Newly appointed Justice Neil Gorsuch issued his first opinion on June 12th for a unanimous court in a case concerning who qualifies as a debt collector under the Fair Debt Collection Practices Act (FDCPA). In Henson v. Santander Consumer USA Inc., Santander...
The Consumer Financial Protection Bureau recently released a follow up to its 2015 study on credit invisibility in the United States. A person is “credit invisible” when they lack the data needed to calculate a credit score (invisible) or their credit data is so old...
On the heels of passing a bill that would severely curtail the authority of the Consumer Financial Protection Bureau (CFPB), House Financial Services Committee Chairman Representative Jeb Hensarling (R- TX) is considering holding CFPB Director Richard Cordray in...
On June 8th, the U.S. House of Representatives voted 233-186 to advance the Financial CHOICE Act to the Senate and continue the long process toward major revisions to the Dodd-Frank Act, a banking reform and consumer protection law passed by a bipartisan Congress...
As the federal circuit court in Washington, D.C. continues to ponder the constitutionality of the Consumer Financial Protection Bureau (CFPB) after oral arguments before an en banc court a few weeks ago, another case with potential implications on the position of CFPB...
President Trump is expected to nominate Joseph Otting, an ally and former employee of Secretary of the Treasury Steve Mnuchin’s OneWest Bank, to manage the Office of the Comptroller of the Currency (OCC). Otting brings an extensive background in commercial banking...
In a recent article in Indian Country Today, NAFSA executive director Gary Davis offered his thoughts on California Rep. Doug LaMalfa, who is the new chairman of the Subcommittee on Indian, Insular and Alaska Native Affairs on the House Natural Resources Committee....
The American Bankers Association (ABA) recently published a report, titled “Small Dollar Credit, Millions of Small Needs Add Up to a Big Deal: Banks Should Be Allowed to Offer Customers Multiple Choices,” detailing the potential entry of banks into small dollar...
President Trump’s proposed budget for the federal government’s fiscal year 2018 includes the near elimination of the Community Development Financial Institution (CDFI) Fund, reducing the program’s budget from $248 million to $14 million. CDFIs provide a wide range of...
In what was originally billed as a hearing on antiquated and ineffective natural resource laws, the House Committee on Natural Resources quickly shifted the debate into a critique on the Indian Reorganization Act of 1934 (IRA): federal legislation that began the...
