The principle that lenders must actually evaluate the borrower’s chances of success before making a loan is just plain common sense, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray told the press Thursday in conference […]
Guidance to national banks issued four years ago about “Deposit Advance Products” – including payday and other small-dollar, short-term loans – was rescinded Thursday by the Office of the Comptroller of the Currency (OCC), in […]
A final rule requiring payday lenders and others to determine upfront whether consumers can repay their loans was issued Thursday by the Consumer Financial Protection Bureau (CFPB), covering payday loans, auto title loans, deposit advance […]
Legislation which clarifies that a person with state banking regulatory experience must be a member of the Federal Deposit Insurance Corp. (FDIC) Board has been introduced in the Senate; a similar measure has been unveiled […]
The Senate has confirmed Randal Quarles as vice chairman for supervision of the Federal Reserve, the first person to serve in that position. The confirmation of Quarles, 60, is the first by President Donald Trump to […]
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