Posts Tagged ‘CFPB’

CFPB’s prepaid card rule survives Congress challenge

CFPB prepaid rule CongressLast October, the CFPB issued its Final Rule for Prepaid Accounts which established comprehensive consumer protections for prepaid accounts under Regulation E. Due to the timing of the rule, Congress had until Thursday to repeal the regulation by passing a disapproval resolution in both chambers with simple majorities under the Congressional Review Act (CRA). That deadline came and went without a repeal of the Bureau’s new rule.

CFPB holds small business lending field hearing and issues white paper, RFI

On May 10, the CFPB held a field hearing about small business lending in Los Angeles, California. In conjunction with the field hearing, the CFPB issued a Request for Information (RFI) in order to obtain feedback to help the Bureau better understand the small business lending market, along with a white paper “reviewing the available evidence concerning the small business lending landscape.”