Aug 2, 2021 | Banks & Credit Unions, News
“Buy Now, Pay Later” Firms Continue to Gain Popularity Recent data from Morning Consult showed that awareness and usage of “Buy Now, Pay Later” (BNPL) services have steadily increased since the start of the coronavirus pandemic. 17 percent of U.S....
Jul 19, 2021 | Banks & Credit Unions, News
Wells Fargo Ending Personal Lines of Credit Earlier this month, Wells Fargo announced the discontinuation of its personal lines of credit product offerings. The revolving credit lines allowed customers to borrow anywhere from $3,000 to $100,000, and were typically...
Jul 16, 2021 | Banks & Credit Unions, News
Consumer Borrowing Surged in May by Most on Record American consumers have started borrowing more as the economy recovers from COVID-19, especially in auto loans and leases, general-purpose credit cards, and personal loans. Bloomberg economists predicted an $18...
Jul 5, 2021 | Banks & Credit Unions, Congressional Legislation, News
Rep. Maloney Introduces Overdraft Protection Act Representative Carolyn Maloney (D-N.Y.), a senior member of the House Financial Services Committee, recently reintroduced her Overdraft Protection Act, which would restrict the number of times banks can collect...
Jun 30, 2021 | Banks & Credit Unions, News
Nonbanks Issue More Than Two-Thirds of Mortgages in 2020 Recent industry research from Inside Mortgage Finance showed that nonbank mortgage lenders in the U.S. issued 68.1 percent of all mortgages in 2020, up from 58.9 percent in 2019. The increase is their highest...
Jun 28, 2021 | Banks & Credit Unions, News
New York Democratic Members of Congress Push JPMorgan to Refund Overdraft Fees Collected During COVID-19 Earlier this month, Democrats representing New York in the House of Representatives sent a letter to Jamie Dimon, JPMorgan Chase CEO and Chairman, urging the bank...
