In the News
Second Credit Union Enters into Partnership With Blockchain Initiative
A second credit union has announced a partnership with San Francisco-based Metallicus, the core developer of Metal Blockchain, the foundational Layer O blockchain. The organization said One AZ Credit Union...
Lawsuit Over U.S. Credit Card Late Fees Rule Must Stay in Texas
The U.S. Consumer Financial Protection Bureau on Tuesday suffered a jurisdictional setback in a lawsuit challenging its new rule capping credit card late fees at $8 when a federal appeals...
June 21: Recent CFPB Activities
The Consumer Finance Protection Bureau (CFPB) is responsible for consumer protection in the financial sector. CFPB’s jurisdiction includes credit unions, banks, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services,...
ICYMI: CFPB, Financial Trades Clash Over Wire Transfer Fraud Liability
CFPB says wire transfers are covered by the Electronic Funds Transfer Act Financial services trade groups are railing against the Consumer Financial Protection Bureau’s assertion that consumers who initiate a...
June 14: Recent FinCEN Activities
FinCEN Seeks Comments on Renewal of OMB Control Number for Due Diligence Programs for Correspondent Accounts for Foreign Financial Institutions and Private Banking Accounts On June 11, 2024, the Financial...
June 14: Recent CFPB Activities
The Consumer Financial Protection Bureau The Consumer Finance Protection Bureau (CFPB) is responsible for consumer protection in the financial sector. CFPB’s jurisdiction includes credit unions, banks, securities firms, payday lenders,...
Senators Push for Legal Cannabis Businesses to Have SBA Access
U.S. Sen. Michael Bennet (D-CO) joined a group of Senators to urge the U.S. Senate Committee on Appropriations to provide cannabis businesses with access to Small Business Administration (SBA) programs...
June 7: Recent CFPB Activities
The Consumer Financial Protection Bureau The Consumer Finance Protection Bureau (CFPB) is responsible for consumer protection in the financial sector. CFPB’s jurisdiction includes credit unions, banks, securities firms, payday lenders,...
New Dataset Empowers Researchers To Precisely Track The Effects Of Redlining Over Time
A new dataset will give researchers an unprecedented look at how long-term disinvestment and redlining affects public health. Funded by a grant from the National Institutes of Health (NIH), the...
Buy Now, Pay Later: Who Uses It and Why
Buy now, pay later (BNPL), a short-term, interest-free credit option for retail purchases, is becoming increasingly popular, and evidence indicates that its use is significantly higher among financially vulnerable consumers...
CSBS Blog: Networked Supervision “Makes Us All Better”
“Networked Supervision makes us all better!” Jeff Peterson is not shy about saying that up front. The senior financial services examiner is an enthusiastic supporter of the innovative supervisory approach...
CFPB Blog: Banks’ Responsibility for Scams
The Electronic Fund Transfer Act provides important protections when consumers suffer unauthorized withdrawals from their accounts. For instance, so long as a person promptly notifies their bank that access to...