Jan 9, 2025 | Federal Regulation, News
New CFPB Rule Bans Medical Debt on Credit Reports As the Biden Administration’s days continue to wane, the Consumer Financial Protection Bureau (CFPB) recently finalized a rule that will remove roughly $49 billion in medical debt from the credit reports of nearly 15...
Jan 7, 2025 | Financial Literacy, News
Credit Card Defaults Hit Highest Level Since 2010 The Financial Times is reporting that card lenders wrote off $46 billion in seriously delinquent loans in the first nine months of 2024—a 50 percent increase from 2023 and the highest level since 2010. The write-offs...
Jan 2, 2025 | Federal Regulation, News
NY Dept of Financial Services Aims to Increase Financial Regulatory Activities as Many Expect Rollbacks Once Trump Returns to Office The New York Department of Financial Services (NYDFS) plans to place more scrutiny on banks, insurers, and cryptocurrency companies as...
Dec 23, 2024 | Financial Literacy, News
44% of Americans Believe Finances Will Improve Next Year, Survey Finds Bankrate’s most recent Financial Outlook Survey found that 44 percent of Americans think their finances will improve in 2025, compared to 37 percent from the 2023 survey who said they believed...
Dec 19, 2024 | Banks & Credit Unions, Federal Regulation, News
CFPB Rule Limits Overdraft Fees to $5 The Consumer Financial Protection Bureau (CFPB) recently announced a new rule set to go into effect in October 2025 to regulate overdraft programs. Under the new regulations, large financial institutions must choose one of three...
