Feb 17, 2023 | Congressional Legislation, News
Sen. Cramer Introduces Fair Access to Banking Act U.S. Senator Kevin Cramer (R-N.D.) recently introduced the Fair Access to Banking Act, which would prohibit financial institutions from limiting or denying services to certain industries. Banks would instead be...
Feb 15, 2023 | Banks & Credit Unions, News
Banks Tightening Credit Standards, According to Fed Survey The most recent quarterly senior loan officer opinion survey from the Federal Reserve found banks reporting both weaker demand and stricter standards for commercial and industrial real estate, consumer loans,...
Feb 13, 2023 | Financial Literacy, News
TransUnion Report Finds Consumers Looking to Credit Products to Make Ends Meet A recent TransUnion report highlighting credit activity in Q4 of 2022 found that credit card balances hit a record $931 billion, which increased 18.5 percent from the fourth quarter of...
Feb 10, 2023 | Federal Regulation, News
Banks to CFPB: Rule to Cut Late Fees Requires Small Business Review Small community banks and credit unions have recently stated that they will be forced to sue the Consumer Financial Protection Bureau (CFPB) if their plan to cut credit card late fees to $8 goes into...
Feb 8, 2023 | Congressional Legislation, News
Senate Banking Committee Ranking Member Tim Scott Announces Policy Priorities Last week, U.S. Senator Tim Scott (R-S.C.), the new Ranking Member on the Senate Committee on Banking, Housing, and Urban Affairs, released his oversight and legislative priorities for the...
Feb 6, 2023 | Financial Literacy, News
More Higher Earners Report Living Paycheck to Paycheck A new survey by PYMNTS.com and LendingClub found that 64 percent of American consumers were living paycheck to paycheck at the end of 2022, which is 3 percent higher than in 2021 and an increase of 9.3 million...
