Feb 8, 2023 | Congressional Legislation, News
Senate Banking Committee Ranking Member Tim Scott Announces Policy Priorities Last week, U.S. Senator Tim Scott (R-S.C.), the new Ranking Member on the Senate Committee on Banking, Housing, and Urban Affairs, released his oversight and legislative priorities for the...
Feb 6, 2023 | Financial Literacy, News
More Higher Earners Report Living Paycheck to Paycheck A new survey by PYMNTS.com and LendingClub found that 64 percent of American consumers were living paycheck to paycheck at the end of 2022, which is 3 percent higher than in 2021 and an increase of 9.3 million...
Feb 3, 2023 | Federal Regulation, News
CFPB Releases Proposal Slashing Credit Card Late Fees The Consumer Financial Protection Bureau (CFPB) recently issued a proposed rule that it says will rein in excessive credit card late fees that cost Americans nearly $12 billion every year. The Bureau alleges that...
Feb 1, 2023 | Financial Literacy, News
Recent Study Finds Illinois Rate Cap Reduced Access to Credit A recent study found that the 36 percent interest rate cap on consumer loans imposed by the 2021 Illinois Predatory Loan Prevention Act (PLPA) decreased the availability of small-dollar credit and worsened...
Jan 30, 2023 | Financial Literacy, News
Majority of Adults in U.S. Unable to Afford $1,000 Emergency Expense A recent Bankrate report found that 57 percent of U.S. adults could not afford a $1,000 emergency expense. When asked how they would pay for an emergency expense, only 43 percent said they would use...
