Republican Reps Say FDIC has “Moved Innovation Backwards”
Republican Reps Say FDIC has “Moved Innovation Backwards” Representatives Patrick McHenry, chairman of the House Financial Services Committee; Andy Barr, chairman of the Financial Institutions and Monetary Policy Subcommittee; and French Hill, chairman of the Digital...
Bankrate Report Finds Only 44% of Adults in US Would Pay $1000 Emergency Expense from Savings
Bankrate Report Finds Only 44% of Adults in US Would Pay $1000 Emergency Expense from Savings Bankrate’s annual emergency savings report found that only 44 percent of U.S. adults say they would pay a minimum $1,000 emergency expense from their savings, which is up one...
CFPB Proposes Rule Limiting Banks’ Ability to Charge NSF Fees on Instantaneously-Declined Transactions
CFPB Proposes Rule Limiting Banks’ Ability to Charge NSF Fees on Instantaneously-Declined Transactions The Consumer Financial Protection Bureau (CFPB) recently proposed a new rule to prevent banks and financial institutions from charging non-sufficient funds (NSF)...
Supreme Court Signals It Will Claw Back Federal Agency Power
Supreme Court Signals It Will Claw Back Federal Agency Power Last week, the Supreme Court signaled that it will likely cut back the regulatory power of federal agencies when several justices indicated during a pair of arguments they were ready to overrule a legal...
CFPB Proposes Rule to Crack Down on Overdraft Fees
CFPB Proposes Rule to Crack Down on Overdraft Fees Last week, the Consumer Financial Protection Bureau (CFPB) proposed a rule to rein in excessive overdraft fees that would close a loophole exempting overdraft lending services from provisions of the Truth in Lending...
House Financial Services Committee Announces Bipartisan AI Working Group
House Financial Services Committee Announces Bipartisan AI Working Group Last week, House Financial Services Committee (HFSC) Chairman Patrick McHenry (R-N.C) and Ranking Member Maxine Waters (D-Calif.) announced the formation of the Committee’s bipartisan Working...
33% of Consumers Saw Credit Scores Decline After Unexpected Expense
33% of Consumers Saw Credit Scores Decline After Unexpected Expense A recent report by PYMNTS Intelligence and Sezzle entitled “Credit Card Use During Economic Turbulence” found that roughly 60 percent of all consumers had an unexpected expense in the last year,...
Rep. Blaine Luetkemeyer, Influential Voice on House Financial Services Committee, Announces Retirement from Congress
Rep. Blaine Luetkemeyer, Influential Voice on House Financial Services Committee, Announces Retirement from Congress Rep. Blaine Luetkemeyer (R-Mo.), a senior member of the House Financial Services Committee, announced last week that he will retire at the end of the...
