Aug 3, 2020 | Congressional Legislation, News
Senate Passes Bill to Prevent Garnishment of Relief Payments by Private Debt Collectors Recently, the U.S. Senate passed a bipartisan bill to protect recovery payments supplied by the CARES Act from being garnished by private debt collectors. The bill was introduced...
Jul 31, 2020 | Banks & Credit Unions, Federal Regulation, News
Biden Proposes Public Credit Reporting Agency in Policy Plan In a recent plan outlining the presumptive Democratic presidential nominee’s housing policies, Joe Biden has proposed creating a public credit reporting agency within the Consumer Financial Protection...
Jul 27, 2020 | Federal Regulation, News
Dodd-Frank Act Turns Ten Last week, on the 10th anniversary of the Dodd-Frank Act being signed into law, its major supporters praised its survival despite years of opposition. The legislation’s authors, former Senator Chris Dodd (D-Conn.) and former Representative...
Jul 24, 2020 | Federal Regulation, News
OCC Issues Proposed True Lender Rule On Monday, the Office of the Comptroller of the Currency (OCC) proposed a new rule that would clarify when banks are the “true lenders” of loans when involved with third parties. In so doing, the rule would resolve key...
