Jan 25, 2024 | Federal Regulation, Litigation, News
Supreme Court Signals It Will Claw Back Federal Agency Power Last week, the Supreme Court signaled that it will likely cut back the regulatory power of federal agencies when several justices indicated during a pair of arguments they were ready to overrule a legal...
Jan 23, 2024 | Federal Regulation, News
CFPB Proposes Rule to Crack Down on Overdraft Fees Last week, the Consumer Financial Protection Bureau (CFPB) proposed a rule to rein in excessive overdraft fees that would close a loophole exempting overdraft lending services from provisions of the Truth in Lending...
Dec 19, 2023 | Congressional Legislation, Federal Regulation, News
Sens. Brown, Warnock, and Fetterman Send Letter to CFPB on Holiday BNPL Spending This week, U.S. Senators Sherrod Brown (D-Ohio), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, joined by Sens. Raphael Warnock (D-Ga.) and John Fetterman...
Dec 14, 2023 | Federal Regulation, FinTech, News
OCC Issues BNPL Guidance Last week, the Office of the Comptroller of the Currency (OCC) issued guidance to national banks and federal savings associations addressing what it says are the risks of “buy now, pay later” (BNPL) lending. BNPL products present compliance,...
Dec 6, 2023 | Federal Regulation, News
CFPB’s Plan to Crack Down on Overdraft Fees Expected in December Officials from the Consumer Financial Protection Bureau (CFPB) have recently told industry executives that the agency will most likely reveal its plan to crack down on overdraft fees this month. The...
Nov 30, 2023 | Federal Regulation, News
FDIC Under Fire After Report of Sexual Harassment, Other Misconduct The Wall Street Journal recently published an explosive report highlighting the “toxic atmosphere” described by current and former employees of the Federal Deposit Insurance Corp., including 20 women...