CFPB Considers New Disclosures for Overdraft Coverage

CFPB Considers New Disclosures for Overdraft Coverage

On the back of reports that Americans spent $15 billion last year in bank overdraft fees, the Consumer Financial Protection Bureau (CFPB) is mulling new standard disclosure forms for banks that allow customers to opt-in to overdraft protection. In addressing the new...
Proposed Budget Resolution Includes Changes to Dodd-Frank

Proposed Budget Resolution Includes Changes to Dodd-Frank

The newly proposed federal budget bill for fiscal year (FY) 2018 (House Concurrent Resolution 71) contains a number of provisions that could reshape key sections of the Dodd-Frank Act. The proposed budget is part of a larger 10 year plan to balance the federal budget...
New Bill Could Allow Alternate Sources in Credit Determination

New Bill Could Allow Alternate Sources in Credit Determination

A bipartisan group of Senators led by Tim Scott (R- SC) and Mark Warner (D- VA) introduced companion legislation to a House bill this week called the Credit Score Competition Act. The bill permits Freddie Mac and Fannie Mae to rely on alternative sources of data, like...
Bill Introduced to Give CFPB Independent Inspector General

Bill Introduced to Give CFPB Independent Inspector General

A bipartisan coalition made up of Reps. Steve Stivers (R- OH) and Tim Waltz (D- MN) introduced legislation this week to create the new position of Inspector General at the Consumer Financial Protection Bureau (CFPB). The bill mirrors a similar offer made back in March...
House Dems Lash Out at GOP Treatment of CFPB in Staff Report

House Dems Lash Out at GOP Treatment of CFPB in Staff Report

Rep. Maxine Waters (D- CA), the ranking member of the House Financial Services Committee,  released a report on July 21st compiled by staff chronicling the numerous successes of the Consumer Financial Protection Bureau (CFPB) and attempts by House Republicans to...
Congress Examines Nominees to Key Financial Regulatory Posts

Congress Examines Nominees to Key Financial Regulatory Posts

The Senate Committee on Banking, Housing, and Urban Affairs questioned President Trump’s nominees for head of the Office of the Comptroller of the Currency (OCC) and Vice-Chair for Supervision of the Board of Governors of the Federal Reserve System on July 27th....
After Arbitration, What Now for the Small Dollar Rule?

After Arbitration, What Now for the Small Dollar Rule?

Following the publication of the Consumer Financial Protection Bureau’s (CFPB) final rule on arbitration, all eyes are turned toward another piece of unfinished business at the Bureau- the proposed rule on payday, vehicle title, and certain high cost installment...

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