Former Fed Chair Janet Yellen Chosen to Become Treasury Secretary Under Biden Administration
Former Fed Chair Janet Yellen Chosen to Become Treasury Secretary Under Biden Administration Economist Janet Yellen has been selected by President-elect Joe Biden to become Treasury secretary when the new administration takes office in January. She will be the first...
As Consumers Pay Down Credit Card Debt, Bank Margins Suffer
As Consumers Pay Down Credit Card Debt, Bank Margins Suffer The Financial Times reported earlier this month that bank card loans declined significantly since the onset of the COVID-19 pandemic as consumers in the United States make progress in paying down their credit...
White House Nominates Brooks to Formally Lead OCC
White House Nominates Brooks to Formally Lead OCC The White House recently announced that Brian Brooks has been formally nominated to lead the Office of the Comptroller of the Currency (OCC) for a five-year term. Brooks currently serves the OCC in an acting capacity,...
CFPB Grants Bank of America Protection for Small Dollar Loans
CFPB Grants Bank of America Protection for Small Dollar Loans The Consumer Financial Protection Bureau (CFPB) recently sent Bank of America a “no-action letter” clearing the bank to offer its previously announced small-dollar loan program without the threat of...
Biden Names Former CFPB Deputy Director Leandra English to Lead Bureau’s Review Team During Transition
Biden Names Former CFPB Deputy Director Leandra English to Lead Bureau’s Review Team During Transition Last week, just days after it was determined that Joe Biden would serve as the 46th President of the United States, the President-Elect named former deputy director...
Reps. Tlaib and Ocasio-Cortez Introduce Bill to Create National Public Banking System
Reps. Tlaib and Ocasio-Cortez Introduce Bill to Create National Public Banking System Last month, Representatives Alexandria Ocasio-Cortez (D-N.Y.) and Rashida Tlaib (D-Mich.), both of whom serve on the House Financial Services Committee, introduced legislation...
Joe Biden Elected President, Will Set Financial Policy for Next Four Years
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...
CFPB Reorganizes to Prioritize Supervision over Enforcement
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...
