News Archives
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...
Treasury Announces 2024 National Illicit Finance Strategy
Strategy Highlights Recent Reforms to Close Loopholes Exploited by Illicit Actors; Recommendations Include Increasing Transparency, Leveraging Partnerships, and Supporting Responsible Technological Innovation The U.S. Department of the Treasury issued the...
NCUA Board Briefed on Share Insurance Fund’s First Quarter Performance
The National Credit Union Administration Board held its fourth open meeting of 2024 and received a briefing by the Deputy Chief Financial Officer on the performance of the National Credit Union Share...
May 23: 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,...
U.S. Supreme Court Upholds Consumer Finance Watchdog Agency’s Funding Mechanism
May 16 (Reuters) – The U.S. Supreme Court on Thursday upheld the Consumer Financial Protection Bureau’s funding mechanism in a challenge brought by the payday loan industry, handing a victory to President Joe Biden’s administration and...
May 17: 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,...
Navigating the Regulatory Maze: Hemp Industry Calls for Additional Federal Action
The hemp industry wants additional regulation. Yes, you read that correctly, and stakeholders are coalescing to push for action from the federal government. The passage of the 2018 Farm Bill...
The Importance of Educating Members on Fraud Alert Procedures
“How do I know if it’s the credit union or a scammer?” The importance of educating our members on the fraud alert procedure. Have you ever received a call from...
Agencies Issue Guide to Assist Community Banks to Develop And Implement Third-Party Risk Management Practices
Federal bank regulatory agencies, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency, today released a guide to support community...
May 10: 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,...