Rate Cap Bill Won’t Be Considered This Year After Moderate Democrats Express Concerns
Legislation introduced by Reps. Jesus “Chuy” Garcia (D-Ill.) and Glen Grothman (R-Wisc.) that would ban all loans above a 36 percent APR was not considered in the House Financial Services Committee markup this week, meaning that it will not come before the committee...
Federal Agencies Issue Statement Recognizing Alternative Data’s Potential to Expand Credit Access and Benefit Consumers
Last week, five federal agencies—including the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the...
Official Says Fed is Looking to Step Up Supervision of Tech Firms Serving Banking Industry
As cybersecurity breach concerns have risen, the Federal Reserve has indicated in recent weeks that the nation’s central bank may soon boost supervision of technology firms in the banking industry. They are considering examining governance and compliance systems at...
