Mar 2, 2020 | Financial Literacy, News
CFPB Launches Site Encouraging Consumers to Build Savings with Tax Refunds In a new webpage launched last week, the Consumer Financial Protection Bureau (CFPB) is highlighting resources aimed at helping consumers build savings with their tax refunds. Featuring video...
Feb 28, 2020 | Litigation, News
DOJ Backs CFPB in SCOTUS Brief Next week, the U.S. Supreme Court will hear arguments in the long-awaited Seila Law case about the constitutionality of the Consumer Financial Protection Bureau (CFPB)’s leadership structure. While the Trump administration has argued...
Feb 26, 2020 | Congressional Legislation, News
HFSC Chair Maxine Waters Launches Investigation Into Wells Fargo In response to the ongoing issues concerning scandal-plagued Wells Fargo, the House Financial Services Committee (HFSC) recently announced the opening of an investigation into the company’s compliance...
Feb 25, 2020 | Federal Regulation, News
CFPB to Host Consumer Access to Financial Records Symposium This Week This week, the Consumer Financial Protection Bureau (CFPB) will host a symposium on Consumer Access to Financial Records. The symposium will also cover Section 1033 of the Dodd-Frank Act, which...
Feb 24, 2020 | Congressional Legislation, News
Senator Warren Urges Fed Chair to Not Weaken Bank Supervision Process Earlier this month, Senator Elizabeth Warren—who serves on the Senate Committee on Banking, Housing, and Urban Affairs—sent a letter to Federal Reserve Chairman Jerome Powell expressing her concerns...
Feb 20, 2020 | Congressional Legislation, News
Senators Introduce Legislation to Increase Tribal Broadband Access Last week, U.S. Senators Tom Udall (D-N.M.), Maria Cantwell (D-Wash.), and Martin Heinrich (D-N.M.) introduced the Bridging the Tribal Digital Divide Act of 2020, legislation that would help bring...
Feb 19, 2020 | Banks & Credit Unions, News
U.S. Household Debt Reaches New Record of More than $14 Trillion According to the Federal Reserve Bank of New York, overall household debt rose to $14.15 trillion in 2019, setting a new record. Driven by an increase in mortgage loans and credit card debt, Americans...
Feb 18, 2020 | Congressional Legislation, News, Tribal Sovereignty
Senator Udall Highlights Importance of Government-to-Government Relationships with Tribes Earlier this month, Senate Committee on Indian Affairs Vice-Chairman Tom Udall (D-N.M.) addressed the National Congress of American Indians (NCAI) about his work to advance...
Feb 17, 2020 | Banks & Credit Unions, Congressional Legislation, News
Congresswomen Waters and Beatty Release HFSC Report On Diversity At America’s Large Banks House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) and Congresswoman Joyce Beatty (D-Ohio), who chairs the Committee’s Subcommittee on Diversity and...
Feb 13, 2020 | Banks & Credit Unions, News
ABA and CUNA Issue Statements Advising Legislators That Interest Rate Caps Could Harm Consumers and Reduce Offerings Recently, the American Bankers Association (ABA) and the Credit Union National Association (CUNA) issued statements warning lawmakers of the potential...
