Senate Democrats Reintroduce Fair Access to Financial Services Act
Senate Democrats Reintroduce Fair Access to Financial Services Act Last week, a group of Democratic Senators led by Banking Committee Chairman Sherrod Brown (D-Ohio) reintroduced the Fair Access to Financial Services Act, legislation that prohibits banks from...
House Republicans: CFPB May Be Colluding with States
House Republicans: CFPB May Be Colluding with States In a letter sent to Consumer Financial Protection Bureau Director Rohit Chopra last week, three Republicans who sit on the House Financial Services Committee allege that the CFPB’s director may be colluding with...
Consumer Confidence Slips for Third Straight Month
Consumer Confidence Slips for Third Straight Month The Conference Board’s consumer confidence index, a survey that tracks consumer buying intentions and attitudes, found that consumer confidence fell for the third month in a row, dropping from 98.4 percent in June to... Congressional Democrats Renew Push to Pass Overdraft Fee Legislation
Congressional Democrats Renew Push to Pass Overdraft Fee Legislation Last month, sources told American Banker that the House Financial Services Committee had set aside the Overdraft Protection Act, a bill introduced by Rep. Carolyn Maloney (D-N.Y) to introduce a...
Michigan Rate Cap Initiative Fails to Make Ballot
Michigan Rate Cap Initiative Fails to Make Ballot Last week, Michigan’s Board of Canvassers declined to certify a proposal to cap interest rates on certain loans that campaign organizers hoped to put on the Michigan ballot in November. While the group organizing the...
CFPB Creates Oversight Office to Deal with Congressional Probes
CFPB Creates Oversight Office to Deal with Congressional Probes A recent internal memo authored by Deputy CFPB Director Zixta Q. Martinez revealed that the Consumer Financial Protection Bureau (CFPB) is creating a new Office of Oversight to manage an expected increase...
N.Y. Department of Financial Services Announces New Guidance on Overdraft and NSF Fees
N.Y. Department of Financial Services Announces New Guidance on Overdraft and NSF Fees The New York State Department of Financial Services (NYDFS) recently issued new guidance prohibiting unfair and deceptive overdraft and nonsufficient funds (NSF) fees. “Access to... Credit Cardholder Confidence Plunged in June to Lowest Level in Four Years
Credit Cardholder Confidence Plunged in June to Lowest Level in Four Years According to LendingTree’s Credit Card Confidence Index, a monthly look at the mindset and payment habits of credit card holders in the United States, confidence sharply declined last month to...
