CFPB Says Earned Wage Access Apps are Providing Loans
CFPB Says Earned Wage Access Apps are Providing Loans Last week, the Consumer Financial Protection Bureau (CFPB) said that apps that allow workers to access their paychecks early—and usually for a fee—are actually providing loans, thus making them subject to the Truth...
Senate Banking Committee Holds Relatively Smooth Hearing for FDIC Nominee Christy Goldsmith Romero
Senate Banking Committee Holds Relatively Smooth Hearing for FDIC Nominee Christy Goldsmith Romero Last week, Christy Goldsmith Romero appeared before the Senate Banking Committee for her confirmation hearing as President Biden’s nominee to take the reins of the...
SCOTUS Ends Chevron Deference, Severely Restricting Executive Agency Power
SCOTUS Ends Chevron Deference, Severely Restricting Executive Agency Power In a 6-3 decision along ideological lines, the Supreme Court of the United States (SCOTUS) overruled a longstanding precedent known as the Chevron Deference. The Chevron precedent said that...
CFPB Blog Post Sets March 30, 2025 as Implementation Date for Payday Lending Rule
CFPB Blog Post Sets March 30, 2025 as Implementation Date for Payday Lending Rule The Consumer Financial Protection Bureau (CFPB) recently announced that its 2017 Payday Lending Rule will go into effect on March 30, 2025. The rule will limit lenders from making more... 