Nov 11, 2020 | Federal Regulation, News
Joe Biden Elected President, Will Set Financial Policy for Next Four Years After several days of counting votes, Democratic presidential candidate Joe Biden unseated incumbent President Donald Trump and is thus set to become the next president of the United States on...
Nov 9, 2020 | Federal Regulation, News
CFPB Reorganizes to Prioritize Supervision over Enforcement A recent internal memorandum circulated at the Consumer Financial Protection Bureau (CFPB) introduced a major internal reorganization that would remove the Office of Enforcement’s autonomy to open...
Nov 6, 2020 | FinTech, News
UBS Launches $200M Fintech Portfolio Last month, multinational investment bank UBS launched UBS Next, a $200 million investment portfolio targeting investments in the tech sector, with a focus on fintech. The bank will use the $200 million portfolio to look at...
Nov 4, 2020 | Financial Literacy, News
Experian Finds Americans Maintaining Healthy Credit Profiles During COVID-19 Pandemic According to Experian’s latest State of Credit report, most Americans are responsibly managing their credit during the global COVID-19 pandemic by taking actions such as reducing...
Nov 2, 2020 | Federal Regulation, News
OCC Finalizes True Lender Rule The Office of the Comptroller of the Currency (OCC) last week finalized its “true lender” rule, which applies a basic test to determine when a bank is considered the true lender when partnering with nonbanks. This is the most recent...
Oct 30, 2020 | Congressional Legislation, News
Native American Business Incubators Act Signed Into Law Last week, the Native American Business Incubators Act was signed into law. Introduced by U.S. Senator Tom Udall (D-N.M.), vice chairman of the Senate Committee on Indian Affairs, the legislation will give...
Oct 28, 2020 | Financial Literacy, News
FICO Scores Hit Fifteen-Year Highs Earlier this month, the Wall Street Journal reported that consumer credit scores have improved in recent months, despite economic uncertainties and hardships resulting from the coronavirus pandemic. The average FICO score was 711 in...
Oct 26, 2020 | Congressional Legislation, News
Senate Democrats Introduce Bill to Ban Discrimination in Financial Services A number of U.S. Senate Democrats recently introduced the Fair Access to Financial Services Act, which would apply the Civil Rights Act’s ban on discrimination against customers to the banking...
Oct 23, 2020 | FinTech, News
Amazon Launches Payday Advance Program for Warehouse Workers Amazon recently launched a program called Anytime Pay, which provides payday advances to the company’s most financially vulnerable warehouse workers, allowing them to instantly access up to half of the...
Oct 21, 2020 | Financial Literacy, News
Fed Study Finds that Americans Used Most of Their Stimulus Checks for Saving and Paying Off Debt A recent study published by the Federal Reserve Bank of New York (Fed) found that the CARES Act’s economic relief payments in March were primarily used to boost Americans’...
