How Sanders' Bank Plan Would Kill Credit Availability for the Poor
Sen. Bernie Sanders' victory in the New Hampshire primary will undoubtedly provide fresh momentum for his campaign against Hillary Clinton, but is also likely to subject many of his proposals to a harsher spotlight as his credibility as a candidate grows.  more »
Bloomberg News
Sen. Bernie Sanders says a 15% cap on federal credit union lending has "worked well." But it's never really been in place.
Recent high-profile settlements and a New York Times article have drawn fresh attention to problems in the debt collection industry. Many of these could be resolved with the deployment of a trusted national database for consumer debt. more »
Authoritative phone data intelligence can greatly help when it comes to TCPA compliance. more »
Brian Knight is associate director for financial policy at the Milken Institute's Center for Financial Markets.
Despite the House Financial Services Committee's passage of a bill to convert the Consumer Financial Protection Bureau's leadership structure from a single director to a commission, Democrats have largely opposed the bill. more »
Anybody in the consumer contact business - particularly debt collection - is acutely aware of the TCPA violation land mines. Dialing cell phones on a predictive dialer without the consumer’s express permission can result in fines of $1,500 per dial, with threats of class-action lawsuits. more »
Benjamin P. Saul is a partner in Goodwin Procter's consumer financial services litigation practice group.
The Consumer Financial Protection Bureau's current approach to carrying out new authority under the Dodd-Frank Act to punish "abusive" behavior is likely not sustainable. more »
Bloomberg News
Christopher Whalen is senior managing director and head of research at Kroll Bond Rating Agency.
The zero or low default rates reported by banks may on the face be a good sign but could suggest mounting future credit risk, based on a review of data published by the FDIC. more »
Bloomberg News
All On the Same Page Now: As Senators, Joe Biden supported bankruptcy reform but Barack Obama opposed it. More recently, the Obama Justice Department concluded that the law's means test did not unfairly treat distressed borrowers.
The Bankruptcy Abuse and Consumer Protection Act became law 10 years ago this week. The law was the culmination of a bipartisan push in Congress to change a system that seemed to encourage bankruptcy filings during a time of prosperity. It is reasonable to ask, a decade later, whether reform worked. more »
Benign Neglect? "Had they wanted to do so, banks might have competed payday lenders out of business a decade ago," says Dennis Shaul, the CEO of the Community Financial Services Association of America.
The Pew Charitable Trusts' Nick Bourke's recent observation that more competition in short-term credit would benefit consumers is correct. But in the relatively unregulated environment that existed before 2013, very few banks chose to enter this market. more »
L.T. "Tom" Hall is president and CEO of Resurgent Performance.
Community banks must pay more attention to their clients' problems, needs and desires. Unfortunately, too many small banks have embraced a one-size-fits all marketing model. more »
Mayra Rodríguez Valladares is managing principal at MRV Associates.
For proof that events in emerging markets can influence capital markets in the rest of the world, one need only look at the developments of the last few weeks. more »
Adam J. Levitin is a professor of Law at Georgetown University.
There's good reason to be wary of government data collection. But not all government data collection is problematic. The facts about particular government data collection programs matter. more »
Todd Baker is the managing principal at Broadmoor Consulting LLC.
Once again the markets have fallen in love with a group of young, aggressive and not very regulated lenders. more »

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