Feb 11, 2022 | Banks & Credit Unions, News
More Americans Than Ever Hold Credit Cards at the End of 2021 TransUnion’s recent Q4 2021 Quarterly Credit Industry Insights Report (CIIR) report found that a record 196 million Americans held credit cards at the end of 2021, with a growing number of cards being...
Feb 9, 2022 | Banks & Credit Unions, News
Banks Closed Nearly 3,000 Branches in 2021, Jumping 38% from 2020 The trend of banks closing branches at a rapid pace continued last year with a recent S&P Global Market Intelligence report finding that banks across the U.S. closed 2,927 branches in 2021, up 38...
Feb 7, 2022 | Financial Literacy, News
Experian Launches Program to Help “Credit Invisibles” Begin Building Credit Last month, Experian launched Experian Go, a free program to help “credit invisibles”—or consumers with no credit history—start to build credit profiles. Nearly 50 million consumers have a...
Feb 4, 2022 | Financial Literacy, News
Only 44 % Of Americans Could Cover Unplanned $1,000 Expense From Savings, Survey Finds A recent Bankrate survey found that just 44 percent of Americans could cover an unexpected $1,000 expense from savings, like a car repair or emergency room bill. This is the highest...
Feb 2, 2022 | Federal Regulation, News
CFPB Scrutinizing Credit Card Industry Interest and Fees The Consumer Financial Protection Bureau (CFPB) last month took aim at credit card issuers and announced that it was looking at whether credit card companies are participating in unfair or anti-competitive...
Jan 31, 2022 | Banks & Credit Unions, Financial Literacy, News
18% of Consumers Reported Overdrafting Account in December, Rising from 14% in August Recent polling data from Morning Consult found that nearly one in five consumers with a credit union or bank account—18 percent—reported overdrafting the account in December, up from...