Articles
FTC Publishes Annual Performance Report
CFPB Changes Expected As Biden Administration Settles In
As reported, President-elect Joe Biden nominated Rohit Chopra, a commissioner at the Federal Trade Commission (FTC), to lead the Consumer Financial Protection Bureau (CFPB), replacing Kathy Kraninger as director (who remains in her post in a term that technically runs through 2023, but is likely to be replaced by Biden).
Digital loans: Credit lending landscape in the post COVID-19 world
Credit Union Fraud Falls in 2020
Credit union insider fraud cases did not take a holiday in 2020, but they substantially declined, presumably because of the coronavirus economic and health crisis. There were 10 internal fraud cases, and three former credit union employees who were convicted and sentenced for embezzlement/theft crimes, for a total of 13 fraud cases this year prosecuted in federal, state or local courts. That number is quite low compared to 2019, when there were an estimated 15 insider fraud cases and 17 former credit union employees who were convicted and sentenced for embezzlement/theft crimes, for a total of 32 criminal cases. External fraud cases that victimized credit unions were not counted in these totals.
Biden picks Gary Gensler to lead SEC, Rohit Chopra to helm CFPB
President-elect Joe Biden will nominate Gary Gensler to lead the Securities and Exchange Commission and Rohit Chopra to lead the Consumer Financial Protection Bureau, the campaign announced Monday. Gensler is the former commissioner of the Commodity Futures Trading Commission and is a former partner at Goldman Sachs Group Inc. Chopra currently serves on the Federal Trade Commission, and as an ally of Sen. Elizabeth Warren formerly worked as student-loan watchdog at the CFPB.