WASHINGTON–One day after it was announced, Sen. Tom Cotton (R-AR) said he will use the legislative process to un-do the CFPB’s new ban on mandatory arbitration clauses.
Fresh Today
WASHINGTON–A credit union CEO will tell Congress today that a “tidal wave” of regulations is swamping credit union boats, while large financial institutions just continue to get larger.
NEW YORK–The new rules enacted by the CFPB may not explicitly outlaw arbitration, but industry lawyers told The New York Times that they will effectively “kill the practice.”
WASHINGTON–While credit unions have expressed “concerns” over a new CFPB rule that bans certain “forced arbitration” clauses in credit card, auto loan, student loan, payday loan, and other financial contracts, the Consumer Federation of America is hailing the decision.
WASHINGTON–The Independent Community Bankers of America (ICBA) is expressing its displeasure over the new CFPB rule banning forced arbitration agreements.
WASHINGTON—Consumer Financial Protection Bureau Director Richard Cordray's pledge that the Bureau would issue a proposal in the coming weeks to raise the home equity line of credit reporting threshold is a “victory,” CUNA says.
TUKWILA, Wash.–Avanti Markets, which operates food and other product kiosks in lunch areas and break rooms in companies across the country, is reporting the nearly 2,000 of those kiosks have been breached by hackers.
GLADSTONE, Mo.—B&B Theatres here is investigating a credit card data breach it said may have lasted as long as two years.
IRVINE, Calif.—As of April, 4.8% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure, a 0.5 percentage point decline in the overall delinquency rate compared with April 2016 when it was 5.3%, according to the Loan Performance Insights Report from CoreLogic.
HOUSTON–Allpoint, the world’s largest surcharge-free ATM network, with 55,000 ATMs across the United States and beyond, announced the addition of select Rite Aid Pharmacy store locations in the Northeast, Mid-Atlantic and Midwest regions. Allpoint Network is a wholly owned subsidiary of Cardtronics.