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The Consumer Financial Protection Bureau released a report documenting changes in how consumers have used debt settlement and credit counseling for unsecured debt. The report said nearly one in 13 consumers with a credit record had at least one account reported by creditors as settled or payments managed by a credit counseling agency from 2007 through 2019. Debt settlement and credit counseling became less common after the Great Recession, but settlements are on the rise.
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The House Appropriations Committee approved fiscal 2021 agriculture and rural development legislation. The bill allows for a combined $153 billion in discretionary and mandatory funding, an increase of $331 million over fiscal 2020.
ImageJul 13, 2020
The Independent Community Bankers of America told the Federal Deposit Insurance Corp. that commercial firms should not own full-service banks or industrial loan companies, even if they are subject to enhanced supervision and regulation
ImageJul 10, 2020
Fintech company SoFi applied for a full-service national bank charter with the OCC after withdrawing its industrial loan company application nearly three years ago, according to reports.
ImageJul 10, 2020
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