Sep 18, 2020 | Banks & Credit Unions, News
CFTC Report Warns Climate Change Poses Risk to Financial System A recent report from a task force for the Commodity Futures Trading Commission (CFTC) warned that climate change could seriously affect the U.S. financial system and urged regulators to move decisively...
Sep 16, 2020 | Banks & Credit Unions, News
Declines in Credit Unions’ Credit Card Debt Mirror Broader Trend According to a new report from WalletHub, Americans have paid down more than $118 billion of credit card debt in 2020, eliminating all of the sector’s 2019 gains. Total credit card debt fell 7.6 percent...
Sep 14, 2020 | Federal Regulation, News
California Legislature Passes Bills Requiring Debt Collectors to Obtain Licenses The California legislature has now passed a third piece of legislation related to the consumer financial services industry, SB 908, which establishes new licensure requirements for debt...
Sep 11, 2020 | FinTech, News, Online Lending
Data Firm Finds Online Loans Holding Up Better Than Expected In a newly-released report, the data firm dv01 found that the percentage of online loan borrowers who made their regularly scheduled loan payments continued to rise in August, despite the lingering and...
Sep 9, 2020 | Federal Regulation, News
Fed Survey Reports Widespread Uncertainty About U.S. Economic Future A recent Federal Reserve report, known as the Beige Book, found that while economic activity was on the rise in August 2020, there is widespread uncertainty about the economic future of the United...
Sep 7, 2020 | Federal Regulation, News
CFPB Report Examines Early Impact of Pandemic on Consumer Credit Last month, the Consumer Financial Protection Bureau (CFPB) issued a report analyzing the early effects of the coronavirus pandemic on consumer credit. Focusing on mortgage, auto and student loans, and...
Sep 4, 2020 | FinTech, News
More States Establishing Regulatory Sandboxes for Fintechs Regulatory sandboxes are increasingly being used across the United States as a way to foster innovation, as they provide opportunities for companies to test new products or offerings before going through the...
Sep 2, 2020 | Congressional Legislation, News
House Financial Services Committee to Hold Seven Hearings in September This month, the House Financial Services Committee (HFSC) will hold seven virtual and hybrid hearings on a range of topics, including financial regulatory accountability and the economic response...
Aug 31, 2020 | Congressional Legislation, News
Sens. Udall and Cantwell Lead Senators in Pressing for Accurate 2020 Census Count for Native Communities Senators Tom Udall (D-N.M.) and Maria Cantwell (D-Wash.) recently joined 18 of their Senate Democratic colleagues in pushing the U.S. Department of Commerce and...
Aug 28, 2020 | Federal Regulation, Financial Literacy, News
CFPB Report Examines How Servicemembers Build Credit Histories Last month, the Consumer Financial Protection Bureau (CFPB) released a report showing how credit records progress with military service for active duty servicemembers aged 18 through 24. It analyzes...
