Tag: finance
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House Votes to Eliminate Dodd-Frank
Today, the House of Representatives voted to pass the Financial CHOICE Act of 2017; among its objectives, the act aims to restructure the Consumer Financial Protection Bureau (CFPB) into a consumer law enforcement agency and replace the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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CFPB Releases Report Promoting Diversity and Inclusion
The Consumer Financial Protection Bureau (CFPB) has released a report summarizing strategies for the promotion of diversity and inclusion (D&I) by mortgage industry professionals. Addressing diversity practices, such as establishing engagement from top leadership, the report comes from the CFPB’s collaboration with the financial services industry.
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Financial CHOICE Act of 2017: What does the future hold for consumers and entrepreneurs?
On Wednesday, the Financial Services Committee (FSC) held the “A Legislative Proposal to Create Hope and Opportunity for Investors, Consumers, and Entrepreneurs” hearing on the Financial CHOICE Act of 2017. The bill’s objective is stated in its discussion draft as, “To create hope and opportunity for investors, consumers, and entrepreneurs by ending bailouts and Too Big…
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Cybersecurity Still an Issue within Banks
A recent Accenture report surveying hundreds of senior banking security executives around the world, Building Confidence: Solving Banking’s Cybersecurity Conundrum, reveals that cybersecurity threats for banks and other financial services institutions remain a pervasive problem despite general bank confidence.
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Tax Day: Americans Identify What Bothers Them Most About Their Taxes
Today is Tax Day, a flagship day capping off a time of year that worries and excites Americans alike as they file their returns. A new study from the Pew Research Center, Top Frustrations With Tax System: Sense That Corporations, Wealthy Don’t Pay Fair Share, reveals what bothers Americans most about their taxes.
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National Financial Capability Month 2017: How is Your Financial Literacy?
April is National Financial Capability Month, 30 days dedicated to recognizing the importance of financial literacy for a stable future and teaching Americans to establish sound financial practices. Originating from initiatives to educate the youth on healthy financial habits, the Senate passed Resolution 316 in 2004 officially dedicating the fourth month of the year to…
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Financial Services Committee: Testimonies on Bank Lending
Today, the Subcommittee on Financial Institutions and Consumer Credit held a hearing entitled “The State of Bank Lending in America,” to hear testimony on the effects of regulation on small business owners and homebuyers seeking access to credit.
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Women in Finance Are Reprimanded More Harshly than Men
A new report by business professors from the University of Chicago, Stanford, and the University of Minnesota reveals that female financial advisors are punished more strongly than men for engaging in misconduct. Following an occurrence of misconduct, women are 20 percent more likely to lose their jobs and 30 percent less likely to secure…
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Federal Reserve Board encouraging “consumers to closely monitor their financial accounts”
The holiday spirit is in full tow! From malls across America to online retailers, consumers are excitedly shopping for their loved ones’ perfects gifts. You must always remember to keep track of your finances during the holidays, a time when your accounts are experiencing increased activity.
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Know Before You Lose!
Small businesses often struggle as a result of limited capital and few employees, and they shouldn’t be adversely affected by resources meant to assist them. Unfortunately, there are several unknown risks.