Trump’s Nominee to Lead the CFPB Advances in the Senate

Trump’s Nominee to Lead the CFPB Advances in the Senate

← Previous Article Next Article → The Senate voted to advance Kathy Kraninger’s nomination to lead the Consumer Financial Protection Bureau (CFPB). This procedural vote, which limits debate in the Senate, brings her one step closer to being the next director...
FDIC Seeks Outside Counsel for Operation Choke Point Suit

FDIC Seeks Outside Counsel for Operation Choke Point Suit

← Previous Article Next Article → Jelena McWilliams, chairman of the Federal Deposit Insurance Corporation (FDIC), announced earlier this month that the FDIC would hire outside legal counsel to review actions taken by the agency during Operation Choke Point....
Algorithms Fail to Eliminate Consumer-lending Discrimination

Algorithms Fail to Eliminate Consumer-lending Discrimination

← Previous Article Next Article → Consumer discrimination continues in banking despite the advancement of algorithmic models used to automate the underwriting process, at least according to an academic study from Berkley. The study analyzed nearly 9 million...
Judge Rules in Favor of Tribal Lender BlueChip Financial

Judge Rules in Favor of Tribal Lender BlueChip Financial

← Previous Article Next Article → U.S. District Judge Robert J. Bryan has stayed a proposed class action lawsuit against tribal lender BlueChip Financial (BlueChip) until the Ninth Circuit Court of Appeals issues a final ruling on whether the company can...
State-level Changes that Will Impact Financial Services

State-level Changes that Will Impact Financial Services

← Previous Article Next Article → During the midterms, Democrats not only flipped enough seats to gain control of the U.S. House of Representatives, but also made substantial gains at the state level, flipping 300 legislative seats across the country. Even...
CFPB and Think Finance Near Settlement

CFPB and Think Finance Near Settlement

← Previous Article Next Article → On the one year anniversary of the Consumer Financial Protection Bureau’s (CFPB) lawsuit against Think Finance, both parties filed a joint motion last Friday to stay discovery for 60 days, a sign that both sides are nearing...
Senate to Vote on Kraninger’s Nomination During Lame Duck

Senate to Vote on Kraninger’s Nomination During Lame Duck

← Previous Article Next Article → Senate Majority Leader Mitch McConnell (R-KY) announced yesterday that the Senate would hold a vote on Kathy Kraninger’s nomination to head the Consumer Financial Protection Bureau (CFPB) before Congress adjourns for the...
FDIC Seeks Public Comments on Small-dollar Lending

FDIC Seeks Public Comments on Small-dollar Lending

← Previous Article Next Article → The Federal Deposit Insurance Corporation (FDIC) announced yesterday that it is seeking information on small-dollar lending, specifically in regards to “consumer demand for small-dollar credit products, the supply of...
Congressional Leadership Roles Begin Taking Shape

Congressional Leadership Roles Begin Taking Shape

← Previous Article Next Article → Last week, House Republican Patrick McHenry (R-NC-10) officially announced his intent to run for the ranking member position on the House Financial Services Committee. If elected, he will be sitting alongside Representative...
Judge Delays Small-dollar Rule’s Compliance Date

Judge Delays Small-dollar Rule’s Compliance Date

← Previous Article Next Article → A federal judge delayed the compliance date of the Consumer Financial Protection Bureau’s (CFPB) rule for  “Payday, Vehicle Title, and Certain High-Cost Installment Loans,” commonly referred to as the Small Dollar or Payday...

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