Nov 1, 2021 | Banks & Credit Unions, News
Bank Overdraft Fees Hit Record Highs During Pandemic A recent survey from Bankrate found that Non-Sufficient Funds (NSF, commonly known as overdraft) fees rose to their highest amount ever last year as Americans struggled to make ends meet during COVID-19. The average...
Oct 29, 2021 | Federal Regulation, News
CFPB Director Chopra Testifies Before Congress Rohit Chopra, President Biden’s newly installed Director of the Consumer Financial Protection Bureau (CFPB), testified this week on consecutive days before the House Financial Services and Senate Banking Committees in his...
Oct 27, 2021 | Federal Regulation, News
Tester Expresses Concerns about OCC Nominee, Potentially Endangering Confirmation Last week, U.S. Senator Jon Tester (D-Mont.), who serves on the Senate Banking Committee, voiced concerns about Saule Omarova, President Biden’s nominee to lead the Office of the...
Oct 25, 2021 | Federal Regulation, News
Appeals Court Delays Implementation of Payday Lending Rule Earlier this month, the U.S. Court of Appeals for the Fifth Circuit approved a delay in the implementation of the Consumer Financial Protection Bureau (CFPB)’s payday lending rule. The court determined that...
Oct 22, 2021 | Federal Regulation, News
Consumer Advocates Urge CFPB to Rein in Pay Advance Companies Dozens of consumer advocacy groups and academics—96 in total—are pushing the Consumer Financial Protection Bureau (CFPB) to regulate pay advance companies, arguing that earned wage access (EWA) products...
