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....
More Consumers Turning to Buy Now Pay Later for Holiday Shopping
More Consumers Turning to Buy Now Pay Later for Holiday Shopping A recent report by software and market-research company Adobe Analytics found that the number of buy now, pay later (BNPL) purchases rose 68 percent during the week of Black Friday (November 21 through...
Senate Banking Committee Holds Nomination Hearing for Gruenberg to Lead FDIC
Senate Banking Committee Holds Nomination Hearing for Gruenberg to Lead FDIC The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a nomination hearing last week for Martin Gruenberg to be chairman of the Federal Deposit Insurance Corp. (FDIC)....
More Than Half of Adults Have Delayed a Major Financial Milestone Due to State of Economy
More Than Half of Adults Have Delayed a Major Financial Milestone Due to State of Economy A recent Bankrate.com survey found that 53 percent of American adults have delayed a major financial milestone because of the state of the economy, including milestones like...
Wells Fargo Launches Small Dollar Loan, Offering Customers $250 or $500 for Flat Fee
Wells Fargo Launches Small Dollar Loan, Offering Customers $250 or $500 for Flat Fee Wells Fargo recently launched a new financial product, called Flex Loan, which is marketed as a small dollar loan to help customers meet short-term cash needs. The loan is available...
