Despite the old adage that “money can’t buy happiness,” a new study by Wells Fargo is linking money with happiness among the maturing millennial generation. That happiness, however, is not related to purchasing big ticket items or even avocado toast,...
The Federal Reserve released data today showing that consumer credit use grew by more than 4% in August to the tune of $13.1 billion. This was more than one percentage point below the previous month’s data and more than two percentage points below average 2016 levels....
On October 5th, the Senate confirmed Randal Quarles as the next Vice Chairman of the Federal Reserve. Quarles previously served as an Assistant Secretary at the Department of the Treasury under President George W. Bush. He will take the position of Vice Chair of...
Earlier today the Consumer Financial Protection Bureau (CFPB) announced its long-awaited rule on “Payday, Vehicle Title, and Certain High-Cost Installment Loans.” The new rule, informally referred to as the Small Dollar Rule, is expected to take effect 21 months from...
Rep. Carolyn Maloney (D- N) lamented this week that her proposed bill to reform bank overdraft fees will likely stall in the House as partisan politics continue to hamper Congress. In light of Congressional inaction, Rep. Maloney is encouraging the Consumer Financial...