Policy & Regulation

Think Finance, which had teamed with tribal lenders to offer high interest installment loans, could no longer make or collect on loans in states that have caps on interest rates, under terms of a proposed settlement with the Consumer Financial Protection Bureau.

The payments company is working with nonprofit organizations, law enforcement authorities, victims and others to make it harder for the criminals behind the modern slave trade to move money.

In a letter to CFPB Director Kathy Kraninger, the Democratic senators argue that task force members cannot be trusted to protect consumers because they have represented payday lenders or Wall Street banks, or worked at law firms that did so.

An intraparty rift went public Wednesday over legislation that would impose a 36% rate limit on all consumer loans. Critics are concerned it would cut off minority borrowers’ access to small-dollar loans and hurt some community banks.

The agency agreed to most recommendations made by its inspector general but pushed back on some conclusions.

After the State of the Union speech Tuesday, Republican lawmakers hailed the president's economic record while Democrats continued criticism of an administration plan to reform the Community Reinvestment Act.

Fewer than 30 CUs in the state would be eligible to make use of the rule, intended to help rural institutions and others attract a more qualified pool of directors and committee members.

It’s not even a month into 2020 and some analysts are already predicting a record-setting year and mass adoption for bitcoin.

Each of the half-dozen institutions has $15 million or less in assets and has filed its 5300 late at least once before.

At a recent congressional hearing, OCC chief Joseph Otting showed just how far he might go in allowing reinvestment credits to lenders.