Sep 1, 2021 | Financial Literacy, News
Seven Million Americans May Lose Unemployment Aid After Labor Day For many Americans, next week represents a looming monetary cliff with the potential to significantly impact their financial situations, as more than seven million Americans are set to lose their...
Aug 30, 2021 | Banks & Credit Unions, News
NY Enacts Law Tackling Overdraft Fees As one of his final acts in office, now-former Democratic Governor of New York Andrew Cuomo signed a bill earlier this month targeting bank overdraft fees. The legislation will go into effect January 1, 2022, and will prohibit New...
Aug 27, 2021 | Banks & Credit Unions, News
Wells Fargo Reverses Plan to End Personal Credit Lines Wells Fargo is reversing its decision to end personal lines of credit, a plan the bank released last month that did not fare well among consumers who use the credit product. The decision also drew criticism from...
Aug 25, 2021 | Financial Literacy, News
Average FICO Score Continues to Rise; Hits 716 in April 2021 FICO recently announced that the average FICO credit score hit 716 in April 2021, which is eight points higher than one year ago and five points higher than the average score reported in October 2020. The...
Aug 20, 2021 | FinTech, News
Legislation Introduced to Include Fintech Lenders in SBA Loan Program Earlier this month, Senators Tim Scott (R-S.C.) and John Hickenlooper (D-Colo.) introduced legislation—the Expanding Access to Credit for Small Business Act—that would permit fintechs to...
Aug 18, 2021 | Banks & Credit Unions, News
NYDFS Superintendent to Resign August 24 New York State Department of Financial Services (NYDFS) Superintendent Linda Lacewell announced earlier this month her intent to resign, effective August 24. Her resignation comes after a report tied her to the sexual...
Aug 16, 2021 | Congressional Legislation, News
Senate-Passed Infrastructure Bill Includes More Than $11 Billion for Indian Country Last week, the U.S. Senate passed the Infrastructure Investment and Jobs Act, broad legislation to rebuild America’s infrastructure as well as fund climate resilience and broadband...
Aug 13, 2021 | Federal Regulation, News, Tribal Sovereignty
Senate Confirms Bryan Todd Newland to be Assistant Secretary for Indian Affairs Last week, the U.S. Senate confirmed Bryan Todd Newland of Michigan as the Assistant Secretary-Indian Affairs at the Department of the Interior. Newland will advise Interior Secretary Deb...
Aug 11, 2021 | Federal Regulation, FinTech, News
Warren Urges Yellen to Crack Down on Cryptocurrency In a recent letter, Senator Elizabeth Warren (D-Mass.) urged Treasury Secretary Janet Yellen to work through the Financial Stability Oversight Council, which she chairs, to develop a regulatory strategy on...
