Louis Brandeis, arguably the most quotable judge in the history of the United States Supreme Court, had his doubts about spontaneous acts of brilliance. “There is no great writing,” he famously said. “There is only great rewriting.” While the world is full of stories of...
The Trump administration is proposing major changes to the Community Reinvestment Act — a law first enacted in 1977 — that experts believe could mean big changes for the rules that govern lending to poor borrowers. According to Wall Street Journal reports, the net effect of...
A decade ago, the world of financial services saw what was perhaps its greatest sea change in a generation — in 2007, two separate, unconnected and epoch-making things happened at the same time. The first was that the iPhone hit the market, igniting the mobile phase...
Last week, at the end of an otherwise dramatic day on Capitol Hill, the Senate managed to pull off something of a twist ending: the repeal of the CFPB’s arbitration rule via a Senate vote that invoked the Congressional Review Act (CRA) to prevent the rule from ever...
December 26, 2017
A decade ago, the world of financial services saw what was perhaps its greatest sea change in a generation — in 2007, two separate, unconnected and epoch-making things happened at the same time. The first was that the iPhone hit the market, igniting the mobile phase of the digital era. That year, the iPhone opened the […]
October 31, 2017
Last week, at the end of an otherwise dramatic day on Capitol Hill, the Senate managed to pull off something of a twist ending: the repeal of the CFPB’s arbitration rule via a...
March 12, 2019
Federal Reserve Governor Lael Brainard said on Tuesday (March 12) that a more flexible look at banks through the lens of the Community Reinvestment Act (CRA) could potentially make capital available for regions outside the usual areas financial institutions cater to. Brainard made the remarks in a speech to the National Community Reinvestment Coalition, Reuters reported. […]
January 11, 2018
The Trump administration is proposing major changes to the Community Reinvestment Act — a law first enacted in 1977 — that experts believe could mean big changes for the rules that...
October 24, 2017
The arbitration clause rule has been formally smacked down by the U.S. Senate — after the 50-50 tie vote was broken by VP Mike Pence. Yes, the same Congress that...
May 16, 2017
The Consumer Financial Protection Bureau’s (CFPB) rulemaking authority survived its first big challenge from the now Republican-dominated houses of Congress when an effort to use the Congressional Review Act (CRA)...
