U.S. Household Debt Reaches New Record of More than $14 Trillion
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...
Senator Udall Highlights Importance of Government-to-Government Relationships with Tribes
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...
Congresswomen Waters and Beatty Release HFSC Report On Diversity At America’s Large Banks
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...
ABA and CUNA Issue Statements Advising Legislators That Interest Rate Caps Could Harm Consumers and Reduce Offerings
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...
CFPB Clarifies “Abusiveness” Standard in New Policy Statement
CFPB Clarifies “Abusiveness” Standard in New Policy Statement The Consumer Financial Protection Bureau (CFPB) recently issued a statement clearing up how the Bureau plans to tackle the Dodd-Frank Act’s “abusiveness” standard as it undertakes its supervision and...
Kabbage to Begin Offering Short-Term Loans for Small Businesses
Kabbage to Begin Offering Short-Term Loans for Small Businesses Kabbage, the online lending company that provides lines of credit to small businesses, recently announced that it will start offering short-term loans with a repayment period of only three days....
CFPB Director Kraninger Appears Before House Financial Services Committee
CFPB Director Kraninger Appears Before House Financial Services Committee Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger recently appeared before the House Financial Services Committee (HFSC), testifying at a hearing entitled “Protecting...
House Financial Services Committee Convenes Hearing on Banks’ Partnerships with Non-Banks
House Financial Services Committee Convenes Hearing on Banks’ Partnerships with Non-Banks Yesterday, the House Financial Services Committee convened a hearing entitled “Rent-A-Bank Schemes and New Debt Traps: Assessing Efforts to Evade State Consumer Protections and...
