Jul 17, 2020 | Banks & Credit Unions, News
Banks Stockpile Cash to Prepare for Wave of Coronavirus Loan Defaults Some of the largest U.S. banks, including JPMorgan Chase & Co., Citigroup Inc., and Wells Fargo, are choosing to stow away billions of dollars to prepare for future defaults and other loan...
Jul 15, 2020 | Congressional Legislation, News
House Financial Services Committee Convenes Hearing on Protecting Workers’ Pay During Pandemic Last week, the House Financial Services Committee (HFSC) held a hearing titled “Paycheck Security: Economic Perspectives on Alternative Approaches to Protecting Workers’...
Jul 13, 2020 | Federal Regulation, News
CFPB Launches Consumer Financial Protection Week This week, the Consumer Financial Protection Bureau (CFPB) is launching its first Consumer Financial Protection Week, which will take place today through Friday. The virtual event will concentrate on issues consumers...
Jul 10, 2020 | Federal Regulation, News
OCC Report Highlights Risks for Federal Banking System Recently, in its Semiannual Risk Perspective for Spring 2020, the Office of the Comptroller of the Currency (OCC) reported the main issues surrounding the effects of the COVID-19 pandemic on the federal banking...
Jul 8, 2020 | Federal Regulation, News
CFPB Issues Final Rule on Small Dollar Lending Earlier this week, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited small dollar lending rule to preserve consumer access to competition and credit. Upon finding the mandatory underwriting...
