Biden Picks Michael Barr to be Fed Vice Chair for Supervision
Biden Picks Michael Barr to be Fed Vice Chair for Supervision Last week, President Biden announced his intent to nominate Michael Barr as the next Federal Reserve Vice Chair for Supervision after his previous choice, Sarah Bloom Raskin, withdrew from consideration...
Democratic State AGs Push Banks on Overdraft Fees
Democratic State AGs Push Banks on Overdraft Fees Earlier this month, attorneys general (AGs) from more than a dozen states sent letters urging JPMorgan Chase, Bank of America, Wells Fargo, and U.S. Bancorp to eliminate overdraft fees for consumers. In the past year,...
Brown Asks Fed and OCC to Review Bank Mergers
Brown Asks Fed and OCC to Review Bank Mergers Senator Sherrod Brown (D-Ohio), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, recently sent a letter to Federal Reserve Chair Jay Powell and Acting Comptroller of the Currency Michael Hsu,...
21 Attorneys General Say CFPB Should Regulate Buy Now, Pay Later
21 Attorneys General Say CFPB Should Regulate Buy Now, Pay Later Last month, the Consumer Financial Protection Bureau (CFPB) closed its request for comments on the Buy Now, Pay Later (BNPL) inquiry it launched on December 16. Among the comments received, 21 state...
Chopra Plans Crackdown on Repeat Offenders
Chopra Plans Crackdown on Repeat Offenders In a recent speech at the University of Pennsylvania Law School, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra announced plans to rein in repeat industry offenders by potentially forcing the divestiture of...
House Financial Services Committee Holds Hearing on Overdraft Fees
House Financial Services Committee Holds Hearing on Overdraft Fees Last week, the House Financial Services (HFSC) Subcommittee on Consumer Protection and Financial Institutions held a hybrid hearing entitled, “The End of Overdraft Fees? Examining the Movement to...
CFPB Releases 2021 Annual Report; Credit Reporting Receives the Most Complaints While Personal Loans Near Bottom of List
CFPB Releases 2021 Annual Report; Credit Reporting Receives the Most Complaints While Personal Loans Near Bottom of List Last week, the Consumer Financial Protection Bureau (CFPB) released its 2021 Consumer Response Annual Report which analyzes complaints submitted by...
Credit Reporting Firms Announce Removal of Most Medical Debt from Credit Reports
Credit Reporting Firms Announce Removal of Most Medical Debt from Credit Reports The largest credit reporting firms, Experian, Equifax, and TransUnion, recently announced they would erase billions of dollars of medical debt from consumers’ credit reports, which...
