Jun 28, 2023 | Financial Literacy, News
Majority of Americans Uncomfortable With Their Level of Emergency Savings A recent Bankrate report found that 57 percent of Americans are uncomfortable with their amount of emergency savings, including one-third of Americans who say they are very uncomfortable. Less...
Jun 22, 2023 | Federal Regulation, FinTech, News
OCC’s Hsu Sees Benefits to AI in Banking, But Warns of Potential Risks Michael Hsu, acting U.S. Comptroller of the Currency, recently highlighted the potential benefits and risks of using widespread artificial intelligence (AI) in banking during his remarks at...
Jun 20, 2023 | Federal Regulation, News
FDIC, Federal Reserve, and OCC Release Guidance for Banks Partnering with Third Parties The Federal Deposit Insurance Corp. (FDIC), Federal Reserve, and Office of the Comptroller of the Currency (OCC) have issued guidance regarding how financial institutions should...
Jun 15, 2023 | Congressional Legislation, Federal Regulation, News
CFPB Director Rohit Chopra Testifies Before House, Senate Committees Last week, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra testified at hearings before the House Financial Services Committee and Senate Banking Committee to present the CFPB’s...
Jun 13, 2023 | Financial Literacy, News
America’s Credit Card Debt Passes $1 Trillion Last month, America’s credit card balance was set to surpass $1 trillion with the average interest rate on a new credit card currently at 24 percent, which is the highest figure seen since the Reagan administration....
Jun 7, 2023 | Federal Regulation, News
CFPB Orders OneMain to Pay $20 Million in Penalties and Redress Last week, the Consumer Financial Protection Bureau (CFPB) ordered installment lender OneMain Financial to pay $20 million in penalties and redress due to a failure to refund interest that was charged to...
