Jan 27, 2021 | Federal Regulation, News
Yellen Confirmed as Treasury Secretary Yesterday, the U.S. Senate confirmed Janet Yellen’s nomination by a vote of 84-15, making her the first woman Treasury secretary in the Department’s 232-year history. Yellen, one of Biden’s first Cabinet-level nominations, is an...
Jan 25, 2021 | Federal Regulation, News
OCC Finalizes Fair Access Rule As One of Final Moves Before Biden Administration Assumes Office As one of its last moves before the Biden administration assumed office, the Office of the Comptroller of the Currency (OCC) finalized a rule to ensure fair access to...
Jan 22, 2021 | Congressional Legislation, News
Incoming Senate Banking Chairman Lays Out Priorities, Including Focus on Housing United States Senator Sherrod Brown (D-Ohio), who will become Chairman of the Senate Committee on Banking, Housing and Urban Affairs after the Senate flipped to Democratic control,...
Jan 20, 2021 | Federal Regulation, News
Biden Nominates Rohit Chopra to Lead CFPB; Dave Uejio Named as Acting Director as Kraninger Resigns As he continues to fill key roles in his administration, President Joe Biden has nominated Rohit Chopra, currently a member of the Federal Trade Commission, to be the...
Jan 18, 2021 | Federal Regulation, News
Acting Comptroller Brian Brooks Leaves OCC Brian Brooks, who served as Acting Comptroller of the Currency since late May of last year, stepped down from his role atop the Office of the Comptroller of the Currency (OCC) last Friday. Following 12 USC 4, Chief Operating...
Jan 15, 2021 | Federal Regulation, News
Biden Picks Rhode Island Governor Raimondo for Commerce Secretary President-elect Joe Biden recently chose Rhode Island Governor Gina Raimondo to serve as Secretary of Commerce in his Administration, set to take office next Wednesday. She was considered as Biden’s...
Jan 13, 2021 | Federal Regulation, Financial Literacy, News
CFPB Issues 2020 Financial Literacy Report The Consumer Financial Protection Bureau (CFPB) recently issued its 2020 Financial Literacy Annual Report that highlights the Bureau’s activities and strategies to improve consumers’ financial literacy. Congress pushed the...
Jan 11, 2021 | Financial Literacy, News
States Increase Minimum Wage in 2021 With the start of 2021, twenty states have increased their minimum hourly wage, which supporters say will aid in poverty reduction and offer essential pay increases for low-income, poverty workers. They will also help many...
Jan 8, 2021 | Banks & Credit Unions, News
Trade Groups Push to Prioritize Financial Services Workers in COVID Vaccinations In a letter sent to the Centers for Disease Control and Prevention (CDC) earlier this week, the National Association of Federally-Insured Credit Unions (NAFCU) called for credit union and...
Jan 6, 2021 | Congressional Legislation, News
Warnock, Ossof Win in Georgia Runoff Elections, Handing Senate Control to Democrats Yesterday, Georgians went to the polls to cast their votes in two runoff elections that would determine the balance of power in the U.S. Senate. In both elections, the Democratic...
