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...
Jun 2, 2023 | Financial Literacy, News
Latest Federal Reserve Economic Well-Being Report Finds Self-Reported Financial Well-Being Declined in 2022 Last month, the Federal Reserve issued its “Economic Well-Being of U.S. Households in 2022” report, which shows that higher prices have negatively impacted the...
May 31, 2023 | Banks & Credit Unions, Federal Regulation, News
CFPB Report Finds Overdraft and NSF Fee Revenue Dropped by Nearly 50% in Q4 2022 The Consumer Financial Protection Bureau (CFPB) recently released a report highlighting overdraft and non-sufficient funds (NSF) fee revenue, finding that revenue for the fourth quarter...
May 29, 2023 | Financial Literacy, News
Nearly 40% of Americans Facing Difficulties Making Ends Meet, Census Finds The Census Bureau’s most recent Household Pulse Survey showed that 38.5 percent of American adults, or 89.1 million people, faced hardship in paying their typical home expenses between April 26...
