CFPB: Potential Rule Allows Alternative Data Sources to Score Credit
The CFPB is currently requesting feedback on the potential and risks of using alternative data sources to determine credit scores for financial products. Alternative data sources include rent payments, utility and cell phone bills and other non-traditional credit...
Industry Churn: Moving Beyond the Unsustainability of Payday Lending
NAFSA leads tribal online lending and financial services from the front. Our members offer innovative, sustainable products and services to the millions of credit invisible and underbanked Americans. The products and services anchor NAFSA’s mission and vision to...
Polls Signal Disconnect Between Lawmakers, Voters on CFPB
Recent polls suggest that the Trump Administration’s distaste for the CFPB may not be shared by his constituents. A December study released by GloverParkGroup (GPG) regarding regulatory intervention showed only 19% of Trump voters believed Wall Street is...
UPDATE: Tug-o-War The Unpredictable Fate of the CFPB
UPDATE: On February 16th, the D.C. Circuit court announced that it would rehear the PHH case en banc. Its previous ruling is now vacated, including the Court’s holding that the structure of the CFPB is unconstitutional. The constitutionality question is expected to be...
Hensarling , the CHOICE Act and CFPB UDAAP Authority
On February 6th, the Chairman of the House Financial Services Committee, Rep. Jeb Hensarling (R- TX), shared a memorandum to his leadership team outlining his vision on restructuring the Dodd-Frank Act, including subjecting the Consumer Financial Protection Bureau...
FinTech 101
You may have heard the word “FinTech,” but what exactly does it mean? FinTech stands for “financial technologies” and represents new financial methods of services such as smart phone money transfers, online small business loans, bitcoin and blockchain based public...
NAFSA Says “No” to the Google Ban
In July 2016 Google announced a policy change around payday loans and banned ads for financial solutions and various kinds of online loans. While this total ban may weed out some predatory payday loans or those with extremely high APRs, NAFSA believes that this ban...
Filling the Gap: NAFSA Helping to Create the Next Generation of Tribal Business Leaders
In less than a decade, tribal online lending has become a multi-billion dollar business. Its success rivals the first few years of Indian gaming following the 1988 passage of the Indian Gaming Regulatory Act, when tribal gaming revenues rose from a few hundred million...
