Nov 14, 2022 | Banks & Credit Unions, News
Credit Card Debt Back to Pre-Pandemic Levels In September, total credit card balances in the U.S. jumped to $916 billion, which is almost identical to where it was before the pandemic, according to credit-reporting firm Equifax. Balances rose 9 percent from January,...
Nov 11, 2022 | Congressional Legislation, News
Three Days after Election, Control of House and Senate Still Undecided; Key Financial Services Policymakers Win Re-Election While Republicans were widely expected by most prognosticators to take a sizeable majority in the House of Representatives and have a chance at...
Nov 9, 2022 | Federal Regulation, News
CFPB Launches Rulemaking Process to Strengthen Personal Financial Data Rights The Consumer Financial Protection Bureau (CFPB) recently launched a rulemaking process which it says is intended to help strengthen consumers’ control over and access to their financial...
Nov 7, 2022 | Financial Literacy, News
U.S. Personal Savings Rates Drop to Lowest Point Since Great Recession The U.S. personal saving rate, or what percentage of a consumer’s disposable income is left over after they pay taxes and spend money, reached its lowest level since the Great Depression when it...
Nov 4, 2022 | Federal Regulation, FinTech, News
OCC Announces Plans to Establish Office of Financial Technology Last week, the Office of the Comptroller of the Currency (OCC) announced plans to create an Office of Financial Technology in 2023 to help the agency adapt to the changing banking landscape. The office...
Nov 2, 2022 | Federal Regulation, News
CFPB Response in TransUnion Case Lays Groundwork for Potential Appeal to Fifth Circuit Ruling Last month, the Fifth Circuit Court of Appeals issued a long-awaited ruling which found that the independent funding mechanism Congress established to insulate the Consumer...
