CFPB Issues Circular Saying NDAs that Deter Whistleblowing May Break the Law
CFPB Issues Circular Saying NDAs that Deter Whistleblowing May Break the Law The Consumer Financial Protection Bureau (CFPB) recently issued a circular to regulators and law enforcement agencies, explaining that it could be unlawful for companies to require employees...
House Financial Services Committee Holds Field Hearing on Partnerships Between Financial Institutions and Fintech
House Financial Services Committee Holds Field Hearing on Partnerships Between Financial Institutions and Fintech Earlier this month, the House Financial Services Subcommittee on Financial Institutions and Monetary Policy held a field hearing in Kentucky for banking...
CFPB Says Earned Wage Access Apps are Providing Loans
CFPB Says Earned Wage Access Apps are Providing Loans Last week, the Consumer Financial Protection Bureau (CFPB) said that apps that allow workers to access their paychecks early—and usually for a fee—are actually providing loans, thus making them subject to the Truth...
Senate Banking Committee Holds Relatively Smooth Hearing for FDIC Nominee Christy Goldsmith Romero
Senate Banking Committee Holds Relatively Smooth Hearing for FDIC Nominee Christy Goldsmith Romero Last week, Christy Goldsmith Romero appeared before the Senate Banking Committee for her confirmation hearing as President Biden’s nominee to take the reins of the...
End of NY Legislative Session Means No BNPL Bill This Year
End of NY Legislative Session Means No BNPL Bill This Year New York State lawmakers ended their legislative session in June with no new state regulations for the buy now, pay later (BNPL) industry, contrary to what many anticipated. State governor Kathy Hochul began...
SCOTUS Ends Chevron Deference, Severely Restricting Executive Agency Power
SCOTUS Ends Chevron Deference, Severely Restricting Executive Agency Power In a 6-3 decision along ideological lines, the Supreme Court of the United States (SCOTUS) overruled a longstanding precedent known as the Chevron Deference. The Chevron precedent said that...
CFPB Blog Post Sets March 30, 2025 as Implementation Date for Payday Lending Rule
CFPB Blog Post Sets March 30, 2025 as Implementation Date for Payday Lending Rule The Consumer Financial Protection Bureau (CFPB) recently announced that its 2017 Payday Lending Rule will go into effect on March 30, 2025. The rule will limit lenders from making more... CFPB Proposes Banning Medical Bills from Credit Reports
CFPB Proposes Banning Medical Bills from Credit Reports Earlier this month, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would remove medical bills from credit reports and prohibit lenders from making lending decisions based on medical... 