CFSA Exec “Skeptical” About Banks Entering Short-Term, Small-Dollar Lending Industry
← Previous Article Next Article → Last month, both the Office of the Comptroller of the Currency (OCC) and the National Credit Union Administration (NCUA) issued proposals to allow banks and credit unions to offer short-term, small-dollar lending products....
House Financial Services Looks at CFPB Changes
← Previous Article Next Article → In a hearing last week convened by the House Financial Services’ Financial Institutions and Consumer Credit Subcommittee, members of Congress on the panel considered four statutory changes to the structure of the Consumer...
Senate Committee Advances Nomination of Tara Sweeney to be Assistant Secretary for Indian Affairs
← Previous Article Next Article → Nearly a month after the Senate Committee on Indian Affairs held confirmation hearings for Tara Sweeney, President Trump’s nominee to lead the Bureau of Indian Affairs, the Committee has advanced her nomination, clearing it...
Deb Haaland Wins New Mexico Congressional Primary, Putting Her on Track to Become First Native American Woman in U.S. Congress
← Previous Article Next Article → In the primary for New Mexico’s first Congressional District on Tuesday night, Deb Haaland, an enrolled member of the Pueblo of Laguna, handily beat out five other challengers to secure the Democratic nomination. While 21...
SEC Moves on Cryptocurrencies with Announcement of Senior Advisor for Digital Assets and Innovation
← Previous Article Next Article → On Monday, the Securities and Exchange Commission (SEC) announced the appointment of Valerie Szczepanik as Associate Director of the Division of Corporation Finance and Senior Advisor for Digital Assets and Innovation. In...
OCC Getting Closer to Decision on Proposed Charter for Fintech
← Previous Article Next Article → For nearly a year and half, the Office of the Comptroller of the Currency has been exploring the possibility of extending a special purpose national bank charter to fintech companies like online lenders. During a press call...
Fintech Online Lenders Respond to Rising Defaults by Tightening Underwriting Standards
← Previous Article Next Article → Several years of positive growth have been good for investors in fintech lending companies like Social Finance (SoFi), LendingClub, Prosper, and Avant. But after a wave of defaults across these platforms, investors have...
NCUA Proposes Changing Lending Rule to Allow Federal Credit Unions to Offer Payday Alternative Loans
← Previous Article Next Article → In a proposed rule issued last week by the National Credit Union Administration (NCUA) Board, federal credit union members could have more options for short-term, small-dollar borrowing. This comes on the heels of a bulletin...
