On February 24th, Rep. Jeb. Hensarling (R- TX) spoke with NPR about his ongoing battle with the Consumer Financial Protection Bureau (CFPB). He argued that bank consumers must be protected not only from Wall Street, but also Washington’s over regulation. Rep....
According to a study conducted last year and recently released by Princeton Survey Research Associates International, only 33% of young American adults between the ages of 18 and 29 possess a credit card. Reasons for not owning a credit card included previous personal...
Late last month the U.S. Department of the Treasury’s Office of the Comptroller of the Currency (OCC) issued a bulletin updating risk management procedures for financial institutions working with 3rd parties by adding marketplace lenders. “Marketplace lender” is...
*Source: The Pulse of Fintech, Q3 2016, Global Analysis of Fintech Venture Funding, KPMG International and CB Insights (data provided by CB Insights) November 16th, 2016. A recent quarterly report by international auditing firm KPMG signals a positive trend in venture...
The CFPB is currently requesting feedback on the potential and risks of using alternative data sources to determine credit scores for financial products. Alternative data sources include rent payments, utility and cell phone bills and other non-traditional credit...
