The Consumer Financial Protection Bureau won’t be sitting still while awaiting a pending Supreme Court challenge to its funding. Upcoming elections will prompt the CFPB to push hard on key issues early in 2024. And as the bureau grows increasingly aggressive, regulated banks and other players will be more willing to go to court to challenge its rulings. Things may get messy fast.
Like with consumer lending products, business loan requirements weed out risky applicants and determine who receives the most attractive interest rates and terms. If you have good credit and stable financials, you’re more likely to receive funding and at lower costs. If you don’t, you might strengthen your application through other requirements for a business loan, perhaps by demonstrating strong sales figures and cash flow or by putting down money or collateral for secured financing. You might even write a persuasive business plan or loan proposal.
At its December meeting, the Federal Communications Commission approved a Report and Order modifying its data protection rules.
The die appears to be cast for one of the most interesting spreads in memory. The only real question left is if FCRA lawsuits in December will tip the tally above the zero point to end in slim positive territory or not. Either way, it will be pretty close with the big three diverging in the most balanced pattern we can remember.
The merger of CUNA and NAFCU culminates next week with the official launch of America’s Credit Unions. This transformation is to provide the credit union industry a stronger and more responsive voice on the national stage.
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