Younger Consumers Struggling to Pay Credit Card Debts
Younger Consumers Struggling to Pay Credit Card Debts A recent report on first quarter household debt by the Federal Reserve Bank of New York found the share of credit card debt over 90 days past due rose to 10.7 percent in the first quarter, which is a 14-year high....
CFPB Proposes Regulating BNPL Loans Like Credit Cards
CFPB Proposes Regulating BNPL Loans Like Credit Cards Last week, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule that considers Buy Now, Pay Later (BNPL) lenders to be credit card providers. The Bureau says that the move is meant to protect...
Amid Scandal, Gruenberg Announces Plans to Resign Once Successor is Approved
Amid Scandal, Gruenberg Announces Plans to Resign Once Successor is Approved Federal Deposit Insurance Corp (FDIC) Chairman Martin Gruenberg announced last week that he plans to step down after the Special Review Committee’s recent report detailing sexual harassment,...
