Jan 2, 2025 | Federal Regulation, News
NY Dept of Financial Services Aims to Increase Financial Regulatory Activities as Many Expect Rollbacks Once Trump Returns to Office The New York Department of Financial Services (NYDFS) plans to place more scrutiny on banks, insurers, and cryptocurrency companies as...
Dec 23, 2024 | Financial Literacy, News
44% of Americans Believe Finances Will Improve Next Year, Survey Finds Bankrate’s most recent Financial Outlook Survey found that 44 percent of Americans think their finances will improve in 2025, compared to 37 percent from the 2023 survey who said they believed...
Dec 19, 2024 | Banks & Credit Unions, Federal Regulation, News
CFPB Rule Limits Overdraft Fees to $5 The Consumer Financial Protection Bureau (CFPB) recently announced a new rule set to go into effect in October 2025 to regulate overdraft programs. Under the new regulations, large financial institutions must choose one of three...
Dec 18, 2024 | Congressional Legislation, News
Rep. French Hill Chosen to Chair House Financial Services Committee Representative French Hill (R-Ark.) has been selected by the Republican Steering Committee to serve as Chairman of the House Financial Services Committee (HFSC), with the impending retirement of the...
Dec 12, 2024 | Federal Regulation, News
CFPB Proposes Rule Taking Aim at Data Brokers Last week, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would restrict data brokers’ access to consumer data and the ability to sell that information. Data brokers collect and sell consumer-level...
Dec 10, 2024 | Federal Regulation, Litigation, News
Federal Judge Upholds Order Blocking CFPB’s Cap on Credit Card Late Fees Earlier this month, federal Judge Mark Pittman of Fort Worth decided to uphold an injunction he issued in May blocking the Consumer Financial Protection Bureau’s (CFPB) $8 cap on credit...
Dec 4, 2024 | Federal Regulation, News
CFPB Payday Lending Rule to Take Effect March 30, 2025, Appeals Court Determines Last week, a panel of the Fifth U.S. Circuit Court of Appeals set March 30, 2025 as the effective date of the Consumer Financial Protection Bureau’s (CFPB) payday lending rule. The rule...
Nov 27, 2024 | Federal Regulation, News
Trump Names Scott Bessent as Treasury Secretary Last week, President-elect Donald Trump named billionaire investor Scott Bessent as Treasury Secretary, likely positioning Bessent to be the key leader of Trump’s economic team. As in his previous administration, Trump...
Nov 25, 2024 | Federal Regulation, News
Regulators Largely Pausing New Rules Until Next Administration Three top financial regulators, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corp. (FDIC), and the Federal Reserve (Fed) recently told the House Financial Services...
Nov 20, 2024 | Congressional Legislation, News
Elizabeth Warren to Lead Democrats on Senate Banking Committee With Republicans taking the majority in the Senate and current Chairman Sherrod Brown (D-Ohio) losing his reelection, that means Senator Elizabeth Warren (D-Mass.) is set to become the top Democrat on the...
