Aug 9, 2023 | Financial Literacy, News
54 Million Adults Have Had Credit Card Balances For More Than a Year A new Bankrate report found that 60 percent of U.S. adults who carry a balance on their credit card, or 54 million people, have carried a balance for at least a year—a rate that is unchanged from...
Aug 2, 2023 | Financial Literacy, News
52% of Gen Z Borrow Money to Make Ends Meet A recent collaboration between PYMNTS and LendingClub, entitled “New Reality Check: The Paycheck-to-Paycheck Report — The Household Finances Deep Dive Edition,” found that members of Gen Z are the most likely to have...
Jul 26, 2023 | Federal Regulation, Litigation, News
Supreme Court Schedules Arguments in CFPB Constitutionality Case for October The Supreme Court recently announced its October argument calendar—the first month of the court’s next annual term—which includes the case involving the constitutionality of the Consumer...
Jul 20, 2023 | Financial Literacy, News
Consumer Borrowing Slows to More than Two-Year Low Recent Federal Reserve data showed that in May, U.S. consumer borrowing slowed to a more than two-year low, which is the first decline in non-revolving credit since the beginning of the pandemic. Total credit rose...
Jul 18, 2023 | Banks & Credit Unions, News
Wells Fargo Promotes Head of Native American Banking to Managing Director Earlier this month, Wells Fargo promoted Dawson Her Many Horses, a member of the Rosebud Sioux Tribe of South Dakota, to managing director, making him one of the first enrolled tribal members to...
Jul 13, 2023 | Financial Literacy, News
Experian Research Finds Having Established Credit History Helps Young Consumers Feel Financially Independent Recent Experian research found that 54 percent of millennials and Gen Zers consider themselves at least somewhat financially reliant on their parents, with 23...
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...
