Mar 20, 2023 | Federal Regulation, News
CFPB Publishes Supervisory Highlights Report on Junk Fees Earlier this month, the Consumer Financial Protection Bureau (CFPB) released “Junk Fees Special Edition,” a Special Edition of its Supervisory Highlights report that discusses how the CFPB examines...
Mar 17, 2023 | Federal Regulation, News
President’s Budget Includes Billions for Tribal Governments Earlier this month, the Biden Administration released its FY2024 budget, which it said in a press release will “invest in America, lower costs and cut taxes for working families, and strengthen Medicare and...
Mar 15, 2023 | Congressional Legislation, News
House Financial Services Committee Holds Hearing on CFPB Reform At a hearing last week, the House Financial Services Committee (HFSC) discussed ways to either reform or defund the Consumer Financial Protection Bureau (CFPB) as Republicans continued to criticize the...
Mar 13, 2023 | Congressional Legislation, Federal Regulation, News
Republican House Members Press Chopra on Credit Card Late Fees Proposal Last week, 17 Republican members of the House Financial Services Committee sent a letter to Rohit Chopra, Director of the Consumer Financial Protection Bureau (CFPB), concerning the CFPB’s credit...
Mar 10, 2023 | Federal Regulation, News
White House Pushes States to Join Crackdown on “Junk Fees” White House officials and Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra recently urged states to join their effort to crack down on “junk fees” that the officials say are...
Mar 8, 2023 | Federal Regulation, FinTech, News
CFPB Issues Report on Financial Profiles of Buy Now Pay Later Customers The Consumer Financial Protection Bureau (CFPB) recently published a report analyzing the financial profiles of buy now, pay later (BNPL) customers, finding that BNPL consumers were more likely to...
Mar 6, 2023 | Financial Literacy, News
Nearly Half of U.S. Adults Have Less or No Savings Compared to One Year Ago A recent Bankrate report found that 49 percent of U.S. adults have either less or no emergency savings compared to a year ago, including 39 percent who have less savings than last year, and 10...
Mar 3, 2023 | Congressional Legislation, News
McHenry Introduces Data Privacy Legislation Last week, Rep. Patrick McHenry (R-N.C.), Chairman of the House Financial Services Committee (HFSC), introduced the Data Privacy Act of 2023, which is meant to modernize financial data privacy laws by requiring financial...
Mar 1, 2023 | Federal Regulation, Litigation, News
Supreme Court Opts to Hear CFPB Funding Case On Monday, the Supreme Court of the United States announced its long-awaited decision to hear a landmark case in its next term, Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of...
Feb 27, 2023 | Federal Regulation, News
CFPB Accuses Big Credit Card Companies of Hurting Consumer Credit Scores by Failing to Report Payments The Consumer Financial Protection Bureau (CFPB) has accused the six largest credit card companies in the U.S. of hurting their customers’ credit scores by failing to...
