The Consumer Financial Protection Bureau (CFPB) issued its final rule regarding arbitration agreements on July 10th, a few days after the Bureau’s director, Richard Cordray, was threatened with Contempt of Congress. The arbitration rule includes an exemption for...
Despite a threat of contempt charges from House Financial Services Committee Chairman Rep. Jeb Hensarling (R- TX), the Consumer Financial Protection Bureau (CFPB) issued a final rule on July 10th restricting mandatory arbitration clauses and opening more financial...
President Trump is expected to nominate Randal Quarles to serve as Vice-Chairman of Supervision at the Federal Reserve, a position created by the Dodd-Frank Act but never filled during the Obama Administration. His position as vice-chair would last a term of 4 years,...
The Consumer Financial Protection Bureau (CFPB) issued its final rule today on arbitration clauses, only a few days after Rep. Jeb Hensarling, Chairman of the House Financial Services Committee, threatened CFPB Director Richard Cordray with contempt charges if the...
The Consumer Financial Protection Bureau (CFPB) recently published its 11th Semi-Annual Report to Congress, covering the period from October 1, 2016 to March 31, 2017. The report includes information on the agency’s consumer complaint process, supervisory actions, the...
The American Banking Association, American Financial Services Association, Consumer Mortgage Coalition, Independent Community Bankers of America, and Mortgage Bankers Association sent a letter to former Alabama Senator, now U.S Attorney General, Jeff Sessions...
A federal judge ruled on July 5th that a lawsuit against the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) regarding the agencies’ coercion of banks during Operation Choke Point (OCP) could...
Beginning July 1st, the big three credit reporting bureaus, Experian, Equifax, and Transunion, will no longer rely on certain public records, like civil judgments and tax liens, in calculating credit scores without first independently confirming the identity of the...
As required under the Dodd-Frank Act, the Federal Reserve conducted its regular stress tests of major American banks and released the results late last month. Banks that hold more than $50 billion in assets are mandated to submit to a series of hypothetical tests to...
NAFSA staff are in Wisconsin this week attending the LDF Tribal Lending Summit. NAFSA Executive Director Gary Davis will give an update, and staff are represented on panels for banking, marketing, and legal issues. This is the fourth lending summit hosted by the Lac...
