Gorsuch Tackles Debt Collection in First Opinion for Supreme Court
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...
Hiding in Plain Sight: the Issue of Credit Invisibility in America
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...
House Mulls Contempt Charges for CFPB Director
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...
House Votes to Overhaul Dodd-Frank, Now Senate’s Turn to Review
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...
Upcoming PHH Decision Could Revive Debate Over CFPB Director’s Appointment
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...
Trump Taps Former Banking Exec to Head OCC
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...
NAFSA: Chairman LaMalfa “off to a good start”
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....
ABA Carves Irresponsible Path Toward Small Dollar Bank Lending
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...
