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New S.C. Legislation Would Allow Local Governments To Deposit Taxpayer Dollars Into CUs
The South Carolina Financial Freedom Act has been introduced in the South Carolina Senate. The legislation, S.60, and its companion bill in the South Carolina House of Representatives, H.3221, permit...
Scott Bessent Wins Senate Confirmation as U.S. Treasury Secretary
The U.S. Senate on Monday confirmed Scott Bessent to be President Donald Trump’s Treasury secretary, giving the billionaire hedge fund manager a central role in shaping the new administration’s policy...
Jan. 31: CFPB Recent Updates
Published JAN 30, 2025 CFPB Updates List of Consumer Reporting Companies The Consumer Financial Protection Bureau (CFPB) released its annual list of consumer reporting companies. The list identifies dozens of specialty...
Jan. 24: CFPB Recent Updates
CFPB Finds More Vehicles Eligible for Repossession Than Pre-Pandemic Published JAN 23, 2025 The Consumer Financial Protection Bureau (CFPB) published a report showing that the rate of auto repossessions at the...
A Record Number of Consumers Are Making Minimum Credit Cards Payments as Delinquencies Also Rise
Key Points The share of active credit card holders just making minimum payments rose to 10.75% in the third quarter of 2024, the highest ever in data going back to...
Banking and BNPL Shifts in Limbo as Trump’s Executive Order Pauses Pending Regulations
Amid the blizzard of executive orders that marked the first day of the Trump administration, there was widespread speculation that the new president would take some significant steps to drastically...
NCUA Releases Research Note on Overdraft, NSF Fees at Credit Unions
The National Credit Union Administration today released a Research Note that provides an analysis of statistics for overdraft and non-sufficient funds fees, and observations on the relationship between overdraft and non-sufficient funds...
Jan. 17: CFPB Recent Updates
Published JAN 16, 2025 CFPB Orders Operator of Cash App to Pay $175 Million and Fix Its Failures on Fraud Today, the Consumer Financial Protection Bureau (CFPB) ordered Block, the operator...
Podcast: The CFPB’s Proposed Data Broker Rule
In today’s episode, we discuss the CFPB’s recent proposed data broker rule—a proposal that would greatly expand the reach of the Fair Credit Reporting Act. On December 3, the CFPB...
Jan. 10: CFPB Recent Updates
Published JAN 08, 2025 CFPB Approves Application from Financial Data Exchange to Issue Standards for Open Banking The Consumer Financial Protection Bureau (CFPB) issued an order recognizing Financial Data Exchange, Inc....
How to Protect Yourself from Phishing Attacks in Chrome and Firefox
Phishing is a form of social engineering where attackers try to get you to reveal your sensitive information through malicious links, SMS, QR codes, and more. Here’s how to protect...
Audit Reveals Credit Union’s $12M Loss Was Due to Decades of Fraud
A federal audit of an Omaha-based credit union found statement fraud spanning decades that resulted in the loss of millions of dollars. In a letter obtained by First Alert 6...