The Consumer Financial Protection Bureau’s (CFPB) rulemaking authority survived its first big challenge from the now Republican-dominated houses of Congress when an effort to use the Congressional Review Act (CRA) to repeal new rules for the prepaid card industry passed by the consumer watchdog in...
After almost a decade of complaints regarding a lack of access to credit, the Consumer Finance Protection Bureau (CFPB) has announced it will launch an inquiry into the financing needs of SMBs in the U.S., according to USA Today. “Small businesses fuel America’s economic engine, create...
Last week was not a good week to be the CFPB or Dodd-Frank financial reforms. The House Financial Services Committee voted 34 to 26 to repeal and replace it with the Financial Choice Act and sent it to the House floor for an up or down...
Things are getting tougher for the Consumer Financial Protection Bureau (CFPB) under the new political administration. More banks are now willing to challenge CFPB enforcement actions, said The Wall Street Journal. The CFPB has reportedly announced some 21 enforcement actions in 2017, one-third of which have...
The House Financial Services Committee has voted to send the Financial Choice Act to the full House of Representatives for a floor vote. The majority-backed initiative represents a rollback of the Obama-era financial regulations known collectively as Dodd-Frank. The vote to move the bill along...
Ever since the Dodd-Frank Act gave the Consumer Financial Protection Bureau (CFPB) jurisdiction over just about every US business that provides some form of consumer credit, Republicans have been complaining that the agency has too much power. “Ending the bureaucratic nightmare that is Dodd-Frank . . . is imperative,”...
The Consumer Financial Protection Bureau (CFPB) just recently filed suit against four online lenders for allegedly collecting on consumer debts they were not legally owed. The CFPB suit, filed in federal court, alleges that Golden Valley Lending, Inc., Silver Cloud Financial, Inc., Mountain Summit Financial,...
Protecting consumers from credit card fraud is a massive undertaking and is something that’s not likely taken lightly by the U.S. Consumer Financial Protection Bureau. While an Oct. 2016 regulation was put in place by the bureau to help protect consumers from any hidden terms...
Each year, financial literacy empowerment and economic education non-profit organization Operation HOPE hosts its Global Forums Annual Meeting. The purpose of these series of meetings is to help open up the discussion on how the positive effects of a free enterprise can be extended to...
