Speaking to a conference this week in New York, Acting Comptroller of the Currency Keith Noreika reiterated that his agency’s proposal to issue special purpose bank charters to fintech companies is still in an “exploratory phase.” His comments come at a time when...
The House passed a series of appropriation bills along party lines late Thursday deviating somewhat from President Trump’s original budget proposal, but also comprising some major changes over the last fiscal year. The financial services bill incorporated many of the...
A new survey by Morning Consult and Politico found that Americans are split on limiting the power of the Consumer Financial Protection Bureau (CFPB). 22% of respondents felt limiting the CFPB was the right thing to do, while 23% believed restricting the federal...
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....
