Jan 5, 2022 | Federal Regulation, News
FDIC Chair McWilliams to Resign in Early February In a surprising move that comes after weeks of partisan infighting at the agency, Federal Deposit Insurance Corporation (FDIC) Chairwoman Jelena McWilliams announced on December 31 that she would be resigning as...
Jan 3, 2022 | Financial Literacy, News
Equifax Adding BNPL Plans to Credit Reports This year, Equifax Inc. will start recording Buy Now, Pay Later (BNPL) installment plans on credit reports to give lenders a more complete picture of consumers’ financial commitments. In recent years, Buy Now, Pay Later...
Dec 31, 2021 | Federal Regulation, News
OCC Outlines Climate Risk Standards for Big Banks Earlier this month, the Office of the Comptroller of the Currency (OCC) requested public feedback on draft supervisory principles designed to support the identification and assessment of climate-related financial risks...
Dec 29, 2021 | Federal Regulation, News
CFPB Opens Inquiry Into BNPL The Consumer Financial Protection Bureau (CFPB) recently issued a series of orders to assess the risks and benefits of “buy now, pay later” (BNPL) credit to five major companies offering the service: Affirm, Afterpay, Klarna, PayPal, and...
Dec 27, 2021 | Congressional Legislation, Federal Regulation, News
Waters Presses Regulators to Impose Moratorium on Bank M&A Over $100 Billion Congresswoman Maxine Waters (D-Calif.), Chairwoman of the House Financial Services Committee, recently sent a letter to the Federal Reserve, Federal Deposit Insurance Corporation (FDIC),...