Changes to Reporting Could Mean Higher Credit Scores for Millions of Americans
Beginning July 1st, the big three credit reporting bureaus, Experian, Equifax, and Transunion, will no longer rely on certain public records, like civil judgments and tax liens, in calculating credit scores without first independently confirming the identity of the...
Banks Pass Stress Tests, Could Weather Another Recession
As required under the Dodd-Frank Act, the Federal Reserve conducted its regular stress tests of major American banks and released the results late last month. Banks that hold more than $50 billion in assets are mandated to submit to a series of hypothetical tests to...
NAFSA leadership at LDF Tribal Lending Summit
NAFSA staff are in Wisconsin this week attending the LDF Tribal Lending Summit. NAFSA Executive Director Gary Davis will give an update, and staff are represented on panels for banking, marketing, and legal issues. This is the fourth lending summit hosted by the Lac...
How Wells Fargo Became a Proxy for the Fight Over the CFPB
Earlier this week, Senator Elizabeth Warren (D- MA) called for the entire Board of Directors at Wells Fargo to be fired. This is not the first time the Massachusetts senator has demanded a change in leadership at the beleaguered bank. In fact, even when their CEO John...
Georgia Court Upholds TLE Immunity in Dispute with Service Provider
The Georgia Court of Appeals issued an opinion on June 19th regarding a contract dispute and arbitration judgment against a tribal lending entity (TLE) initiated by a former service provider. The Georgia state court vacated the arbitration award against the TLE and...
Credit Bureau Nailed with $60 Million Verdict for FCRA Violations
TransUnion, one of the three main credit reporting agencies (CRAs) for administering most consumer credit information, lost a class action lawsuit recently for violations of the Fair Credit Reporting Act with a final verdict against the credit bureau totalling $60...
Trump Nominates Former HFS Chief Counsel to Run FDIC
President Trump recently nominated James Clinger to serve on the board of the Federal Deposit Insurance Corporation (FDIC) beginning November 29th. The FDIC is an independent federal agency that insures bank deposits and supervises banking institutions. Clinger will...
Tribal Economic Development Expert Gavin Clarkson Tapped for BIA Post
Choctaw Nation of Oklahoma citizen and Associate Professor of Business at New Mexico State University Gavin Clarkson was recently hired to serve as the Deputy Assistant Secretary for Policy and Economic Development at the U.S. Bureau of Indian Affairs (BIA). His...
