On October 25, 2023, the Consumer Financial Protection Bureau (CFPB) released its sixth consumer credit card market biennial report to Congress as required under the Credit Card Accountability Responsibility and Disclosure Act (CARD Act). The report focuses on industry market dynamics, use of credit, cost of credit, availability of credit, and issuer practices.
The Office of the Comptroller of the Currency (OCC) is issuing this bulletin to inform banks1 about policy guidance that applies to commercial loans to early-, expansion-, and late-stage companies. This bulletin refers to these loans as “venture loans.”
ALEXANDRIA, Va. (Nov. 1, 2023) – National Credit Union Administration Chairman Todd M. Harper emphasized the power of allyship to achieve diversity, equity, and inclusion goals during his remarks at the NCUA’s 2023 Diversity, Equity, and Inclusion Summit in Washington, D.C.
Credit unions interested in the Community Development Financial Institutions (CDFI) Fund Small Dollar Loan Program can get valuable information on a Nov. 8 webinar hosted by CDFI Fund and NCUA.
The U.S. Department of Education (Department) office of Federal Student Aid (FSA) today announced a $37.7 million fine against Grand Canyon University (GCU), which disbursed the most federal student aid of all participating institutions for the past four award years. An FSA investigation found GCU lied to more than 7,500 former and current students about the cost of its doctoral programs over several years. GCU falsely advertised a lower cost than what 98% of students ended up paying to complete certain doctoral programs.
.jpg)
.jpg)