Apr 30, 2021 | Federal Regulation, News
Biden Administration Relaunches White House Council on Native American Affairs Last week, Secretary of the Interior Deb Haaland and Domestic Policy Advisor Susan Rice convened the first White House Council on Native American Affairs (WHCNAA) meeting of the Biden...
Apr 28, 2021 | Congressional Legislation, News
House Passes SAFE Banking Act, Which Includes Provisions to Stop ‘Operation Choke Point’ , Last week, the U.S. House of Representatives passed the SAFE Banking Act, legislation that would allow banks and other financial institutions to serve cannabis companies in...
Apr 26, 2021 | Federal Regulation, News
CFPB Releases 2020 Fair Lending Report As part of its activities recognizing April as Fair Lending Month, Fair Housing Month, and Financial Capability Month, the Consumer Financial Protection Bureau (CFPB) recently released its annual Fair Lending Report to Congress. ...
Apr 23, 2021 | Banks & Credit Unions, Congressional Legislation, News
Congressional Democrats Push for Postal Banking Pilot Program Last week, Congresswoman Marcy Kaptur (D-Ohio), Senator Kirsten Gillibrand (D-N.Y.), and Representatives Alexandria Ocasio-Cortez (D-N.Y.) and Bill Pascrell (D-N.J.) urged Congress to authorize postal...
Apr 21, 2021 | Financial Literacy, News
Poll Finds 15 Percent of Americans in Worse Financial Shape Than Before Pandemic A new poll from Impact Genome and The Associated Press (AP)-NORC Center for Public Affairs Research found that nearly 38 million Americans are struggling more today than they were before...
Apr 19, 2021 | Federal Regulation, News
CFPB Proposes 60-Day Delay of Final Debt Collection Rules Earlier this month, the Consumer Financial Protection Bureau (CFPB) proposed delaying the effective date of two debt collection rules issued under the Fair Debt Collection Practices Act (FDCPA). The rules are...
Apr 16, 2021 | FinTech, News
CEI Report: APR Calculations Are Misleading When Applied to Short-Term Loans Last week, a new Competitive Enterprise Institute (CEI) report criticized attempts to impose caps on short-term, small-dollar loans based on a hypothetical annual percentage rate (APR) that...
Apr 14, 2021 | Banks & Credit Unions, News
PNC Certified for New Account Aimed at Underbanked Last month, PNC Financial Services Group became certified from the Cities for Financial Empowerment (CFE) Fund for a second bank account that limits fees, allowing underbanked consumers to maintain access to banking...
Apr 12, 2021 | Banks & Credit Unions, Federal Regulation, News
FDIC Launches Campaign Aimed at Persuading Unbanked to Get Accounts The Federal Deposit Insurance Corporation (FDIC) recently launched a public awareness campaign highlighting the benefits of opening a bank account. The goal of the pilot campaign is to support...
Apr 9, 2021 | Federal Regulation, News
CFPB Rescinds Seven Policy Statements Issued Last Year Last week, the Consumer Financial Protection Bureau (CFPB) announced its rescinding of seven policy statements issued in 2020 that provided temporary flexibility to financial institutions in markets such as...
