Jul 11, 2023 | Financial Literacy, News
Americans Paid 14% More for Financial Services in 2022, Spending Nearly $350 Billion on Interest and Fees A new report from the Financial Health Network found that Americans paid 14 percent more for financial services in 2022 due to increased interest rates on loans,...
Jul 5, 2023 | Banks & Credit Unions, News
ABA Economic Advisory Committee Forecasts Credit Conditions Softening Over Remainder of Year The Economic Advisory Committee of the American Bankers Association (ABA), which is made up of bank economists, predicts credit conditions to soften throughout the rest of the...
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...
