American Credit News Reports News

One year after $12M Bank of America fine, CFPB signals potential loopholes to racial reporting rules

Next Thursday, Nov. 28 — Thanksgiving Day — marks one year since the Consumer Finance Protection Bureau (CFPB) ordered Bank of America to pay a $12 million penalty for “submitting false mortgage lending information to the federal government.”

American Fintech Council honors innovators at 2024 Policy Summit

The American Fintech Council (AFC) recently held its 2024 Policy Summit, where it announced the winners of the inaugural AFC Awards.

Trade groups challenge FDIC's brokered deposits rule as legally flawed

The Federal Deposit Insurance Corporation's (FDIC) recent proposal on brokered deposits has come under scrutiny from a coalition of trade associations.

Editorial board criticizes proposed credit-card legislation

The Wall Street Journal Editorial Board has published an op-ed criticizing the Durbin-Marshall Credit Card Bill, which is being pushed by Senator Dick Durbin.

Electronic payments help reduce Thanksgiving dinner costs

The Electronic Payments Coalition (EPC) has released new research highlighting the benefits of electronic payments for both small businesses and consumers during Thanksgiving.

Bipartisan bill supports service dog funding through commemorative coin sales

The U.S. Senate has passed the bipartisan Working Dog Commemorative Coin Act, a bill that was introduced in the House by Chairman Patrick McHenry and led in the Senate by Senators Ted Budd, Mark Kelly, Thom Tillis, and Tammy Duckworth.

FDIC's proposed rule change raises concerns over consumer costs

The Federal Deposit Insurance Corporation (FDIC) has proposed changes to its brokered deposits rule, which the Bank Policy Institute (BPI) claims would increase costs and limit product availability for consumers.

McHenry challenges banking regulators on outdated policies during committee hearing

Today, the House Financial Services Committee, led by Chairman Patrick McHenry, is conducting a hearing to oversee President Biden's prudential banking regulators.

Tim Scott comments on Martin Gruenberg's resignation as FDIC chairman

In Washington, D.C., Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg announced his resignation effective January 19th.

Senate judiciary's credit card hearing faces criticism over bias claims

The Senate Judiciary Committee recently concluded a hearing concerning the Durbin-Marshall Credit Card Bill, which has sparked significant controversy.

Barclays renews co-branded credit card deal with RCI

RCI, a global travel network and leading vacation exchange platform, has renewed its co-branded credit card program with Barclays US Consumer Bank.

American Fintech Council opposes regulatory action on earned wage access providers

The American Fintech Council (AFC) has expressed its opposition to regulatory actions targeting Earned Wage Access (EWA) providers.

House committee releases report calling for FDIC Chair Martin Gruenberg's removal

House Financial Services Committee Republicans have released their final staff report on the workplace culture at the Federal Deposit Insurance Corporation (FDIC) under Chairman Martin Gruenberg.

Trump yet to announce CFPB director nominee amid transition plans

In the wake of the recent election, President-elect Trump has been making several Cabinet nominations and presidential appointments.

Financial groups urge Congress to reject new credit card regulations

The American Bankers Association, America's Credit Unions, and several other financial associations have collectively urged Congress to reject new mandates on credit card regulations.

Senator Scott urges Biden administration to stop rulemaking activities

Washington, D.C. – Senator Tim Scott has urged the Biden administration to halt rulemaking activities and withdraw nominations before the Senate Committee on Banking, Housing, and Urban Affairs.

BPI criticizes FDIC's proposed regulation changes under Change in Bank Control Act

The Federal Deposit Insurance Corporation (FDIC) has proposed amendments to its regulations under the Change in Bank Control Act (CBCA), which have drawn criticism from the Bank Policy Institute (BPI).

Vehicle finance conference to explore AI trends and consumer trust

Join the discussion with a lineup of speakers offering insights on the vehicle-finance landscape.

Banking groups urge Congress to reject new credit card regulation proposals

Several banking and credit union associations have jointly urged Congress to reject proposed legislation that would increase federal oversight in the U.S. credit card market.

State election results shift power dynamics across multiple states

The American Financial Services Association's (AFSA) State Government Affairs team has published its 2024 Post-Election Report, highlighting significant changes in state-level political power following the recent elections.