Apr 7, 2021 | FinTech, News
Five Bank Regulators Seek Input on How Financial Institutions Use AI Last week, five federal financial regulatory agencies—the Federal Reserve Board, the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the National Credit...
Apr 5, 2021 | Congressional Legislation, News
Waters Releases April Hearing Schedule for House Financial Services Committee According to Congresswoman Maxine Waters (D-Calif.), Chairwoman of the House Committee on Financial Services (HFSC), the committee is currently slated to hold seven hearings over the month...
Apr 2, 2021 | Congressional Legislation, Federal Regulation, News
Congressional Democrats Introduce Resolution Undoing OCC’s True Lender Rule Last week, U.S. Senators Chris Van Hollen (D-Md.), Sherrod Brown (D-Ohio), and Representative Chuy Garcia (D-Ill.) introduced a resolution aimed at undoing the Office of the Comptroller of the...
Mar 31, 2021 | Federal Regulation, News
CFPB Issues 2020 Annual Complaint Report Last week, the Consumer Financial Protection Bureau (CFPB) issued its Consumer Response Annual Report for 2020 to provide insight on issues consumers reported to the Bureau throughout the year. The Bureau saw the pandemic’s...
Mar 29, 2021 | Banks & Credit Unions, News
Illinois Caps Consumer Loan APRs at 36 Percent Last week, Illinois Governor J.B. Pritzker signed a bill capping annual interest rates on all consumer loans at 36 percent. The Governor’s office said that auto title loans in the state currently carry an average annual...
