Nov 20, 2020 | Federal Regulation, News
White House Nominates Brooks to Formally Lead OCC The White House recently announced that Brian Brooks has been formally nominated to lead the Office of the Comptroller of the Currency (OCC) for a five-year term. Brooks currently serves the OCC in an acting capacity,...
Nov 18, 2020 | Banks & Credit Unions, Federal Regulation, News
CFPB Grants Bank of America Protection for Small Dollar Loans The Consumer Financial Protection Bureau (CFPB) recently sent Bank of America a “no-action letter” clearing the bank to offer its previously announced small-dollar loan program without the threat of...
Nov 16, 2020 | Federal Regulation, News
Biden Names Former CFPB Deputy Director Leandra English to Lead Bureau’s Review Team During Transition Last week, just days after it was determined that Joe Biden would serve as the 46th President of the United States, the President-Elect named former deputy director...
Nov 11, 2020 | Federal Regulation, News
Joe Biden Elected President, Will Set Financial Policy for Next Four Years After several days of counting votes, Democratic presidential candidate Joe Biden unseated incumbent President Donald Trump and is thus set to become the next president of the United States on...
Nov 9, 2020 | Federal Regulation, News
CFPB Reorganizes to Prioritize Supervision over Enforcement A recent internal memorandum circulated at the Consumer Financial Protection Bureau (CFPB) introduced a major internal reorganization that would remove the Office of Enforcement’s autonomy to open...
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...
