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
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
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...
OCC Drops Arbitration Rule Challenge as It Defends FinTech Charter in Court
Barely a week after Acting Comptroller of the Office of the Comptroller of the Currency (OCC) Keith Norieka threatened to bring the Consumer Financial Protection Bureau’s (CFPB) recent rule on arbitration before the Financial Stability Oversight Council, the OCC is...
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
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....
Native American Financial Services Association Hosts First-Ever Capitol Hill Day
NAFSA’s members discuss tribal lending, economic development with Members of Congress and the Administration July 28, 2017 WASHINGTON, DC – The Native American Financial Services Association (NAFSA) held its first-ever Capitol Hill Day this week in Washington, DC....
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...
