In the News
CFPB Says Overdraft Fees Are Junk Fees — But Are They?
Labels are popular on Capitol Hill. And this week the labels are flying fast and furiously, aimed at big banks and credit unions. The Consumer Financial Protection Bureau (CFPB) put forth a...
Jan. 12, 2024: Recent CFPB Updates
Today, the Consumer Financial Protection Bureau (CFPB) issued guidance to consumer reporting companies to address inaccurate background check reports, as well as sloppy credit file sharing practices...
How Europe Is Dominating Tech Regulation
The Biden administration has signaled a crackdown on corporate America, but U.S. regulators’ teeth seem to be smaller and blunter than the dentition seen across the pond. Why it matters: For all...
Ecority Projects U.S. Credit Unions Could Deploy $107B In Clean Energy Financing
Ecority, a nonprofit that has built a national coalition of credit unions and state-chartered green banks, is projecting that U.S. credit unions could finance 5.3 million projects for a total...
Agencies Release Final Rule on Practice and Procedure
The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and the National Credit Union Administration, published a final rule...
Key Cybersecurity Skills Gap Statistics You Should Be Aware Of
As the sophistication and frequency of cyber threats continue to escalate, the demand for skilled cybersecurity professionals has never been bigger. The skills gap is not merely a statistical discrepancy;...
Mr. Cooper Hit with Second Class-Action Suit Related to Data Breach
Cyber attack exposed 14.6 million customers’ personal information. Mortgage loan giant Mr. Cooper is grappling with a second class-action lawsuit after a significant data breach compromised 14.6 million customers’ personal...
Dec. 22, 2023: CFPB Updates This Week
PUBLISHED DEC 20, 2023 CFPB and Justice Department Sue Developer and Lender Colony Ridge for Bait-and-Switch Land Sales and Predatory Financing The Consumer Financial Protection Bureau (CFPB) and the Justice Department...
Nearly Two-Thirds of Struggling Consumers Revolve Credit Card Balances
The holiday season has offered little reprieve from the rising prices of goods and services still weighing on consumers’ wallets. Many consumers use credit cards as a cash flow management...
PSR Enforces “Step-Change” in Reimbursement Rules for APP Fraud Victims
The UK’s Payment Systems Regulator (PSR) has confirmed plans to improve protections for victims of authorised push payments (APP) fraud, which will come into force in October 2024. In what...
FinCEN Updates Frequently Asked Questions on Beneficial Ownership Information
The Financial Crimes Enforcement Network (FinCEN) has updated its Beneficial Ownership Information (BOI) Frequently Asked Questions to include new questions related to general questions, the reporting process, reporting companies, reporting...
National Flood Insurance Program Left Treading Water, Again
The National Flood Insurance Program is drowning in a sea of debt and policymakers have been unable, or unwilling, to enact a long-term rescue of the program. At the end...