Mar 15, 2019 | Federal Regulation, News
← Previous Article Next Article → Last Monday, President Trump sent Congress a record $4.8 trillion budget proposal for the 2020 fiscal year. The budget also includes a proposal that would subject the Consumer Financial Protection Bureau (CFPB) to...
Mar 12, 2019 | Federal Regulation, News
← Previous Article Next Article → Following a contentious hearing with the House Financial Services Committee last week, Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger testified before the Senate Banking Committee this morning in a...
Mar 11, 2019 | Congressional Legislation, Federal Regulation, News
← Previous Article Next Article → Senator Jeff Merkley (D-OR) and Congresswoman Suzanne Bonamici (D-OR) recently introduced the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act, a bill that would require small-dollar lenders to register with the...
Mar 9, 2019 | Federal Regulation, News
← Previous Article Next Article → Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger made her first appearance before the House Financial Services Committee on Thursday, March 7 at a hearing entitled, “Putting Consumers First? A Semi-Annual...
Mar 8, 2019 | Banks & Credit Unions, News, Tribal Sovereignty
← Previous Article Next Article → The Tax Cuts and Jobs Act of 2017 introduced a new term to the tax code called Opportunity Zones. These are defined as an “economically-distressed community where new investments, under certain conditions, may be eligible...
Mar 7, 2019 | Banks & Credit Unions, FinTech, News
← Previous Article Next Article → According to a recent report by TransUnion, personal loan balances reached a record $138 billion in 2018. The growth in personal loans was led by fintech firms, which made more personal loans than banks, credit unions, and...
Mar 6, 2019 | Litigation, News
← Previous Article Next Article → In 2015, the Second Circuit Court of Appeals issued a ruling in Madden v. Midland Funding that seemed to overturn the “valid-when-made” doctrine, sending shock waves through the financial services sector. Denied a hearing by...
Mar 2, 2019 | Federal Regulation, Litigation, News
← Previous Article Next Article → The Consumer Financial Protection Bureau (CFPB), has filed a lawsuit seeking to enforce a Civil Investigative Demand (CID) against the Law Offices of Crystal Moroney, (LOCM) a debt collection law firm. It is the first CFPB...
Feb 28, 2019 | Congressional Legislation, Federal Regulation, News
← Previous Article Next Article → At a House Financial Services Committee hearing on Tuesday, February 26, Congresswoman Maxine Waters (D-CA-43), chairwoman of the Committee, openly questioned whether the credit reporting sector “is so beyond repair that we...
Feb 26, 2019 | Congressional Legislation, Federal Regulation, News
← Previous Article Next Article → There are nine ways that the Office of the Comptroller of the Currency (OCC) can reduce the risk of regulatory capture, according to the Government Accountability Office (GAO). The OCC, led by the Comptroller of the Currency...
