Mar 20, 2025 | Federal Regulation, News
Trump Picks Michelle Bowman as Federal Reserve Vice Chair for Supervision Last week, as many watchers had anticipated, President Trump announced the nomination of Federal Reserve Governor Michelle Bowman as the agency’s Vice Chair for supervision. “Miki has been...
Mar 18, 2025 | Federal Regulation, News
New York Moves to Strengthen Consumer Protection Laws Letitia James, New York State Attorney General, recently announced a new bill to protect the state’s consumers and small businesses from deceptive practices and scams from lenders, health care firms, and debt...
Mar 12, 2025 | Congressional Legislation, News
Senate Banking Chairman Tim Scott Introduces “Debanking” Bill Earlier this month, Senator Tim Scott (R-S.C.), Chairman of the Senate Banking Committee, introduced the Financial Integrity and Regulation Management (FIRM) Act, legislation to curb “debanking”...
Mar 6, 2025 | FinTech, News
Survey Finds Gen Z Using BNPL More than Credit Cards A recent J.D. Power survey found that Gen Z consumers are more likely to use Buy Now, Pay Later (BNPL) products than traditional credit cards, which marks the first time this finding has appeared in poll results....
Mar 4, 2025 | Federal Regulation, News
Senate Banking Committee Holds Confirmation Hearing for CFPB Director Nominee Last week, President Donald Trump’s nominee to lead the Consumer Financial Protection Bureau (CFPB), Jonathan McKernan, appeared before the Senate Banking Committee for his confirmation...
Feb 26, 2025 | Federal Regulation, News
Trump Executive Order Expands Authorities Over Independent Agencies, Mandates Presidential Review for Proposed Regulations Last week, President Trump signed an executive order expanding his authority over independent agencies like the Federal Reserve, the Securities...
Feb 20, 2025 | Financial Literacy, News
A Third of Americans Have More Debt than Emergency Savings Bankrate’s 2025 Emergency Savings Report found that 33 percent of U.S. adults have more credit card debt than emergency savings, which is down from 36 percent in both 2024 and 2023. However, the number remains...
Feb 18, 2025 | Congressional Legislation, News
Congressional Resolutions Aim to Overturn CFPB’s Overdraft Rule Representative French Hill (R-Ark.), Chairman of the House Financial Services Committee, and Senator Tim Scott (R-S.C.), Chairman of the Senate Banking Committee, introduced Congressional Review Act...
Feb 12, 2025 | Federal Regulation, News
Russell Vought Takes Over as CFPB Acting Director, Closes Office for the Week, and Announces Plans to Cut off Funding; Trump Nominates Jonathan McKernan as Director Last week, President Trump appointed Russell Vought as acting director of the Consumer Financial...
Feb 6, 2025 | Congressional Legislation, Federal Regulation, News
Sens. Hawley and Sanders Introduce Bill to Cap Credit Card Interest Rates Earlier this week, Senators Bernie Sanders (I-Vt.) and Josh Hawley (R-Mo.) introduced a bill that would cap credit card interest rates at 10 percent, the average of which is currently 20...
