Oct 27, 2021 | Federal Regulation, News
Tester Expresses Concerns about OCC Nominee, Potentially Endangering Confirmation Last week, U.S. Senator Jon Tester (D-Mont.), who serves on the Senate Banking Committee, voiced concerns about Saule Omarova, President Biden’s nominee to lead the Office of the...
Oct 25, 2021 | Federal Regulation, News
Appeals Court Delays Implementation of Payday Lending Rule Earlier this month, the U.S. Court of Appeals for the Fifth Circuit approved a delay in the implementation of the Consumer Financial Protection Bureau (CFPB)’s payday lending rule. The court determined that...
Oct 22, 2021 | Federal Regulation, News
Consumer Advocates Urge CFPB to Rein in Pay Advance Companies Dozens of consumer advocacy groups and academics—96 in total—are pushing the Consumer Financial Protection Bureau (CFPB) to regulate pay advance companies, arguing that earned wage access (EWA) products...
Oct 20, 2021 | Federal Regulation, News
Federal Reserve Governor Lael Brainard Calls for Better Access to Credit for Native Americans Earlier this month, Federal Reserve Governor Lael Brainard announced at a “Fed Listens” event that U.S. financial regulators will continue their efforts to improve Native...
Oct 15, 2021 | Federal Regulation, News
Rohit Chopra Sworn in as CFPB Director, Announces Key Senior Positions After receiving Senate confirmation on September 30, Rohit Chopra was sworn in as Director of the Consumer Financial Protection Bureau (CFPB) on Tuesday. The CFPB’s former Acting Director, Dave...
Oct 11, 2021 | Federal Regulation, News
CFPB Report Finds Record Declines in Credit Card Debt in 2020 The Consumer Financial Protection Bureau (CFPB) recently released its fifth biennial Consumer Credit Card Market report to Congress, finding that after years of growth, credit card debt fell to $811 billion...
