Apr 20, 2022 | Federal Regulation, News
Biden Picks Michael Barr to be Fed Vice Chair for Supervision Last week, President Biden announced his intent to nominate Michael Barr as the next Federal Reserve Vice Chair for Supervision after his previous choice, Sarah Bloom Raskin, withdrew from consideration...
Apr 18, 2022 | Banks & Credit Unions, News
Democratic State AGs Push Banks on Overdraft Fees Earlier this month, attorneys general (AGs) from more than a dozen states sent letters urging JPMorgan Chase, Bank of America, Wells Fargo, and U.S. Bancorp to eliminate overdraft fees for consumers. In the past year,...
Apr 15, 2022 | Congressional Legislation, Federal Regulation, News
Brown Asks Fed and OCC to Review Bank Mergers Senator Sherrod Brown (D-Ohio), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, recently sent a letter to Federal Reserve Chair Jay Powell and Acting Comptroller of the Currency Michael Hsu,...
Apr 13, 2022 | FinTech, News
21 Attorneys General Say CFPB Should Regulate Buy Now, Pay Later Last month, the Consumer Financial Protection Bureau (CFPB) closed its request for comments on the Buy Now, Pay Later (BNPL) inquiry it launched on December 16. Among the comments received, 21 state...
Apr 11, 2022 | Federal Regulation, News
Chopra Plans Crackdown on Repeat Offenders In a recent speech at the University of Pennsylvania Law School, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra announced plans to rein in repeat industry offenders by potentially forcing the divestiture of...
Apr 8, 2022 | Congressional Legislation, News
House Financial Services Committee Holds Hearing on Overdraft Fees Last week, the House Financial Services (HFSC) Subcommittee on Consumer Protection and Financial Institutions held a hybrid hearing entitled, “The End of Overdraft Fees? Examining the Movement to...
