Four Trade Groups Ask Lawmakers to Instate Five-Person Board to Lead CFPB

WASHINGTON, D.C. —  Four associations representing 12,000 banks and credit unions submitted a letter to Senate leaders urging them to consider replacing the Consumer Financial Protection Bureau (CFPB)’s single-director structure with a five-person bipartisan commission next year. The associations listed in the letter, which was sent on Wednesday to Senator Majority Leader Mitch McConnell (R-Ky.) ... Read More »

Compliance Summit Adds Certification Component

US Equity Advantage Temporarily Suspends Business in 16 States

ORLANDO, Fla. — US Equity Advantage (USEA) will temporarily suspend its biweekly loan payment service in 16 of the 50 states in which it does business at the end of September. The decision comes in response to recent regulatory changes concerning licensed money transmission and related restrictions placed on the company by its banking partners. ... Read More »

Democrats Reintroduce Auto Safety Reform Bill

Washington — A group of House Democrats is reintroducing sweeping auto safety reform legislation a year after General Motors Co. recalled 2.6 million vehicles now linked to at least 57 deaths, reported The Detroit News. Rep. Jan Schakowsky, D-Ill., is reintroducing a measure that would dramatically hike the National Highway Traffic Safety Administration’s auto safety ... Read More »

Pushing Employers to Offer Better Retirement Plans