Congressional Resolutions Aim to Overturn CFPB’s Overdraft Rule
Congressional Resolutions Aim to Overturn CFPB’s Overdraft Rule Representative French Hill (R-Ark.), Chairman of the House Financial Services Committee, and Senator Tim Scott (R-S.C.), Chairman of the Senate Banking Committee, introduced Congressional Review Act...
Russell Vought Takes Over as CFPB Acting Director, Closes Office for the Week, and Announces Plans to Cut off Funding; Trump Nominates Jonathan McKernan as Director
Russell Vought Takes Over as CFPB Acting Director, Closes Office for the Week, and Announces Plans to Cut off Funding; Trump Nominates Jonathan McKernan as Director Last week, President Trump appointed Russell Vought as acting director of the Consumer Financial...
Sens. Hawley and Sanders Introduce Bill to Cap Credit Card Interest Rates
Sens. Hawley and Sanders Introduce Bill to Cap Credit Card Interest Rates Earlier this week, Senators Bernie Sanders (I-Vt.) and Josh Hawley (R-Mo.) introduced a bill that would cap credit card interest rates at 10 percent, the average of which is currently 20...
Rohit Chopra Out at CFPB After Firing; Treasury Secretary Bessent Designated Acting Director
Rohit Chopra Out at CFPB After Firing; Treasury Secretary Bessent Designated Acting Director Over the weekend, President Donald Trump fired Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra in the most recent example of Biden administration holdovers...
Survey Finds Only 41% of Americans Could Pay $1000 Expense Using Savings
Survey Finds Only 41% of Americans Could Pay $1000 Expense Using Savings A recent Bankrate survey found that only 41 percent of Americans could use savings to pay for an emergency expense of $1000 or more, which is down from 44 percent last year. This number breaks up...
NY Department of Financial Services Proposes Banning Overdraft Fees on Transactions Under $20
NY Department of Financial Services Proposes Banning Overdraft Fees on Transactions Under $20 The New York Department of Financial Services (NYDFS) recently proposed banning state-chartered banks from charging overdraft fees on transactions that are $20 or less, as...
Scott Outlines Priorities for Senate Banking Committee
Scott Outlines Priorities for Senate Banking Committee Last week, U.S. Senator Tim Scott (R-S.C.), chairman of the Senate Committee on Banking, Housing, and Urban Affairs, laid out his oversight and legislative priorities for the 119th Congress. Scott, the first Black...
With Less than a Week Before Administration Changes, CFPB Issues New Fintech Sandbox Policy
With Less than a Week Before Administration Changes, CFPB Issues New Fintech Sandbox Policy Less than a week before the Trump administration is set to retake the White House, the Consumer Financial Protection Bureau (CFPB) issued new procedures for banks and fintechs...
