Jun 30, 2021 | Banks & Credit Unions, News
Nonbanks Issue More Than Two-Thirds of Mortgages in 2020 Recent industry research from Inside Mortgage Finance showed that nonbank mortgage lenders in the U.S. issued 68.1 percent of all mortgages in 2020, up from 58.9 percent in 2019. The increase is their highest...
Jun 28, 2021 | Banks & Credit Unions, News
New York Democratic Members of Congress Push JPMorgan to Refund Overdraft Fees Collected During COVID-19 Earlier this month, Democrats representing New York in the House of Representatives sent a letter to Jamie Dimon, JPMorgan Chase CEO and Chairman, urging the bank...
Jun 25, 2021 | Congressional Legislation, Federal Regulation, News
House Votes to Overturn True Lender Rule, Sending Repeal to President’s Desk Yesterday, House lawmakers voted to pass legislation overturning the Office of the Comptroller of the Currency’s (OCC) “true lender” rule issued in October, which governs partnerships...
Jun 23, 2021 | Federal Regulation, News
CFPB Restarts MLA Exams The Consumer Financial Protection Bureau (CFPB) recently issued an interpretive rule that reasserts its authority to use Military Lending Act (MLA) exams to protect servicemembers from overpaying for financial services. The CFPB started...
Jun 21, 2021 | Banks & Credit Unions, Financial Literacy, News
Morning Consult Report Finds Nearly 1 in 5 Americans Have Overdrafted Accounts Within Past Year Recent data from Morning Consult showed that nearly half of Americans overdrafted their accounts in the past and 19 percent have overdrafted within the last 12 months. At...
Jun 18, 2021 | Financial Literacy, News
Study Finds One in Three Consumers Found Errors in Credit Report According to a recent study checking consumer credit reports for accuracy conducted by Consumer Reports, 34 percent of the nearly 6,000 Americans who volunteered to be part of the study found errors in...
Jun 16, 2021 | Congressional Legislation, News
Stimulus Checks Helped Americans Pay Bills, Reduce Economic Anxiety, Analysis Shows A new analysis of Census Bureau data revealed that government stimulus checks sent out during the coronavirus pandemic substantially aided Americans in paying basic bills, as well as...
Jun 14, 2021 | FinTech, News
Walmart Adds to Financial Services Offerings with PayNearMe and Green Dot Partnerships Last week, retail giant Walmart announced a new partnership with PayNearMe, a bill payment fintech, and bank technology company Green Dot to provide a way for customers to use cash...
Jun 11, 2021 | Congressional Legislation, News
Senate Passes Eight Bipartisan Indian Affairs Bills Last month, the U.S. Senate Committee on Indian Affairs passed eight bills to help promote Tribal economic development, as well as strengthen Tribal Self-Determination. The bills now head to the House for further...
Jun 9, 2021 | Banks & Credit Unions, Federal Regulation, News
Acting Comptroller Hsu Says No Plans to Review Valid When Made Rule Michael Hsu, Acting Comptroller of the Currency, recently said the Office of the Comptroller of the Currency (OCC) will not review the “valid when made” rule initially implemented during the Trump...
