Mar 6, 2020 | Banks & Credit Unions, FinTech, News
Survey Finds that More Than Half of Consumers Would Prefer Fintechs over Traditional Banks Ondot Systems, a California-based fintech company, recently released findings from a Harris Poll survey indicating that consumers are increasingly willing to try fintech...
Feb 19, 2020 | Banks & Credit Unions, News
U.S. Household Debt Reaches New Record of More than $14 Trillion According to the Federal Reserve Bank of New York, overall household debt rose to $14.15 trillion in 2019, setting a new record. Driven by an increase in mortgage loans and credit card debt, Americans...
Feb 17, 2020 | Banks & Credit Unions, Congressional Legislation, News
Congresswomen Waters and Beatty Release HFSC Report On Diversity At America’s Large Banks House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) and Congresswoman Joyce Beatty (D-Ohio), who chairs the Committee’s Subcommittee on Diversity and...
Feb 13, 2020 | Banks & Credit Unions, News
ABA and CUNA Issue Statements Advising Legislators That Interest Rate Caps Could Harm Consumers and Reduce Offerings Recently, the American Bankers Association (ABA) and the Credit Union National Association (CUNA) issued statements warning lawmakers of the potential...
Feb 5, 2020 | Banks & Credit Unions, Federal Regulation, News
CFPB Report on Small Business Lending and the Great Recession Outlines Decline in Access to Credit and Uneven Recovery The Consumer Financial Protection Bureau (CFPB) recently released a data point showing how small business lending has developed before, during, and...
Jan 29, 2020 | Banks & Credit Unions, Federal Regulation, News
OCC Commissioner Says Guidance on Small-Dollar Loans for Banks Coming Soon Joseph Otting, Comptroller of the Currency, told reporters at a press roundtable last week that bank regulators like the OCC hope to make small dollar loans a simpler alternative to payday...
