The U.S. Census Bureau recently released data related to income, poverty, and health insurance coverage in the United States. The Bureau found that median household incomes are up 3.2% since 2015 to $59,039 and poverty had fallen to a rate of 12.7%. Further, health...
A federal district judge in Illinois granted a motion to transfer venue to Kansas on September 8th in a case pitting the Consumer Financial Protection Bureau (CFPB) against four tribal lending entities (TLEs) owned and operated by the Habematolel Pomo of Upper Lake....
Equifax, one of the big three credit bureaus relied upon by million of consumers each year to tabulate credit scores, announced a massive breach on September 7th resulting in the exposing of sensitive information for more than 143 million Americans. The breach itself...
Great Plains Lending, LLC, and Plain Green, LLC v. Consumer Financial Protection Bureau concerns the CFPB’s authority over tribal lending entities WASHINGTON, DC – The Native American Financial Services Association (NAFSA) submitted an amicus brief this week in...
On Tuesday September 5, 2017, NAFSA successfully filed with the United States Supreme Court an Amicus Brief in support of the petition for certiorari in case no. 17-184, Great Plains Lending, LLC, and Plain Green, LLC v. Consumer Finance Protection Bureau. Below is...
The Federal Reserve Bank of Philadelphia recently found that consumers in underserved credit markets (like areas that have experienced bank closures) benefit from the additional credit supply provided by online lenders. In particular, study data showed that the online...
The Bureau of Labor Statistics reported late last week that consumer spending was up 2.4% in 2016 to $57,311, but fell short of the 4.6% increase in 2015. Expenditures rose sharply for rental housing last year, as rental spending once again outpaced mortgage expenses....
A New York federal district court is preparing to hear the trial of payday-lender-turned-race-car-driver Scott Tucker beginning September 11th. Last year, federal district attorneys brought a $2 billion action against Tucker and his business associate, Timothy Muir,...
While the biggest banks continue to ignore credit demands from small businesses, FinTech companies are finding ways to help the nearly 28 million small businesses in America. Public-private partnerships are moving payment processing to the next level, and FinTech...
A recent study by Harris Poll on behalf of CareerBuilder, a talent acquisition company, found that 78% of Americans are living paycheck to paycheck, including nearly 1 in 10 who make more than $100,000 per year. Twenty percent of American workers have missed a payment...
