Rep. Jeb Hensarling (R-TX), Chairman of the House Financial Services Committee, plans to introduce his sweeping reforms to the Dodd-Frank Act, dubbed CHOICE Act 2.0, at a hearing titled “A Legislative Proposal to Create Hope and Opportunity for Investors, Consumers,...
Following the D.C. Circuit Court’s decision to rehear the case en banc, PHH Corp., petitioners, have briefed the court of their position, and reassert from their previous argument before the court, that the only true remedy in their dispute with the Consumer Financial...
A coalition of Republicans and Democrats are once again attempting to revive the provisions of the Glass-Steagall Act and create separation between commercial and investment banking activities. The Glass-Steagall Act, passed in 1933 in the midst of the Great...
Deloitte, an international auditing, consulting and financial advisory firm, recently named London, England as a hub of the FinTech industry. Three of the top five hubs in the study, New York, Silicon Valley and Chicago, operate in the United States. The goal of the...
Following up on a memo distributed in February, Rep. Jeb Hensarling (R- TX), Chairman of the House Financial Services Committee, released more information on a proposed bill to renovate the Dodd-Frank Act, dubbed CHOICE Act 2.0. In particular, CHOICE Act 2.0 proposes...
Using data from its National Financial Capability Study, the FINRA Foundation recently teamed up with the First Nations Development Institute to issue a report on the financial capabilities of Native Americans entitled “Race and Financial Capability in America:...
Today, the Native American Financial Services Association (“NAFSA”) submitted comments to the Department of the Interior’s Advance Notice of Proposed Rule Making regarding Indian Trader Regulations, a collection of federal rules that manage certain business...
New Mexico Governor Susana Martinez signed into law on Friday a bill capping small dollar loans at 175% APR and banning loan products with terms less than 120 days, effectively ending the practice of payday lending in the Land of Enchantment. New Mexico joins a...
On April 7th the Senate confirmed Judge Neil Gorsuch to the U.S. Supreme Court after lowering the threshold for confirmation to a simple majority the day prior. The Senate voted 54-45 in favor of elevating Gorsuch, formerly a judge on the Tenth Circuit Court of...
Late last week the Consumer Financial Protection Bureau (CFPB) issued its annual report on the agency’s administration of the Fair Debt Collection Practices Act (FDCPA). The report covers agency action in 2015, including the issuance of over $79 million in fines to...
