HFS Staff Report Details CFPB Missteps in Wells Fargo Scandal
Staff for the House Financial Services (HFS) Committee released a report late Tuesday detailing the Consumer Financial Protection Bureau’s (CFPB) handling of the account scandal that left millions of Wells Fargo customers owing fees on checking and saving accounts...
Fed Shows Worth as Trump Considers Next Chair
The Federal Reserve acts as the central bank for the United States, setting American monetary policy, promoting financial stable markets, supervising financial institutions, maintaining the safety and efficiency of American payment systems, and pursuing community...
Member Alert: CFPB bans consideration of tribal status/sovereignty in Zero Parallel consent order
A similar version of this post was sent to NAFSA members on September 14th. Last week, the Consumer Financial Protection Bureau (CFPB) entered into a consent order with lead generator Zero Parallel, which includes a provision specifically banning the consideration of...
CFPB Issues Supervisory Highlights for Summer 2017
The Consumer Financial Protection Bureau (CFPB) recently published a report on its supervisory activity for the period from January 2017 to June 2017. The purpose of CFPB supervision is to determine if an institution is complying with federal laws and impose...
OCC FinTech Charters Still Not Ready for Deployment
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...
House-Passed Appropriations Bill Includes Significant Dodd-Frank Reforms
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...
New Poll Shows Voters Split on Limiting CFPB Power
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...
Census Bureau Says Average Income Up, Poverty Levels Down
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...
