Nov 2, 2023 | Banks & Credit Unions, Federal Regulation, News
CFPB’s Biennial Credit Card Report Finds Consumers Paid More than $130 Billion in Interest and Fees in 2022 Recently, the Consumer Financial Protection Bureau (CFPB) released its biennial report on the consumer credit card market to Congress, which found that...
Oct 31, 2023 | FinTech, News
Average Retail Credit Card APR Reaches New Record High Bankrate’s annual Retail Cards Study found that the average APR for retail credit cards reached a record high of 28.93 percent this year, up from 26.72 percent in 2022 and 24.35 percent in 2021. The average...
Oct 26, 2023 | Federal Regulation, News
CFPB Proposes Personal Financial Data Rights Rule Last week, the Consumer Financial Protection Bureau (CFPB) proposed a Personal Financial Data Rights Rule, which it says will promote a shift toward open banking where consumers have more control over their financial...
Oct 23, 2023 | Financial Literacy, News
40 Percent of Millennials Use Installment Plans to Improve Credit Scores A recent PYMNTS Intelligence study found that 60 percent of U.S. consumers used installment plans to purchase products in the last year, many of whom do so with the goal of improving their credit...
Oct 19, 2023 | Financial Literacy, News
High Debt Consumers Average 14 Late Payments Per Year A recent collaboration from PYMNTS Intelligence and Sezzle titled “The Credit Accessibility Series: Economic Malaise Exacerbating U.S. Consumer Debt Levels” found that roughly one-third of consumers struggle to...
Oct 17, 2023 | Financial Literacy, News
Report Finds 60% of Consumers Across All Income Levels Living Paycheck-to-Paycheck A recent report from PYMNTS and LendingClub found that almost 60 percent of U.S. consumers across all income levels reported living paycheck-to-paycheck in August, a slight decrease...
