May 29, 2020 | Congressional Legislation, News
House Financial Services Committee To Hold Seven Virtual Hearings in June This afternoon, House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) announced that the committee would be holding seven virtual hearings during the month of June. The majority...
May 27, 2020 | Federal Regulation
Otting Steps Down as Head of OCC Comptroller of the Currency Joseph M. Otting announced that he will resign from office at the end of this week, just over halfway through his five-year term. First Deputy and Chief Operating Officer Brian P. Brooks will become Acting...
May 25, 2020 | Federal Regulation, News
Financial Regulators Issue Guidance for Offering Responsible Small-Dollar Loans Last week, four federal financial regulatory agencies released guidance titled “Interagency Lending Principles for Offering Responsible Small-Dollar Loans,” encouraging credit unions,...
May 22, 2020 | Congressional Legislation, News
House Passes HEROES Act as Next COVID-19 Relief Bill Last week, the House of Representative passed the HEROES Act as its latest effort to provide relief in response to the COVID-19 pandemic crisis. The legislation aims to help essential workers, renters and...
May 20, 2020 | Federal Regulation, News
CFPB Outlines Billing Error Responsibilities of Financial Firms During Pandemic Last week, the Consumer Financial Protection Bureau (CFPB) released a statement and FAQs concerning the obligations of financial firms during the coronavirus pandemic. Specifically, the...
May 18, 2020 | Banks & Credit Unions, News
Report Finds Average Credit Card Spending Falls 40 Percent Last week, the JPMorgan Chase Institute released a report featuring new data on household credit card spending, finding a 40 percent decrease attributed mostly to the ongoing coronavirus pandemic. The report...
