Jul 2, 2021 | Federal Regulation, News
CFPB Acting Director Uejio Nominated for HUD Assistant Secretary Last week, President Biden nominated acting director of the Consumer Financial Protection Bureau (CFPB) Dave Uejio to serve as an assistant secretary of the Department of Housing and Urban Development...
Jun 30, 2021 | Banks & Credit Unions, News
Nonbanks Issue More Than Two-Thirds of Mortgages in 2020 Recent industry research from Inside Mortgage Finance showed that nonbank mortgage lenders in the U.S. issued 68.1 percent of all mortgages in 2020, up from 58.9 percent in 2019. The increase is their highest...
Jun 28, 2021 | Banks & Credit Unions, News
New York Democratic Members of Congress Push JPMorgan to Refund Overdraft Fees Collected During COVID-19 Earlier this month, Democrats representing New York in the House of Representatives sent a letter to Jamie Dimon, JPMorgan Chase CEO and Chairman, urging the bank...
Jun 25, 2021 | Congressional Legislation, Federal Regulation, News
House Votes to Overturn True Lender Rule, Sending Repeal to President’s Desk Yesterday, House lawmakers voted to pass legislation overturning the Office of the Comptroller of the Currency’s (OCC) “true lender” rule issued in October, which governs partnerships...
Jun 23, 2021 | Federal Regulation, News
CFPB Restarts MLA Exams The Consumer Financial Protection Bureau (CFPB) recently issued an interpretive rule that reasserts its authority to use Military Lending Act (MLA) exams to protect servicemembers from overpaying for financial services. The CFPB started...
Jun 21, 2021 | Banks & Credit Unions, Financial Literacy, News
Morning Consult Report Finds Nearly 1 in 5 Americans Have Overdrafted Accounts Within Past Year Recent data from Morning Consult showed that nearly half of Americans overdrafted their accounts in the past and 19 percent have overdrafted within the last 12 months. At...