In the News
Rodney E. Hood Announced as Acting Comptroller of the Currency
The U.S. Department of the Treasury announced the appointment of Rodney E. Hood as Acting Comptroller of the Currency, effective February 10, 2025. U.S. Secretary of the Treasury Scott Bessent...
Financial Firms Hated US Consumer Watchdog, But Rapid Unraveling Creates Limbo
At a JPMorgan townhall meeting on Wednesday, CEO Jamie Dimon was asked whether the Trump administration’s decision to abruptly stop work at the Consumer Financial Protection Bureau (CFPB) and question...
FCC Delays Implementation of New Text Message Consent Rules
On January 24, the FCC issued an order postponing the effective date of its one-to-one consent rule. The rule, which would have required companies to obtain individual consent for each...
CFPB: Strengthening State-Level Consumer Protections Report
The CFPB is releasing new recommendations to states on how they can update their laws and regulations to meet new risks and challenges. Consumer protection law has long been a...
President Trump Enacts Regulatory Freeze and Halts Public Communications for Federal Agencies
On January 20, 2025, President Donald Trump signed a memorandum titled, “Regulatory Freeze Pending Review,” imposing a regulatory freeze on all federal agencies. The key points of the regulatory freeze are as...
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...