Judges Grapple With Whether Trump Administration Can Gut CFPB Workforce
Judges Grapple With Whether Trump Administration Can Gut CFPB Workforce A federal appeals court hearing this week underscored the deep legal stalemate over whether the Consumer Financial Protection Bureau can dramatically shrink its workforce under the Trump...
White House Council of Economic Advisers: CFPB Rules Cost Consumers Up to $369 Billion
White House Council of Economic Advisers: CFPB Rules Cost Consumers Up to $369 Billion A new report from the White House Council of Economic Advisers (CEA) claims that regulations issued by the Consumer Financial Protection Bureau (CFPB) have cost consumers between...
Citi CFO Warns 10% Credit Card Rate Cap Would Disrupt U.S. Economy
Citi CFO Warns 10% Credit Card Rate Cap Would Disrupt U.S. Economy Speaking at an investor conference, Citi’s head of U.S. personal banking and incoming Chief Financial Officer, Gonzalo Luchetti, warned that a proposed 10 percent federal cap on credit card interest...
CFPB Tightens Complaint Portal Rules for Credit Report Disputes
CFPB Tightens Complaint Portal Rules for Credit Report Disputes Last week, the Consumer Financial Protection Bureau (CFPB) added new requirements to its consumer complaint portal for credit reporting disputes, directing consumers to first file disputes with credit...
Trump Nominates Former Fed Governor Kevin Warsh to Lead Federal Reserve as Powell’s Term Nears End
Trump Nominates Former Fed Governor Kevin Warsh to Lead Federal Reserve as Powell’s Term Nears End President Donald Trump announced last week that he has selected former Federal Reserve Governor Kevin Warsh to serve as the next chair of the Federal Reserve, once...
Analysis Warns 10% Credit Card Rate Cap Could Cut Off Credit Access for 159 Million Consumers
Analysis Warns 10% Credit Card Rate Cap Could Cut Off Credit Access for 159 Million Consumers A new analysis from the American Banking Association examining the impact of a federal 10 percent APR cap on credit cards finds that the policy could sharply reduce consumer...
Senate Banking Committee Delays Crypto Bill Markup After Industry Support Fractures
Senate Banking Committee Delays Crypto Bill Markup After Industry Support Fractures Senate Banking Committee Chair Tim Scott postponed a planned committee markup of sweeping cryptocurrency market structure legislation, abandoning plans to hold a vote last week amid... President Trump Calls for One-Year 10% APR Cap on Credit Card Interest Rates
President Trump Calls for One-Year 10% APR Cap on Credit Card Interest Rates Last week, President Donald Trump called for a one-year cap on credit card interest rates of 10 percent, reviving a campaign pledge that immediately drew sharp criticism from banking trade... 