Apr 14, 2021 | Banks & Credit Unions, News
PNC Certified for New Account Aimed at Underbanked Last month, PNC Financial Services Group became certified from the Cities for Financial Empowerment (CFE) Fund for a second bank account that limits fees, allowing underbanked consumers to maintain access to banking...
Apr 12, 2021 | Banks & Credit Unions, Federal Regulation, News
FDIC Launches Campaign Aimed at Persuading Unbanked to Get Accounts The Federal Deposit Insurance Corporation (FDIC) recently launched a public awareness campaign highlighting the benefits of opening a bank account. The goal of the pilot campaign is to support...
Mar 29, 2021 | Banks & Credit Unions, News
Illinois Caps Consumer Loan APRs at 36 Percent Last week, Illinois Governor J.B. Pritzker signed a bill capping annual interest rates on all consumer loans at 36 percent. The Governor’s office said that auto title loans in the state currently carry an average annual...
Mar 26, 2021 | Banks & Credit Unions, News
Fintech Study Predicts Bank Branches Will Be Extinct By 2034 A recent study by fintech company Self Financial (Self) predicted that bank branches could be extinct by 2034 if the current footprint reduction trends persist. The study measures branch numbers between 2000...
Feb 17, 2021 | Banks & Credit Unions, News
Big Banks in U.S. Reduce Lending Many of the biggest U.S. banks continue to reduce how much of their collective balance sheets is allocated towards loans, according to Federal Reserve data. The share of total assets devoted to loans across the country’s 25 largest...
Feb 15, 2021 | Banks & Credit Unions, News
Survey Finds 1.2 Million Borrowers Feared Mortgage Foreclosure in December A recent report from the Research Institute for Housing America (RIHA), backed by the Mortgage Bankers Association (MBA), showed that nearly 1.2 million borrowers feared they would be...
