HFS Explores FinTech at Subcommittee Hearing
← Previous Article Next Article → The House Financial Services (HFS) Subcommittee on Financial Institutions and Consumer Credit held a hearing on January 30th entitled “Examining the Opportunities and Challenges in the Financial Technology (FinTech)...
Wells Fargo Seeks to Atone, Hires Former New York Fed Exec to Manage Regulatory Matters
← Previous Article Next Article → Embattled banking institution Wells Fargo announced this week that it named Sarah Dahlgren as its new head of regulatory relations. Dahlgren previously spent 25 years with the Federal Reserve Bank of New York, where she...
Bankers Urge CFPB to Preserve Accommodation Loans
← Previous Article Next Article → With the recent news that the Consumer Financial Protection Bureau (CFPB) would reconsider its rule on small dollar credit products, the American Bankers Association wrote to Interim CFPB Director Mick Mulvaney requesting...
Full DC Circuit Rules CFPB Structure Constitutional
← Previous Article Next Article → By a vote of 7-3, an en banc D.C. Circuit Court ruled that the structure of the Consumer Financial Protection Bureau (CFPB) is constitutional, overturning a panel decision last year that found the CFPB’s director must be...
Trump Nominees to Key Financial Regulatory Posts Met with Mixed Reactions
← Previous Article Next Article → Earlier this week, the Senate confirmed Jerome Powell as the next chair of the Federal Reserve Board. Powell easily managed the confirmation process and his moderate stance on many monetary issues made him a palatable...
NYDFS Announces Enforcement Ramp Up in Wake of CFPB About-Face
← Previous Article Next Article → Maria Vullo, Superintendent of the New York Department of Financial Services (NYDFS), issued a press release on January 25th vowing to “safeguard the financial services industry” and “continue to lead and take action to fill...
Consumer Debt Studies Struggle to Paint Accurate Picture of Credit in America
← Previous Article Next Article → According to a survey by Bank of America, nearly half of Millennials (age 23-37) have at least $15,000 in savings, and 16% have more than $100,000 stashed in a bank. These figures have almost doubled since Bank of America...
CashCall Fined $10 Million for Payday Loan Scheme Involving Native-Owned Business
← Previous Article Next Article → A California federal judge ordered online loan servicer CashCall to pay a $10 million fine to the Consumer Financial Protection Bureau (CFPB) for violating the unfair, deceptive, or abusive acts or practices (UDAAP)...
