CFPB Proposes Banning Medical Bills from Credit Reports
CFPB Proposes Banning Medical Bills from Credit Reports Earlier this month, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would remove medical bills from credit reports and prohibit lenders from making lending decisions based on medical...
Judge Temporarily Blocks Colorado DIDMCA Opt Out Law
Judge Temporarily Blocks Colorado DIDMCA Opt Out Law Last week, U.S. District Court Judge Daniel Domenico issued a ruling temporarily stopping legislation passed last year that would opt the state out of the 1980 Depository Institutions Deregulation and Monetary...
Biden Nominates Christy Goldsmith Romero to Replace Martin Gruenberg as FDIC Chair
Biden Nominates Christy Goldsmith Romero to Replace Martin Gruenberg as FDIC Chair Last week, President Biden nominated Christy Goldsmith Romero as the next chair of the Federal Deposit Insurance Corporation (FDIC). Goldsmith Romero, currently a commissioner on the...
CFPB Director Chopra Testifies Before Senate Banking, House Financial Services Committees
CFPB Director Chopra Testifies Before Senate Banking, House Financial Services Committees This week, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra testified before both the Senate Committee on Banking, Housing, and Urban Affairs and the House... CFPB Finalizes Rule to Create “Repeat Offender” Registry
CFPB Finalizes Rule to Create “Repeat Offender” Registry Last week, the Consumer Financial Protection Bureau (CFPB) finalized a rule that will establish a registry to track people and companies that have repeatedly broken consumer protection laws. Non-bank...
Younger Consumers Struggling to Pay Credit Card Debts
Younger Consumers Struggling to Pay Credit Card Debts A recent report on first quarter household debt by the Federal Reserve Bank of New York found the share of credit card debt over 90 days past due rose to 10.7 percent in the first quarter, which is a 14-year high.... CFPB Proposes Regulating BNPL Loans Like Credit Cards
CFPB Proposes Regulating BNPL Loans Like Credit Cards Last week, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule that considers Buy Now, Pay Later (BNPL) lenders to be credit card providers. The Bureau says that the move is meant to protect... Amid Scandal, Gruenberg Announces Plans to Resign Once Successor is Approved
Amid Scandal, Gruenberg Announces Plans to Resign Once Successor is Approved Federal Deposit Insurance Corp (FDIC) Chairman Martin Gruenberg announced last week that he plans to step down after the Special Review Committee’s recent report detailing sexual harassment,... 