Mar 8, 2023 | Federal Regulation, FinTech, News
CFPB Issues Report on Financial Profiles of Buy Now Pay Later Customers The Consumer Financial Protection Bureau (CFPB) recently published a report analyzing the financial profiles of buy now, pay later (BNPL) customers, finding that BNPL consumers were more likely to...
Mar 6, 2023 | Financial Literacy, News
Nearly Half of U.S. Adults Have Less or No Savings Compared to One Year Ago A recent Bankrate report found that 49 percent of U.S. adults have either less or no emergency savings compared to a year ago, including 39 percent who have less savings than last year, and 10...
Mar 3, 2023 | Congressional Legislation, News
McHenry Introduces Data Privacy Legislation Last week, Rep. Patrick McHenry (R-N.C.), Chairman of the House Financial Services Committee (HFSC), introduced the Data Privacy Act of 2023, which is meant to modernize financial data privacy laws by requiring financial...
Mar 1, 2023 | Federal Regulation, Litigation, News
Supreme Court Opts to Hear CFPB Funding Case On Monday, the Supreme Court of the United States announced its long-awaited decision to hear a landmark case in its next term, Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of...
Mar 1, 2023 | Financial Literacy
Important things to know about Taxes Nothing is certain except death and taxes. And for many Americans, Tax Day, which this year falls on Tuesday, April 18, 2023, can often creep up on us. Taxes, specifically the preparation and filing, can be stressful and sometimes...
Feb 27, 2023 | Federal Regulation, News
CFPB Accuses Big Credit Card Companies of Hurting Consumer Credit Scores by Failing to Report Payments The Consumer Financial Protection Bureau (CFPB) has accused the six largest credit card companies in the U.S. of hurting their customers’ credit scores by failing to...
Feb 24, 2023 | Banks & Credit Unions, News
NY Fed: U.S. Credit Card Balances Reach Nearly $1 Trillion The New York Fed’s Household Debt and Credit Report found that credit card balances rose to a record high of $986 billion in the fourth quarter of 2022 amid high prices and consistent consumer spending. Total...
Feb 22, 2023 | Financial Literacy
Important things to know about Maximizing Retirement Savings As life expectancy continues to go up, the question of when to retire becomes less about hitting the “retirement age” and more about how much savings is needed once you stop working. And for many...
Feb 22, 2023 | Financial Literacy, News
Morning Consult Survey: Most Adults with Financial Goals Confident They Will Make Progress This Year, While Many Struggle to Make Ends Meet A recent Morning Consult survey found that 75 percent of Americans with 2023 financial goals are confident they will make...
Feb 20, 2023 | Federal Regulation, News
Biden Taps Fed’s Brainard for National Economic Council Director Last week, President Biden named Federal Reserve Vice Chair Lael Brainard as his top economic advisor, replacing outgoing NEC Director Brian Deese. Brainard will work alongside Treasury Secretary Janet...
