May 18, 2020 | Banks & Credit Unions, News
Report Finds Average Credit Card Spending Falls 40 Percent Last week, the JPMorgan Chase Institute released a report featuring new data on household credit card spending, finding a 40 percent decrease attributed mostly to the ongoing coronavirus pandemic. The report...
May 11, 2020 | Banks & Credit Unions, Federal Regulation, News
CFPB Releases Final Remittance Rule, Expanding Temporary Protections and Making Them Permanent Earlier today, the Consumer Financial Protection Bureau (CFPB) issued a final rule regarding remittance transfers, also known as international money transfers, which places...
Apr 28, 2020 | Banks & Credit Unions, News
Credit Cards Start Reining in Credit Limits due to COVID-19 Outbreak As millions of Americans face unexpected expenses or income disruptions due to the COVID-19 pandemic, many United States credit card issuers have begun lowering customer spending limits. According to...
Mar 26, 2020 | Banks & Credit Unions, Federal Regulation, News
Five Federal Agencies Encourage Financial Institutions to Offer Responsible Small Dollar Loans to Consumers and Small Businesses Affected by COVID-19 In a joint statement issued earlier today, the Federal Reserve Board of Governors, Federal Deposit Insurance...
Mar 11, 2020 | Banks & Credit Unions, News
U.S. Banks Limit Travel in Response to Coronavirus Many large U.S. banks have strengthened their employee travel restrictions due to the evolving Coronavirus situation unfolding across the globe. Most have limited non-essential trips and are now requiring approval...
Mar 10, 2020 | Banks & Credit Unions, News
Banks Closed More Branches Than Were Opened in 2019 Last year, according to the Branch Banking 2020 Research Report released by JLL, banks closed 3,164 branches in the United States, 56 percent of which were by the 25 largest banks in America. Meanwhile, 1,481...
