Mulvaney Lays Out Agency Overhaul in CFPB Semi-Annual Report
← Previous Article Next Article → Keeping in line with recent efforts to revamp the Consumer Financial Protection Bureau (CFPB), Acting CFPB Director Mick Mulvaney turned a new corner for the consumer agency with his first semi-annual report to Congress. In...
Senate Dems Divide Again Over Reconsideration of Payday Rule
← Previous Article Next Article → As Acting Consumer Financial Protection Bureau (CFPB) Director Mick Mulvaney continues to reimagine the agency he temporarily oversees, another rift has opened in Senate Democrats regarding the agency’s interest in...
Bank Overdraft Fees Keep Climbing in Spite of Consumer Preferences
← Previous Article Next Article → According to statistics from Moebs Services, Americans were charged $34.3 billion in overdraft fees by financial institutions in 2017, a full $1 billion more than 2016. Fees managed to rise again despite one-third of banks...
Payday Rule Repeal Introduced in Senate
← Previous Article Next Article → Senator Lindsey Graham (R- SC) introduced a joint resolution in the Senate to utilize the Congressional Review Act (CRA) to repeal the Consumer Financial Protection Bureau’s (CFPB) rule on “Payday, Vehicle Title, and Certain...
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...
