Jul 20, 2022 | Federal Regulation, News
N.Y. Department of Financial Services Announces New Guidance on Overdraft and NSF Fees The New York State Department of Financial Services (NYDFS) recently issued new guidance prohibiting unfair and deceptive overdraft and nonsufficient funds (NSF) fees. “Access to...
Jul 18, 2022 | Financial Literacy, News
Credit Cardholder Confidence Plunged in June to Lowest Level in Four Years According to LendingTree’s Credit Card Confidence Index, a monthly look at the mindset and payment habits of credit card holders in the United States, confidence sharply declined last month to...
Jul 15, 2022 | Federal Regulation, News
Barr Confirmed for Fed Vice Chair of Supervision On Wednesday, The U.S. Senate confirmed Michael Barr to serve as Vice Chair of Supervision at the Federal Reserve (Fed), where many expect that he will crack down on big banks while being open to new fintechs playing a...
Jul 14, 2022 | Financial Literacy, FinTech, News
More Consumers Now Using Buy Now Pay Later for Everyday Expenses Buy Now, Pay Later (BNPL) loans have become popular payment methods for big-ticket items, but consumers have been using them recently for everyday purchases, likely due to increased prices for goods...
Jul 11, 2022 | Financial Literacy, News
New Fed Data Shows Consumer Credit Usage Hit Record High in May According to new data released by the Federal Reserve last week, consumer borrowing rose by $22.3 billion between April and May, pushing total outstanding credit to a record high. Despite reaching a new...