May 11, 2020 | Banks & Credit Unions, Federal Regulation, News
CFPB Releases Final Remittance Rule, Expanding Temporary Protections and Making Them Permanent Earlier today, the Consumer Financial Protection Bureau (CFPB) issued a final rule regarding remittance transfers, also known as international money transfers, which places...
May 8, 2020 | Congressional Legislation, News
Treasury and Interior Secretaries Announce Distribution of Coronavirus Relief Funds to Tribes United States Secretary of the Treasury Steven T. Mnuchin and Secretary of the Interior David L. Bernhardt recently announced that they had agreed upon a path forward to...
May 6, 2020 | Congressional Legislation, News
Senators Ask SBA Inspector General to Investigate Reports that PPP Lenders Prioritized Larger Clients Over Small Businesses in Urgent Need United States Senators Sherrod Brown (D-Ohio), Chuck Schumer (D-N.Y.), and Ben Cardin (D-Md.) recently sent a letter to Small...
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...
