Two hours of debate in front of the U.S. Supreme Court are in the books in a case that could impact the funding structure of the Consumer Financial Protection Bureau at a critical time for the agency, consumers, and the financial services industries it oversees.
Washington — The Supreme Court on Tuesday weighed the constitutionality of the Consumer Financial Protection Bureau's funding structure in what is the most significant test of the agency's 13-year existence, with several of the justices expressing skepticism toward arguments that the mechanism is outside the bounds of the Constitution.
LANSING – Michigan Attorney General Dana Nessel is warning residents about fraudulent smishing text messages with an alleged delivery notification and tracking link, purporting to be from the United States Postal Service (USPS).
On September 19, the Consumer Financial Protection Bureau (CFPB) issued Circular 2023-03, which provides guidance as to how lenders must explain denials of applications of credit when the underwriting is based on artificial intelligence (AI) or complex credit models.
Today, credit unions hold about 5 percent of all outstanding mortgage debt in the U.S., including a large and growing percentage of second mortgages. While this market share is small when compared to that of banks and non-bank lenders, credit unions play an important role in fostering home ownership in communities nationwide, especially in rural or underserved areas and communities often overlooked by traditional financial institutions.
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