Lawmakers Introduce Bipartisan Bill Targeting Credit Repair Scams
Lawmakers Introduce Bipartisan Bill Targeting Credit Repair Scams Sens. Chris Coons (D-Del.) and Lisa Murkowski (R-Alaska) recently introduced bipartisan legislation aimed at cracking down on fraudulent credit repair practices that exploit financially vulnerable...
FDIC Signals Potential Guardrails for Banks Using Public Blockchains
FDIC Signals Potential Guardrails for Banks Using Public Blockchains The Federal Deposit Insurance Corporation (FDIC) is considering new guardrails for how banks engage with public, permissionless blockchains, signaling a shift toward a more structured regulatory...
Judge Orders CFPB to Continue Requesting Federal Reserve Funding
Judge Orders CFPB to Continue Requesting Federal Reserve Funding A federal judge in California ruled that the Consumer Financial Protection Bureau (CFPB) unlawfully refused to request funding from the Federal Reserve, delivering another legal setback to Trump...
Oregon Legislature Votes to Opt out of DIDMCA Interest Rate Export Provisions
Oregon Legislature Votes to Opt out of DIDMCA Interest Rate Export Provisions Lawmakers in Oregon last week approved House Bill 4116—which opts the state out of a provision in the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA)—...
Judges Grapple With Whether Trump Administration Can Gut CFPB Workforce
Judges Grapple With Whether Trump Administration Can Gut CFPB Workforce A federal appeals court hearing this week underscored the deep legal stalemate over whether the Consumer Financial Protection Bureau can dramatically shrink its workforce under the Trump...
White House Council of Economic Advisers: CFPB Rules Cost Consumers Up to $369 Billion
White House Council of Economic Advisers: CFPB Rules Cost Consumers Up to $369 Billion A new report from the White House Council of Economic Advisers (CEA) claims that regulations issued by the Consumer Financial Protection Bureau (CFPB) have cost consumers between...
Citi CFO Warns 10% Credit Card Rate Cap Would Disrupt U.S. Economy
Citi CFO Warns 10% Credit Card Rate Cap Would Disrupt U.S. Economy Speaking at an investor conference, Citi’s head of U.S. personal banking and incoming Chief Financial Officer, Gonzalo Luchetti, warned that a proposed 10 percent federal cap on credit card interest... CFPB Tightens Complaint Portal Rules for Credit Report Disputes
CFPB Tightens Complaint Portal Rules for Credit Report Disputes Last week, the Consumer Financial Protection Bureau (CFPB) added new requirements to its consumer complaint portal for credit reporting disputes, directing consumers to first file disputes with credit...
