DOJ Files Brief as DC Circuit Preps for Arguments in CFPB Leadership Squabble
← Previous Article Next Article → The U.S. Department of Justice this week filed its opposition brief to an appeal made by Consumer Financial Protection Bureau (CFPB) Deputy Director Leandra English in her bid to unseat Mick Mulvaney as interim director of...
Banks Are Not the Solution to Responsible Small Dollar Credit
← Previous Article Next Article → Earlier this month, Pew Charitable Trusts, an organization founded on religious conviction and oil profits, published a report advocating for an increased presence from banks and credit unions in alternative financial...
CFPB Report Looks at Impacts of Accurate Public Records in Credit Scoring
← Previous Article Next Article → After a lawsuit initiated by 30 state attorneys general a few years ago, the three major credit bureaus, TransUnion, Experian, and Equifax, instituted the National Consumer Assistance Plan (NCAP) to address inaccuracies in...
Dems Attempt to Federally Enforce State Usury Laws with Introduction of SAFE Lending Act
← Previous Article Next Article → A group of Democratic senators and representatives, lead by Senator Jeff Merkley introduced a bill on February 13th called the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act of 2018 that would require small dollar...
Madden Fix Bill Passes House, Seeks to Restore Valid When Made Doctrine
← Previous Article Next Article → The House this week passed the Protecting Consumers’ Access to Credit Act of 2017 in the hopes of overturning a court decision in the Second Circuit that previously refused to extend the National Bank Act’s rate exporting...
Bank Associated with Scott Tucker Ordered to Pay $613 Million for Lack of Money Laundering Controls
← Previous Article Next Article → A coalition of prosecutors and federal bank regulators issued a fine of $613 million to U.S. Bank late last week in connection with violations of the Bank Secrecy Act. The bank got in hot water with regulators in part for a...
NAFSA Hosts Inaugural Tribal Lending Regulatory Workshop
← Previous Article Next Article → On February 15th, NAFSA held a first-of-its-kind workshop for tribal lending regulators, business officers, attorneys, and tribal officials at the organization’s headquarters in Washington, D.C. NAFSA members joined from...
Trump’s Proposed 2019 Budget Reigns in CFPB, Mixed Bag for Indian Country
← Previous Article Next Article → President Trump presented his proposal for the federal government’s FY 2019 budget on February 12th. Through his proposal, Trump hopes to end wasteful spending, expand economic growth and opportunity, support American...
