SCOTUS Rules that President Can Remove CFPB Director at Will, But Bureau Can Remain
SCOTUS Rules that President Can Remove CFPB Director at Will, But Bureau Can Remain This morning, the Supreme Court issued its long-awaited decision in Seila Law LLC v. CFPB, ruling that the Consumer Financial Protection Bureau can remain in place, although the...
Fed Adds Coronavirus-Related Scenarios to Annual Bank Stress Tests
Fed Adds Coronavirus-Related Scenarios to Annual Bank Stress Tests As part of the Federal Reserve’s annual stress tests, it is also assessing large banks’ abilities to handle recession scenarios related to the COVID-19 pandemic. According to a press release announcing...
CFPB Launches Pilot Advisory Opinion Program
CFPB Launches Pilot Advisory Opinion Program Last week, the Consumer Financial Protection Bureau launched a pilot advisory opinion (AO) program to better assess regulatory uncertainty with current regulations. The proposed program adds to previous efforts to improve...
Understanding & Managing Through COVID-19
Understanding & Managing Through COVID-19 The recent economic shift has greatly affected the lending industry as we know it. Luckily, this unforeseen situation has started to stabilize, and we’re beginning to understand more about where the alternative finance...
World Bank Predicts Worst Global Economic Downturn Since 1940s
World Bank Predicts Worst Global Economic Downturn Since 1940s Earlier this month, the World Bank released an updated “Global Economic Prospects” report predicting, among other things, that millions of people around the world would shift into extreme poverty due to...
Senator Brown Proposes Privacy Bill to Protect Consumer Data
Senator Brown Proposes Privacy Bill to Protect Consumer Data Senator Sherrod Brown (D-Ohio) earlier this week released the Data Accountability and Transparency Act of 2020, a draft privacy bill that would allow Americans to hold the federal government, tech companies,...
California Puts State-Level Financial Protection Agency Proposal on Hold
California Puts State-Level Financial Protection Agency Proposal on Hold California’s plan to create a state consumer financial protection agency⎯announced in January as part of Governor Gavin Newsom’s budget proposal⎯was temporarily put on hold to focus on more...
Income & Employment Trends During COVID-19
Income & Employment Trends During COVID-19 Unemployment claims have exceeded 36 million in America, and our economy is experiencing a shift no one saw coming. In these unprecedented times, consumers have taken drastic measures that are changing their borrowing...
