Apr 16, 2019 | Congressional Legislation, News, Tribal Sovereignty
← Previous Article Next Article → In its Annual Performance Report, the Small Business Administration (SBA) announced that to cover the costs of its 7(a) loan guaranty program, SBA would either have to raise fees or it would need an additional $99 million...
Mar 26, 2019 | Congressional Legislation, Litigation, News
← Previous Article Next Article → Federal District Judge Lee Yeakel provided a reprieve to short-term, small-dollar lenders last week by continuing to “stay” the Consumer Financial Protection Bureau’s (CFPB) Small-Dollar Rule. The rule’s provisions were...
Mar 20, 2019 | Congressional Legislation, News
← Previous Article Next Article → Earlier today, the Consumer Financial Protection Bureau (CFPB) issued a request for comments on the Equal Credit Opportunity Act (ECOA), a federal law that makes it illegal for any creditor to discriminate against any...
Mar 11, 2019 | Congressional Legislation, Federal Regulation, News
← Previous Article Next Article → Senator Jeff Merkley (D-OR) and Congresswoman Suzanne Bonamici (D-OR) recently introduced the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act, a bill that would require small-dollar lenders to register with the...
Feb 28, 2019 | Congressional Legislation, Federal Regulation, News
← Previous Article Next Article → At a House Financial Services Committee hearing on Tuesday, February 26, Congresswoman Maxine Waters (D-CA-43), chairwoman of the Committee, openly questioned whether the credit reporting sector “is so beyond repair that we...
Feb 26, 2019 | Congressional Legislation, Federal Regulation, News
← Previous Article Next Article → There are nine ways that the Office of the Comptroller of the Currency (OCC) can reduce the risk of regulatory capture, according to the Government Accountability Office (GAO). The OCC, led by the Comptroller of the Currency...
