Sep 26, 2023 | Federal Regulation, News
CFPB Launches Rulemaking to Remove Medical Debt from Credit Reports Last week, the Consumer Financial Protection Bureau (CFPB), announced a new rulemaking process to remove medical debts from Americans’ credit reports. The Bureau says that the proposals under...
Sep 21, 2023 | Congressional Legislation, News
Senate Banking Committee Schedules Vote on SAFE Banking Act On September 27, the Senate Committee on Banking, Housing, and Urban Affairs is set to hold a vote on the Secure and Fair Enforcement (SAFE) Banking Act, which would make it easier for financial institutions...
Sep 19, 2023 | Congressional Legislation, News
Sen. Josh Hawley Proposes Legislation to Cap Credit Card Interest Rates at 18% Last week, Senator Josh Hawley (R-Mo.) introduced legislation that would cap the maximum interest rate credit cards could charge annually at 18 percent. By comparison, the average credit...
Sep 11, 2023 | Federal Regulation, News
Senate Confirms Biden’s Fed Nominees Last week, the Senate confirmed three of President Biden’s Federal Reserve nominees: Philip Jefferson to serve as the Fed’s vice chair, Adriana Kugler to serve on the Fed’s Board of Governors, and the renomination of Lisa Cook to...
Sep 8, 2023 | Banks & Credit Unions, News
Pressure Building in Consumer Loans, According to Latest Fed Data Recent data from the Federal Reserve found heightened pressure in consumer lending, as household debt reached $17 trillion and credit card debt was estimated to surpass the $1 trillion milestone....