Dec 11, 2019 | Congressional Legislation, News
Legislation introduced by Reps. Jesus “Chuy” Garcia (D-Ill.) and Glen Grothman (R-Wisc.) that would ban all loans above a 36 percent APR was not considered in the House Financial Services Committee markup this week, meaning that it will not come before the committee...
Dec 5, 2019 | Congressional Legislation, Federal Regulation, News
This week, the House Financial Services Committee is convening four hearings on various issues, which will be followed up by a two-day legislative markup next week. On Tuesday, the full committee held a hearing entitled “Oversight of Prudential Regulators: Ensuring...
Nov 25, 2019 | Congressional Legislation, News
Last week, in a hearing convened by the House Financial Services Committee’s Task Force on Financial Technology, members of the committee discussed the increased use of big data—the immense amount of consumer information collected by institutions and businesses—in the...
Nov 21, 2019 | Congressional Legislation, News
Last week, the House Financial Services Committee passed eight bills out of the full committee, six of which related to debt collectors while the other two concerned small business loans and veterans housing. According to a press release issued by Committee Chairwoman...
Nov 19, 2019 | Congressional Legislation, News
Last week, U.S. Reps. Jesus “Chuy” Garcia (D-Ill.) and Glenn Grothman (R-Wisc.) introduced legislation that would extend consumer loan restrictions included in the Military Lending Act to all consumers across the nation. In practice, this would bar many consumer...
Nov 15, 2019 | Congressional Legislation, FinTech, News
U.S. Rep. Jesus “Chuy” García (D-Ill.), who represents parts of Chicago and its suburbs, has drafted three bills aimed at keeping big tech companies like Facebook, Google, and Amazon out of the financial services industry. He says that his plan is to prohibit...
