May 21, 2021 | Banks & Credit Unions, Financial Literacy, News
Credit Card Balances Still Declining Americans are paying down their credit card debt at the fastest rates in years, so large issuers are spending more on marketing and loosening their standards for underwriting. Card balances at Discover Financial Services, Capital...
Apr 23, 2021 | Banks & Credit Unions, Congressional Legislation, News
Congressional Democrats Push for Postal Banking Pilot Program Last week, Congresswoman Marcy Kaptur (D-Ohio), Senator Kirsten Gillibrand (D-N.Y.), and Representatives Alexandria Ocasio-Cortez (D-N.Y.) and Bill Pascrell (D-N.J.) urged Congress to authorize postal...
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...
