May 4, 2020 | Federal Regulation, News
CFPB Report Shows Substantial Decline in Credit Applications in March According to a report issued last week by the Consumer Financial Protection Bureau (CFPB), consumer credit applications considerably declined in March, likely as a result of the COVID-19 pandemic....
May 1, 2020 | Congressional Legislation, News
Senators Brown and Booker Push Banks to Suspend Overdraft Fees United States Senators Sherrod Brown (D-Ohio) and Cory Booker (D-N.J.) recently wrote a letter to 15 bank CEOs, urging them to temporarily ban burdensome overdraft fees for customers during the COVID-19...
Apr 29, 2020 | Congressional Legislation, News
New Coronavirus Relief Package Signed Into Law Last week, in the latest effort to provide relief to small businesses impacted by the COVID-19 pandemic crisis, the House of Representatives passed the Paycheck Protection Program (PPP) and Health Care Enhancement Act,...
Apr 28, 2020 | Banks & Credit Unions, News
Credit Cards Start Reining in Credit Limits due to COVID-19 Outbreak As millions of Americans face unexpected expenses or income disruptions due to the COVID-19 pandemic, many United States credit card issuers have begun lowering customer spending limits. According to...
Apr 27, 2020 | Congressional Legislation, News
Tribal Gaming Enterprises Allowed Access to Paycheck Protection Program after Hoeven and Udall Push Treasury to Reverse Decision Last week, the Small Business Administration (SBA) issued an interim final rule that removed restrictions excluding Tribal casinos from...
Apr 23, 2020 | Financial Literacy, NAFSA News, News
NAFSA Marks Financial Literacy Month with Digital Financial Education Modules Since 2004, April has officially been recognized as National Financial Literacy Month, a time to highlight the importance of financial literacy and teach Americans how to establish and...
Apr 22, 2020 | Congressional Legislation, News
House Financial Services and Oversight Committee Chairs Urge FDIC to Boost Crisis Readiness Policies Members of the House Financial Services and Oversight Committees recently wrote a letter to the FDIC seeking information on whether—and how—the agency is prepared to...
Apr 21, 2020 | Congressional Legislation, FinTech, News
Fintechs Approved to Make Small Business Loans Under Paycheck Protection Program After aggressive lobbying, three fintech companies ⎯ PayPal, Square Capital, and Intuit QuickBooks Capital ⎯ recently announced that they were authorized by the federal government to make...
Apr 20, 2020 | Financial Literacy, News
Experian’s Clarity Services Releases 2020 Alternative Financial Services Lending Trends Report Experian’s Clarity Services Inc., which specializes in alternative financial services data and solutions, recently released its 2020 Alternative Financial Services Lending...
Apr 16, 2020 | Federal Regulation, News
CFPB Issues Interpretive Rule to Allow Consumers to Receive Economic Impact Payments Quickly Via Prepaid Cards Earlier this week, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule paving the way for consumers to collect the pandemic-relief...
