Kraninger Appears Before House Financial Services and Senate Banking Committees
Kraninger Appears Before House Financial Services and Senate Banking Committees Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger appeared before both chambers of Congress last week in a pair of hearings on the CFPB’s Semi-Annual Report to Congress....
Senate Passes Bill to Prevent Garnishment of Relief Payments by Private Debt Collectors
Senate Passes Bill to Prevent Garnishment of Relief Payments by Private Debt Collectors Recently, the U.S. Senate passed a bipartisan bill to protect recovery payments supplied by the CARES Act from being garnished by private debt collectors. The bill was introduced...
Biden Proposes Public Credit Reporting Agency in Policy Plan
Biden Proposes Public Credit Reporting Agency in Policy Plan In a recent plan outlining the presumptive Democratic presidential nominee’s housing policies, Joe Biden has proposed creating a public credit reporting agency within the Consumer Financial Protection...
CFPB Study Finds Credit Builder Loans Can Help Consumers Build Credit
CFPB Study Finds Credit Builder Loans Can Help Consumers Build Credit The Consumer Financial Protection Bureau (CFPB) recently issued a report entitled “Targeting Credit Builder Loans: Insights from a Credit Builder Loan Evaluation,” which found that credit builder...
Dodd-Frank Act Turns Ten
Dodd-Frank Act Turns Ten Last week, on the 10th anniversary of the Dodd-Frank Act being signed into law, its major supporters praised its survival despite years of opposition. The legislation’s authors, former Senator Chris Dodd (D-Conn.) and former Representative...
OCC Issues Proposed True Lender Rule
OCC Issues Proposed True Lender Rule On Monday, the Office of the Comptroller of the Currency (OCC) proposed a new rule that would clarify when banks are the “true lenders” of loans when involved with third parties. In so doing, the rule would resolve key...
Banks Urged to Make Small Dollar Loans, but Remain Reluctant
Banks Urged to Make Small Dollar Loans, but Remain Reluctant In recent years, regulatory agencies under the Trump Administration have pressed credit unions and banks to offer more credit options for consumers, including small dollar loans. However, banks have remained...
CFPB Releases Results of Making Ends Meet Survey
CFPB Releases Results of Making Ends Meet Survey Last week, the Consumer Financial Protection Bureau (CFPB) released the first results from its Making Ends Meet survey, which is part of the CFPB’s mission to study the competitive marketplace, credit access, and...
