Dec 12, 2023 | Congressional Legislation, News
HFSC Chairman McHenry Announces He Will Retire At the End of This Term House Financial Services Committee (HFSC) Chairman Patrick McHenry (R-N.C.) recently announced that he will not seek re-election to the House, choosing instead to retire at the end of his current...
Dec 6, 2023 | Federal Regulation, News
CFPB’s Plan to Crack Down on Overdraft Fees Expected in December Officials from the Consumer Financial Protection Bureau (CFPB) have recently told industry executives that the agency will most likely reveal its plan to crack down on overdraft fees this month. The...
Nov 30, 2023 | Federal Regulation, News
FDIC Under Fire After Report of Sexual Harassment, Other Misconduct The Wall Street Journal recently published an explosive report highlighting the “toxic atmosphere” described by current and former employees of the Federal Deposit Insurance Corp., including 20 women...
Nov 28, 2023 | Congressional Legislation, Federal Regulation, News
Banking Trade Groups Argue Interest Rate Cap Could Impact Subprime Borrowers’ Credit Access In a recent joint letter to lawmakers, seven bank trade groups warned that the Military Lending Act, which would impose a 36 percent interest rate cap on consumer loans, could...
Nov 22, 2023 | Financial Literacy, News
American Households Increase Total Debt by $78 Billion in Q3 A new report released by WalletHub found that American households increased their total debt by $78 billion during the third quarter of this year. The average amount of total debt U.S. households owed was...
