The U.S. House of Representatives recently passed a sweeping federal budget bill that could significantly reduce funding for the Consumer Financial Protection Bureau (CFPB), marking a major shift in how the agency would be financed moving forward.
Nicknamed the “One Big Beautiful Bill Act,” the legislation proposes capping the CFPB’s annual funding at $249 million — a sharp reduction from the over $700 million it currently accesses from the Federal Reserve. The bill passed narrowly, 215-214, with support falling along party lines.
The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of May 1, 2025, through May 31, 2025.
Under the CRA, the OCC assesses an institution’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with the safe and sound operation of such institution.
Florida Gov. Ron DeSantis recently signed legislation making it clear that debt collection emails sent between 9 p.m. and 8 a.m. do not violate Florida law.
Those are the hours that debt collectors are prohibited from communicating with debtors. Now, emails are excluded from that prohibition.
Wells Fargo cannot seem to stay out of trouble. The bank that created headlines over fake accounts and unauthorized insurance policies is again under fire, alongside several major financial institutions.
Under the Treasury Offset Program, the federal government can collect delinquent debts owed to its agencies. Its rules state that up to 15 percent of a person's Social Security benefits can be withheld to recover defaulted federal student loans. Garnishments cannot lower the monthly benefit amount to less than $750.
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