Nov 2, 2020 | Federal Regulation, News
OCC Finalizes True Lender Rule The Office of the Comptroller of the Currency (OCC) last week finalized its “true lender” rule, which applies a basic test to determine when a bank is considered the true lender when partnering with nonbanks. This is the most recent...
Oct 30, 2020 | Congressional Legislation, News
Native American Business Incubators Act Signed Into Law Last week, the Native American Business Incubators Act was signed into law. Introduced by U.S. Senator Tom Udall (D-N.M.), vice chairman of the Senate Committee on Indian Affairs, the legislation will give...
Oct 28, 2020 | Financial Literacy, News
FICO Scores Hit Fifteen-Year Highs Earlier this month, the Wall Street Journal reported that consumer credit scores have improved in recent months, despite economic uncertainties and hardships resulting from the coronavirus pandemic. The average FICO score was 711 in...
Oct 26, 2020 | Congressional Legislation, News
Senate Democrats Introduce Bill to Ban Discrimination in Financial Services A number of U.S. Senate Democrats recently introduced the Fair Access to Financial Services Act, which would apply the Civil Rights Act’s ban on discrimination against customers to the banking...
Oct 23, 2020 | FinTech, News
Amazon Launches Payday Advance Program for Warehouse Workers Amazon recently launched a program called Anytime Pay, which provides payday advances to the company’s most financially vulnerable warehouse workers, allowing them to instantly access up to half of the...
