Credit Unions Looking Into Fintech Partnerships
Credit Unions Looking Into Fintech Partnerships As consumer expectations change in a trend toward a more digital financial services landscape, credit unions are now exploring new services to remain innovative in a market that is rapidly growing more competitive. As...
Federal Reserve Hiring Private Sector Tech Talent In Push to Evolve with Financial System
Federal Reserve Hiring Private Sector Tech Talent In Push to Evolve with Financial System Federal Reserve chair Jerome Powell recently said that he wants to put the agency at “the forefront of technological changes” in the financial sector, which is driving the Fed’s...
CFPB Releases Report on Financial Challenges Facing Rural Communities
CFPB Releases Report on Financial Challenges Facing Rural Communities Earlier this month, the Consumer Financial Protection Bureau (CFPB) released a report on financial challenges faced by Americans living in rural communities, finding that many of these communities...
Yellen Backs Crypto Regulations
Yellen Backs Crypto Regulations In a speech at American University earlier this month, Treasury Secretary Janet Yellen outlined the Treasury Department’s plan to regulate digital assets like cryptocurrency, which largely reflects the Biden administration’s priorities....
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... 