Sep 8, 2023 | Banks & Credit Unions, News
Pressure Building in Consumer Loans, According to Latest Fed Data Recent data from the Federal Reserve found heightened pressure in consumer lending, as household debt reached $17 trillion and credit card debt was estimated to surpass the $1 trillion milestone....
Sep 5, 2023 | Banks & Credit Unions, News
ATM Fees Hit Record High as Overdraft and NSF Fees Drop Bankrate’s annual Checking Account and ATM Fee Study found that the average combined ATM fee for out-of-network withdrawals was $4.73, which surpassed the previous average high of $4.72 in 2019. Alternatively,...
Aug 14, 2023 | Banks & Credit Unions, News
U.S. Banks Report Nearly $19 Billion in Loan Losses During Q2 Earlier this month, U.S. banks reported $18.9 billion in loan losses during the second quarter of 2023, according to a report from the Financial Times (FT). That figure is the highest loan-loss rate seen in...
Jul 18, 2023 | Banks & Credit Unions, News
Wells Fargo Promotes Head of Native American Banking to Managing Director Earlier this month, Wells Fargo promoted Dawson Her Many Horses, a member of the Rosebud Sioux Tribe of South Dakota, to managing director, making him one of the first enrolled tribal members to...
Jul 5, 2023 | Banks & Credit Unions, News
ABA Economic Advisory Committee Forecasts Credit Conditions Softening Over Remainder of Year The Economic Advisory Committee of the American Bankers Association (ABA), which is made up of bank economists, predicts credit conditions to soften throughout the rest of the...
May 31, 2023 | Banks & Credit Unions, Federal Regulation, News
CFPB Report Finds Overdraft and NSF Fee Revenue Dropped by Nearly 50% in Q4 2022 The Consumer Financial Protection Bureau (CFPB) recently released a report highlighting overdraft and non-sufficient funds (NSF) fee revenue, finding that revenue for the fourth quarter...
