OCC Establishes Office of Financial Technology, Appoints Chief Financial Technology Officer
OCC Establishes Office of Financial Technology, Appoints Chief Financial Technology Officer The Office of the Comptroller of the Currency (OCC) recently announced the establishment of the Office of Financial Technology, as well as the selection of Prashant Bhardwaj as...
LexisNexis Survey of Bank Decision Makers Finds Majority of Respondents Use Alternative Credit Data for New Applicants
LexisNexis Survey of Bank Decision Makers Finds Majority of Respondents Use Alternative Credit Data for New Applicants A recent LexisNexis Risk Solutions survey of nearly 225 senior decision makers for lending, marketing, and credit risk found that 65 percent of...
CFPB Launches Inquiry Into Data Brokers’ Business Practices
CFPB Launches Inquiry Into Data Brokers’ Business Practices Earlier this month, the Consumer Financial Protection Bureau (CFPB) launched an inquiry into companies that collect and track consumers’ personal data, giving the public an opportunity to share feedback about...
Survey Finds Consumer Trust in Banks Remains High Despite Recent Collapses
Survey Finds Consumer Trust in Banks Remains High Despite Recent Collapses A recent Morning Consult survey found that Americans’ trust in banks has remained high, despite the collapse of Signature Bank, Silicon Valley Bank (SVB), and Silvergate Capital Corp. 7 in 10...
As SCOTUS Plans to Make Determination, Second Circuit Rules CFPB’s Funding is Constitutional
As SCOTUS Plans to Make Determination, Second Circuit Rules CFPB’s Funding is Constitutional Last week, a three-judge panel of the U.S. Court of Appeals for the Second Circuit ruled that the funding of the Consumer Financial Protection Bureau (CFPB) through the...
Americans Preparing for a Recession are Increasing Savings and Cutting Spending
Americans Preparing for a Recession are Increasing Savings and Cutting Spending A recent Morning Consult survey found that 41 percent of U.S. adults are actively preparing for an economic downturn by saving and decreasing spending. Many are prepping for a recession by...
CFPB Publishes Supervisory Highlights Report on Junk Fees
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...
President’s Budget Includes Billions for Tribal Governments
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...
