Toomey Proposes Legislation to Change CFPB’s Leadership Structure to Bipartisan Board
Toomey Proposes Legislation to Change CFPB’s Leadership Structure to Bipartisan Board Just a few weeks before he is set to leave office, Senator Pat Toomey (R-Pa.), ranking member of the Senate Banking Committee, alongside Senator Bill Hagerty (R-Tenn.), introduced...
Senate Confirms Gruenberg, FDIC Nominees
Senate Confirms Gruenberg, FDIC Nominees On Monday, the U.S. Senate confirmed Martin Gruenberg to be chairman of the Federal Deposit Insurance Corporation (FDIC), Travis Hill as vice chair, and Jonathan McKernan to the remaining seat. Gruenberg, who has served as...
Republicans Blast CFPB Director in Preview of Next Congress
Republicans Blast CFPB Director in Preview of Next Congress During a contentious hearing last week in which Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra testified before the House Financial Services Committee at a hearing entitled “Consumers...
Brown, Democratic Senators Introduce Legislation on Industrial Loan Companies
Brown, Democratic Senators Introduce Legislation on Industrial Loan Companies Earlier this month, Senator Sherrod Brown (D-Ohio), Chair of the Senate Committee on Banking, Housing, and Urban Affairs was joined by two of his Senate colleagues in introducing the Close...
CFPB Proposes Online Registry of Nonbank Repeat Offenders
CFPB Proposes Online Registry of Nonbank Repeat Offenders The Consumer Financial Protection Bureau (CFPB) on Monday proposed requiring certain nonbank financial firms to register with the agency when they become subject to certain local, state, or federal agency court...
Nearly Half of Fintech Lenders Now See Regulatory Challenges as Top Concern
Nearly Half of Fintech Lenders Now See Regulatory Challenges as Top Concern A recent survey of 100 fintech industry leaders found that 32 percent of respondents viewed regulatory challenges as the main threat to their businesses in the first quarter of 2022. For data...
McHenry Officially Selected to Chair House Financial Services Committee Next Congress
McHenry Officially Selected to Chair House Financial Services Committee Next Congress While widely expected to take the gavel of the House Financial Services committee if Republicans won control of Congress in the midterms, Representative Patrick McHenry (R-N.C.) last...
Consumer Demand for Credit Cards On the Rise
Consumer Demand for Credit Cards On the Rise Recent research from the New York Fed shows that U.S. consumers continually sought out more credit cards this year with a 27.1 percent credit card application rate for October, up from a 26.5 percent rate the year before.... 