Dec 6, 2019 | FinTech, News
According to Federal Reserve Chairman Jerome Powell, the United States at present has no plans to create a digital currency. In a letter to Rep. French Hill (R-Ark.), Powell said that such a currency would be difficult for the U.S. central bank to adopt as many...
Dec 5, 2019 | Congressional Legislation, Federal Regulation, News
This week, the House Financial Services Committee is convening four hearings on various issues, which will be followed up by a two-day legislative markup next week. On Tuesday, the full committee held a hearing entitled “Oversight of Prudential Regulators: Ensuring...
Dec 3, 2019 | Banks & Credit Unions, FinTech, News
According to a survey by Promontory International Network, about 26 percent of community bankers consider big technology companies like Google and Amazon to be the main threat to their business. Tech giants rated more than double the 11 percent of community bankers...
Dec 2, 2019 | Federal Regulation, News
With student loans becoming the biggest non-mortgage type of debt in the United States, the federal government has created income-driven repayment (IDR) plans to curb student loan debt stress. Recently, the Consumer Financial Protection Bureau (CFPB) released a Data...
Nov 27, 2019 | Banks & Credit Unions, News
In recent days, both the Office of the Comptroller of the Currency (OCC) and the FDIC announced that they were proposing rules to clarify the “Valid When Made” doctrine. According to an OCC Press Release, the rule would “clarify that when a national bank or savings...