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...
Banks Stockpile Cash to Prepare for Wave of Coronavirus Loan Defaults
Banks Stockpile Cash to Prepare for Wave of Coronavirus Loan Defaults Some of the largest U.S. banks, including JPMorgan Chase & Co., Citigroup Inc., and Wells Fargo, are choosing to stow away billions of dollars to prepare for future defaults and other loan...
House Financial Services Committee Convenes Hearing on Protecting Workers’ Pay During Pandemic
House Financial Services Committee Convenes Hearing on Protecting Workers’ Pay During Pandemic Last week, the House Financial Services Committee (HFSC) held a hearing titled “Paycheck Security: Economic Perspectives on Alternative Approaches to Protecting Workers’...
CFPB Launches Consumer Financial Protection Week
CFPB Launches Consumer Financial Protection Week This week, the Consumer Financial Protection Bureau (CFPB) is launching its first Consumer Financial Protection Week, which will take place today through Friday. The virtual event will concentrate on issues consumers... OCC Report Highlights Risks for Federal Banking System
OCC Report Highlights Risks for Federal Banking System Recently, in its Semiannual Risk Perspective for Spring 2020, the Office of the Comptroller of the Currency (OCC) reported the main issues surrounding the effects of the COVID-19 pandemic on the federal banking...
CFPB Issues Final Rule on Small Dollar Lending
CFPB Issues Final Rule on Small Dollar Lending Earlier this week, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited small dollar lending rule to preserve consumer access to competition and credit. Upon finding the mandatory underwriting...
Senate Indian Affairs Committee Hears Testimony on Seven Native American Bills
Senate Indian Affairs Committee Hears Testimony on Seven Native American Bills Senator John Hoeven (R-N.D.), Chairman of the Senate Committee on Indian Affairs, held a hearing last week to receive testimony on seven bills meant to protect Native American communities....
