NAFSA NEWS & UPDATES

PHH Argues Dissolution of CFPB in Brief to D.C. Circuit

PHH Argues Dissolution of CFPB in Brief to D.C. Circuit

Following the D.C. Circuit Court’s decision to rehear the case en banc, PHH Corp., petitioners, have briefed the court of their position, and reassert from their previous argument before the court, that the only true remedy in their dispute with the Consumer Financial...

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Bipartisan Coalition Reintroduces Glass-Steagall

Bipartisan Coalition Reintroduces Glass-Steagall

A coalition of Republicans and Democrats are once again attempting to revive the provisions of the Glass-Steagall Act and create separation between commercial and investment banking activities. The Glass-Steagall Act, passed in 1933 in the midst of the Great...

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FinTech Finds a Home in Britain (and Indian Country)

FinTech Finds a Home in Britain (and Indian Country)

Deloitte, an international auditing, consulting and financial advisory firm, recently named London, England as a hub of the FinTech industry. Three of the top five hubs in the study, New York, Silicon Valley and Chicago, operate in the United States. The goal of the...

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Hensarling Releases Details for CHOICE Act 2.0

Hensarling Releases Details for CHOICE Act 2.0

Following up on a memo distributed in February, Rep. Jeb Hensarling (R- TX), Chairman of the House Financial Services Committee, released more information on a proposed bill to renovate the Dodd-Frank Act, dubbed CHOICE Act 2.0. In particular, CHOICE Act 2.0 proposes...

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NAFSA Submits Comments on Indian Trader Regulations

NAFSA Submits Comments on Indian Trader Regulations

Today, the Native American Financial Services Association (“NAFSA”) submitted comments to the Department of the Interior's Advance Notice of Proposed Rule Making regarding Indian Trader Regulations, a collection of federal rules that manage certain business...

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New Mexico Caps Loan Rates and Bans Payday

New Mexico Caps Loan Rates and Bans Payday

New Mexico Governor Susana Martinez signed into law on Friday a bill capping small dollar loans at 175% APR and banning loan products with terms less than 120 days, effectively ending the practice of payday lending in the Land of Enchantment. New Mexico joins a...

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CFPB Issues Annual Report on Debt Collection

CFPB Issues Annual Report on Debt Collection

Late last week the Consumer Financial Protection Bureau (CFPB) issued its annual report on the agency’s administration of the Fair Debt Collection Practices Act (FDCPA). The report covers agency action in 2015, including the issuance of over $79 million in fines to...

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