Nov 26, 2021 | Federal Regulation, News
CFPB Sues Pawn Lenders for MLA Violations Earlier this month, the Consumer Financial Protection Bureau (CFPB) sued FirstCash, Inc. and Cash America West, Inc., two pawn lenders that the Bureau alleges violated the Military Lending Act (MLA) by charging active-duty...
Nov 22, 2021 | Federal Regulation, Financial Literacy, News
Democratic Senators Push CFPB to Reform Credit Reporting Last week, in a letter sent to CFPB Director Rohit Chopra, seven Democratic Senators urged the Consumer Financial Protection Bureau (CFPB) to take steps toward reforming the credit reporting industry....
Nov 19, 2021 | Federal Regulation, News
OCC Nominee Omarova Testifies at Confirmation Hearing Yesterday, President Biden’s nominee for the Office of the Comptroller of the Currency (OCC), Professor Saule Omarova, testified before the Senate Banking Committee at her confirmation hearing. While her nomination...
Nov 17, 2021 | Banks & Credit Unions, Congressional Legislation, News
More Than 20 Governors Urge Congress to Add Cannabis Banking to Defense Bill More than 20 governors signed a joint letter to members of Congress earlier this month, advocating for them to add cannabis banking legislation to the 2022 National Defense Authorization Act...
Nov 15, 2021 | FinTech, News
Fintech Startup Launches BNPL Alternative Accrue Savings, a fintech startup based in New York, recently announced an alternative to the typical Buy Now Pay Later (BNPL) loans that the company says will be safer and more beneficial for consumers. Importantly, the...
Nov 12, 2021 | Federal Regulation, Financial Literacy, News
CFPB Report Finds People of Color and Young Borrowers More Likely to Have Disputes on Credit Report The Consumer Financial Protection Bureau (CFPB) recently released Disputes on Consumer Credit Reports, part of a series of reports on consumer credit trends created...
Nov 10, 2021 | Congressional Legislation, News
Congress Passes Historic Infrastructure Package Which Includes Significant Funding for Native Communities Late last Friday, after months of delay, the House of Representatives passed the Infrastructure Investment and Jobs Act, a historic, more than $1 trillion...
Nov 8, 2021 | Financial Literacy, News
Experian Introduces New Integration Providing Lenders with Access to Payroll Account Data Experian recently introduced new verification capabilities that provide lenders with access to more than 120 million permissioned consumer payroll accounts from more than 40 of...
Nov 5, 2021 | FinTech, News
BNPL Lenders Look to Finance Travel Spending As COVID restrictions continue to ease and more consumers return to traveling, Buy Now/Pay Later (BNPL) lenders are eager to expand from financing purchases of goods to providing financing for travelers—a purchase category...
