Author: creditcardsconsolidated

Photographer: Samuel Corum/BloombergSamuel Corum/Bloomberg A federal judge on Friday agreed to temporarily block the Trump administration from firing more employees at the Consumer Financial Protection Bureau. U.S. District Judge Amy Berman Jackson ordered the CFPB and acting CFPB Director Russell Vought to “not terminate any CFPB employee, except for cause related to the specific employee’s performance or conduct.”In addition, Berman Jackson, of the U.S. District Court for the District of Columbia, ordered the Trump administration to not issue any notice of reduction-in-force “to any CFPB employee.” She also blocked the defendants from deleting, destroying, removing or impairing “any data or other…

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nCino headquarters in Wilmington, N.C.nCino Fintech company nCino is pursuing growth through acquisitions and new product development as Sean Desmond starts his new role as CEO of the company.nCino announced its purchase of banking technology provider Sandbox Banking for $52.5 million in cash on Tuesday. Previously, nCino also acquired the U.K.-based software company FullCircl for $135 million in October 2024.”As we’re crossing over a half a billion dollars in revenue, we look to aggressively grow this company,” Desmond told American Banker. “I think we’re at a great time in the market right now.”nCino earned $475.5 million in revenue in fiscal…

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Federal Reserve Chair Jerome Powell.Bloomberg News Access to the Federal Reserve’s payments systems will no longer be predicated on a financial institution’s reputation, Fed Chair Jerome Powell told Congress this week. In testimony to the Senate Banking Committee, Powell said the “concept” of reputation risk will no longer be considered when reserve banks evaluate applications for so-called master accounts. He also opened the possibility of reducing the supervisory emphasis on reputational matters more broadly.”It may be that this whole thing with reputation risk needs to be thought about,” Powell said. “We’re taking that concept out of the one manual that we’ve…

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Consumers today have become accustomed to speed: Amazon allows one-click purchases that arrive no more than two business days later; Uber provides taxi services with payments embedded into the experience; and TikTok viewers can buy products directly from the influencers they follow. That same evolution is happening in retail, with customers looking to get through checkout lines faster. In fact, 77% of shoppers prefer self-checkout to staffed checkout because it is faster, according to NCR Voyix’s 2025 Commerce Experience Report. Gen Z and Millennial shoppers led adoption, with 63% and 45%, respectively, saying they preferred self-checkout. More self-checkout is coming…

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WASHINGTON — The Governmental Accountability Office and the Treasury Inspector General said that they will investigate the Department of Government Efficiency’s access to Treasury’s payments data. Both the GAO and the office of the Treasury Inspector General told Sens. Elizabeth Warren, D-Mass., the ranking member of the Senate Banking Committee and Ron Wyden, D-Ore., the ranking member of the Senate Finance Committee, that they have launched probes into DOGE employees’ access to the sensitive federal payment systems located at the Treasury Department. DOGE — a unit within the executive branch tasked with cost-cutting, run by billionaire Elon Musk — gained access to…

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Consumer and employee groups are seeking a temporary restraining order against Russell Vought, the acting director of the Consumer Financial Protection Bureau, saying he was illegally appointed and that his actions to dismantle the agency have usurped the role of Congress.According to a lawsuit filed Thursday, Trump appointed Vought as acting director “without the advice and consent of the Senate” and under the guise of of the Federal Vacancies Reform Act, which permits temporary appointments with the Senate’s consent in cases where the previous holder of a Senate-confirmed seat dies, resigns or is otherwise unable to perform office duties. On Feb.…

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Business loans backed by the Small Business Administration can be an attractive and affordable source of business financing. Yet SBA loans are also notorious for having strict qualification standards.  SBA loans come in several different varieties. The reason your business wants to borrow money and the loan amount you’re requesting can both have an impact on the type of SBA loan your company might be eligible to receive.  Below is an overview of seven different business loans backed by the Small Business Administration. You’ll also find interesting stats about how much funding the SBA issued under these programs in 2020.…

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Wells Fargo has been released from another consent order, marking the fourth regulatory action the bank has shaken off in the last month.The Office of the Comptroller of the Currency terminated a six-year-old consent order related to Wells’ compliance risk management program, the company said Thursday. While the bank has picked up its pace of shedding consent orders, it still remains shackled under the most titanic penalty — a February 2018 order from the Federal Reserve that caps Wells’ assets at $1.9 trillion.The latest order to be terminated, which came down on the bank in April 2018, was accompanied by…

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A DUNS number is a unique identifier for a business entity, such as a sole proprietorship or corporation. You may need one to establish your business credit file with Dun & Bradstreet (D&B) or to facilitate a transaction with the federal government. Whatever your motivation for doing so, here’s everything you need to know about how to get a DUNS number. How to Get a DUNS Number Fortunately, getting a DUNS number is free and straightforward. You can complete the request form in about five minutes. The fastest and easiest way to do it is through the Dun & Bradstreet…

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A proposal to tie cancellation of private mortgage insurance policies to automated valuation models would add unnecessary risk to mortgage portfolios and would result in less, not more, affordable housing, writes Seth Appleton, of U.S. Mortgage Insurers.David Paul Morris/Bloomberg A recent proposal published here (“The FHFA could save borrowers billions with automated PMI cancellation,” Jan. 15) by two former Freddie Mac employees to use automated valuation models, or AVMs, to cancel private mortgage insurance, or MI, prematurely is a short-sighted and risky move that could threaten housing affordability and financial stability in the mortgage finance system. The proposal would create…

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