TransUnion Predicts “A Good Year for Consumer Credit” in 2020
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...
PNC and Venmo Argue over Access to Users’ Financial Data
According to a recent article in the Wall Street Journal, financial technology firms and banks are engaged in a dispute over access to customers’ financial data. The latest chapter in the ongoing disagreement erupted when PNC Bank customers stated that they were...
Crapo Outlines Five Options to Address Concerns with Cannabis Banking Legislation
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...
HSFC Chairwoman Waters Accuses CFPB Director Kraninger of Politicizing Enforcement Team
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...
Supreme Court to Take Up Constitutionality of CFPB in March
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...
Congress Passes Native American Language Bill, Sending Legislation to President’s Desk
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...
Experian Report Finds Americans End Decade With Average Credit Score of 682
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... Crapo Announces Opposition to Cannabis Banking Bill
After a long wait and intense speculation from the banking, cannabis, and other industries, Senate Banking Committee Chairman Mike Crapo last week announced his opposition to the House-passed SAFE Act, which would allow banks to serve cannabis businesses. With... 