Jun 2, 2021 | Banks & Credit Unions, News
Banks Look for Credit Card Revenue to Rebound Post-Pandemic As restrictions from the COVID-19 pandemic let up and stimulus checks stop arriving to Americans, big U.S. banks are expecting credit card balances to start increasing again. Lenders like Capital One,...
May 31, 2021 | Banks & Credit Unions, Federal Regulation, News
OCC Report Details Risks and Effects of Pandemic on Federal Banking System The Office of the Comptroller of the Currency (OCC) recently released its “Semiannual Risk Perspective for Spring 2021” which highlights the main issues surrounding the effects of the COVID-19...
May 28, 2021 | Congressional Legislation, News
Brown to Introduce Legislation Capping Interest Rates at 36% Earlier this week, chairman of the Senate Banking Committee Sherrod Brown (D-Ohio) told Reuters that he is prioritizing legislation that would place a national 36 percent APR cap on loans. This announcement...
May 26, 2021 | Congressional Legislation, News
House Financial Services Ranking Member Patrick McHenry: Use Technology to Serve Unbanked and Underbanked Americans The House Financial Services Committee recently held a virtual hearing entitled “Oversight of Prudential Regulators: Ensuring the Safety, Soundness,...
May 24, 2021 | Banks & Credit Unions, News
Banks Planning to Issue Credit Cards to People Without Credit Scores Major U.S. banks like JPMorgan, Wells Fargo, and U.S. Bancorp are planning to start sharing data on customers’ accounts in an effort to provide credit to Americans without credit scores. This...