CFPB Report Finds Overdraft and NSF Fee Revenue Dropped by Nearly 50% in Q4 2022
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...
FDIC and OCC Take Aim at Certain Overdraft Practices
FDIC and OCC Take Aim at Certain Overdraft Practices Last month, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC) warned financial institutions about overdraft practices that they consider unfair or deceptive, saying...
Four Biggest Lenders in U.S. Wrote Off $3.4B in Bad Consumer Loans in Q1 2023
Four Biggest Lenders in U.S. Wrote Off $3.4B in Bad Consumer Loans in Q1 2023 The four biggest U.S. lenders—Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., and Wells Fargo & Co.—wrote off a combined $3.4 billion in bad consumer loans during the...
Survey Finds Consumer Trust in Banks Remains High Despite Recent Collapses
Survey Finds Consumer Trust in Banks Remains High Despite Recent Collapses A recent Morning Consult survey found that Americans’ trust in banks has remained high, despite the collapse of Signature Bank, Silicon Valley Bank (SVB), and Silvergate Capital Corp. 7 in 10...
