Jan 8, 2020 | Banks & Credit Unions, News
The Consumer Financial Protection Bureau (CFPB) recently released a report examining the differences between large and small mortgage servicers and exploring the role that servicers of different sizes play in the mortgage market where size is defined by the number of...
Jan 7, 2020 | Congressional Legislation, News
In a letter sent to Federal Deposit Insurance Corporation (FDIC) Chairwoman Jelena McWilliams last month, Representative Katie Porter (D-Calif.) requested that the agency closely examine partnerships between online lenders and banks. These partnerships have come under...
Jan 6, 2020 | Banks & Credit Unions, News
According to a recent Bloomberg News report based on filings from companies and labor unions, banks around the world cut nearly 80,000 jobs in 2019, which some have suggested is a response to a slowing economy and financial firms’ continued adoption of digital...
Jan 3, 2020 | Banks & Credit Unions, FinTech, News
TransUnion researchers analyzed macroeconomic conditions and their impact on credit cards, personal and auto loans, and mortgages to predict that 2020 will be a good year for consumer credit, with low delinquencies and strong growth for most sectors. This prediction...
Dec 31, 2019 | Congressional Legislation, News
Recently, Senate Banking Committee Chairman Mike Crapo (R-Idaho) announced his opposition to the Secure and Fair Enforcement (SAFE) Banking Act of 2019, which was introduced by Rep. Ed Perlmutter (D-Colo.) in March and passed the House of Representatives in September...
Dec 30, 2019 | Congressional Legislation, News
Earlier this month, Representative Maxine Waters (D-Calif.), Chairwoman of the House Financial Services Committee, sent a letter to Consumer Financial Protection Bureau (CFPB) Director Kathleen Kraninger accusing her of politicizing the Bureau. The letter came after...
Dec 27, 2019 | Litigation, News
On March 3, the U.S. Supreme Court will hear oral arguments in Seila Law v. Consumer Financial Protection Bureau, a landmark case that will determine whether the leadership structure of the CFPB is constitutional. Opponents of the Bureau have long argued that the...
Dec 26, 2019 | Congressional Legislation, News
Earlier this month, the House of Representatives passed S. 256, the Esther Martinez Native American Languages Programs Reauthorization Act, a bill that protects the survival and continuity of Native American languages by strongly funding them from fiscal year 2020...
Dec 24, 2019 | Financial Literacy, News
Last week, Experian released key findings from its annual State of Credit Report, which highlighted trends in credit and spending behaviors in advance of the new year. Included in these findings is that the average credit score for consumers reached an eight-year high...
