GAO Reviews State of FinTech Regulation
← Previous Article Next Article → The Government Accountability Office (GAO), the “Congressional Watchdog” investigating the use of taxpayer money for the Legislative Branch, released a report on FinTech regulation late last week, reviewing the regulatory...
U.S. Chamber Issues 23 Recommendations for CFPB Reform
← Previous Article Next Article → The U.S. Chamber of Commerce, an organization representing the interests of more than 3 million businesses, issued a series of recommendations to reform the Consumer Financial Protection Bureau (CFPB). The U.S. Chamber...
In the New Look CFPB, Deposit Advance Products Attempt a Rebirth
← Previous Article Next Article → Deposit Advance Products (DAPs) are a form of short term credit offered by banks and credit unions that allow existing account holders to borrow small sums of money to be repaid automatically upon direct deposit of the...
Debt Collection Practices Still a Concern as Congress Moves to Exempt Some from FDCPA
← Previous Article Next Article → The Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) released their annual report on the Fair Debt Collection Practices Act (FDCPA) this week. Since 2012, the CFPB and FTC have worked under a...
Experian Rolls Out Credit Scoring for Non-Prime Consumers
← Previous Article Next Article → Experian, one of the three major credit bureaus in America, took advantage of its recent acquisition of Clarity Services, a leading provider of non-prime credit data and reporting, by announcing a new credit report for...
New Bill Would Create Commission to Oversee CFPB
← Previous Article Next Article → A bipartisan group in Congress led by Dennis Ross (R- FL) is proposing a new bill (H.R. 5266) that would establish a five-member commission confirmed by the Senate to lead the Consumer Financial Protection Bureau (CFPB). The...
Senate Approves Dodd-Frank Reform Bill, Possibly DOA in House
← Previous Article Next Article → A mostly bipartisan Senate voted yesterday 67-31 to advance a bill that would make significant changes to bank regulatory oversight provisions in the Dodd-Frank Act. The bill, led by Senate Banking Committee Chairman Mike...
10 Years Later, Congress Looks to Loosen Regs on Financial Institutions
← Previous Article Next Article → In 2008, a massive housing bubble and subprime mortgage crisis contributed to the loss of nearly 9 million American jobs and pushed the unemployment rate into double digits for the first time in more than 40 years. The...
