May 7, 2021 | Federal Regulation, News
Treasury Secretary Yellen Names Michael Hsu to Be Acting OCC Head Treasury Secretary Janet Yellen has named Michael Hsu, a Federal Reserve official, to serve as the acting head of the Office of the Comptroller of the Currency (OCC). The OCC is an independent agency in...
May 5, 2021 | Financial Literacy, News
CFPB Report Details Changes in Consumer Financial Status During Early Months of Pandemic A new report in the Consumer Financial Protection Bureau’s (CFPB) Making Ends Meet survey series presents results from the Bureau’s study of COVID-19’s early impact on consumers’...
May 3, 2021 | Congressional Legislation, News
House Financial Services Committee Reauthorizes Task Forces on Financial Technology and Artificial Intelligence Congresswoman Maxine Waters (D-Calif.), Chairwoman of the House Financial Services Committee, recently announced the reauthorization of the Committee’s...
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...
