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 8, 2023 | Financial Literacy
Important things to know about Certificates of Deposit Certificates of Deposit (CDs) are a type of financial account where a fixed amount of money is held for a fixed amount of time. The financial institution that issues your CD will pay you interest. Like any...
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...
Feb 3, 2023 | Federal Regulation, News
CFPB Releases Proposal Slashing Credit Card Late Fees The Consumer Financial Protection Bureau (CFPB) recently issued a proposed rule that it says will rein in excessive credit card late fees that cost Americans nearly $12 billion every year. The Bureau alleges that...
Feb 1, 2023 | Financial Literacy
Important things to know about Savings Accounts A savings account may sound relatively simple. But there is more to it than meets the eye. Savings accounts can be an excellent tool for investing in your future or simply for saving up for a specific purpose or...
