Jan 23, 2023 | Banks & Credit Unions, News
More Than a Quarter of Checking Account Holders Paying Fees Every Month A new Bankrate study found that 27 percent of U.S. adults, or 57 million people, currently pay monthly fees for their checking accounts, such as routine service charges, ATM fees, and overdraft...
Jan 20, 2023 | Congressional Legislation, News
McHenry Announces House Financial Services Subcommittee Chairs, New Subcommittee on Digital Assets, Financial Technology, and Inclusion House Financial Services Committee Chair Patrick McHenry (R-N.C.) recently announced the committee’s subcommittee chairs for the...
Jan 18, 2023 | Federal Regulation, News
Yellen Agrees to Stay on as Treasury Secretary Through End of Biden’s First Term Treasury Secretary Janet Yellen agreed to remain in her position through the rest of Biden’s presidential term as the White House faces growing challenges like the need to raise the...
Jan 16, 2023 | Financial Literacy, News
More Consumers Rolling Over Credit Card Debt from Month-to-Month A new Bankrate report released last week found that the number of adults carrying credit card debt from month to month jumped six points from last year to 35 percent. It also found that roughly 46...
Jan 13, 2023 | Financial Literacy, News
Credit Card Rates Poised to Hit 40-Year High This Year Credit card interest rates are expected to reach an average of 20.5 percent by the last week of 2023, up from 19.6 percent in the last week of 2022. This is the highest average seen in 40 years, which is painful...
Jan 11, 2023 | Federal Regulation, News
CFPB Creates “Repeat Offender Unit” to Target Large Banks In a recent report about its supervisory activity, the Consumer Financial Protection Bureau (CFPB) said that it had created a “repeat offender unit” to monitor large banks that frequently violate consumer...