NAFCU Asks CFPB to Exempt All Payday Alternative Loans from Payday Lending Rule
← Previous Article Next Article → Last October, when the agency was still helmed by former Director Richard Cordray, the Consumer Financial Protection Bureau finalized a rule that required lenders to determine up front whether people can afford to repay...
CFPB Teams Up With International Regulators to Create Global Financial Innovation Network
← Previous Article Next Article → Yesterday, the Consumer Financial Protection Bureau (CFPB) announced a new partnership with 11 financial regulators and related organizations to create the Global Financial Innovation Network (GFIN). According to a press...
Sens. Booker, Brown Take Aim at Overdraft Fees
← Previous Article Next Article → Last week, U.S. Senators Cory Booker (D-N.J.) and Sherrod Brown (D-Ohio) introduced legislation targeting what they see as “exploitative overdraft fees that banks charge consumers when they make a purchase or pay a bill but...
Senate Banking Committee Postpones Vote on CFPB Nominee
← Previous Article Next Article → The Senate Banking Committee has postponed its vote, scheduled for today, on whether to approve Kathy Kranger’s nomination to head the CFPB and advance it to the full Senate for final confirmation. Kraninger was nominated in...
OCC Starts Accepting Applications for National Bank Charters From FinTech Companies
← Previous Article Next Article → Yesterday, the Office of the Comptroller of the Currency (OCC) announced that it will begin accepting applications for national bank charters from nondepository financial technology companies engaged in banking businesses....
Treasury Department Releases Report on Nonbank Financials, Fintech, and Innovation
← Previous Article Next Article → Today, the U.S. Department of the Treasury released a report to the President titled A Financial System that Creates Economic Opportunities: Nonbank Financials, Fintech, and Innovation. The report is Treasury’s fourth report...
Sens. Schumer, Udall: We Must Build on the Successes of Self-Determination
← Previous Article Next Article → Last week, in an opinion column posted to Indianz.com, Senators Tom Udall (D-N.M.), who serves as vice chairman of the Senate Committee on Indian Affairs, and Chuck Schumer (D-N.Y.), the Democratic leader in the Senate,...
Office of Financial Research Nominee Gets Confirmation Hearing
← Previous Article Next Article → Earlier this week, the U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing on four nominations, including that of Dr. Dino Falaschetti to be Director of the Treasury Department’s Office of Financial...
