Aug 31, 2022 | Financial Literacy, News
Bottom 50% of Americans Building Wealth Despite Inflation Recent economic data filtered through the Realtime Inequality tracker revealed that the bottom 50 percent of U.S. households, mostly those who had a net worth of $166,000 or less before the pandemic, are in...
Aug 29, 2022 | NAFSA News, Press Release, Tribal Sovereignty
Native American Financial Services Association Celebrates Ten Years of Advocating for Tribal Sovereignty Over ten years ago, Native American tribes met to officially launch the Native American Financial Services Association (NAFSA), a 501(c)(6) trade association...
Aug 29, 2022 | Financial Literacy, News
Bankrate Survey Finds Nearly 7 in 10 Americans Worried About Possible Recession and Taking Steps to Prepare A recent Bankrate.com survey found that nearly 7 in 10 U.S. adults admit they are worried about a possible recession by the end of next year. 29 percent of...
Aug 26, 2022 | Federal Regulation, News
FDIC Says Banks Charging Multiple NSF Fees on Same Transaction Could Violate Law The Federal Deposit Insurance Corp. (FDIC) recently warned banks it supervises that it will consider enforcement action if they charge multiple nonsufficient-fund (NSF) fees on the same...
Aug 24, 2022 | Federal Regulation, News
CFPB Issues Interpretive Rule Saying Big Tech Digital Marketers Can be Held Liable for Unfair and Deceptive Practices Earlier this month, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule warning that digital marketing providers must comply...
Aug 22, 2022 | Financial Literacy, News
N.Y. Fed Finds that Student Loan Freeze Led to Improvements in 30 Million Consumers’ Credit Scores Economists at the Federal Reserve Bank of New York said that the freeze on student loan payments from the pandemic drastically improved credit scores of Americans...
Aug 19, 2022 | FinTech, News
BNPL Lenders Want In On Credit Reports With Buy Now, Pay Later (BNPL) products continuing to gain in popularity as a payment method for consumers, some in the BNPL industry are now exploring ways to report data about consumers’ repayment of BNPL loans to credit...
Aug 17, 2022 | Federal Regulation, News
CFPB to Crack Down on Financial Firms’ Protection of Consumer Data Last week, the Consumer Financial Protection Bureau (CFPB) published a circular outlining the responsibilities financial firms have to protect consumer data, noting that failure to do so could...
Aug 15, 2022 | Congressional Legislation, Federal Regulation, News
Senate Banking Republicans Say Fed Withheld Documents They Requested During Sarah Bloom Raskin Vetting for Fed Vice Chair of Supervision Last week, Republicans on the Senate Banking Committee, including Ranking Member Pat Toomey (R-Pa.), sent a letter to Federal...
Aug 12, 2022 | FinTech, News
BNPL Providers Building Rewards Programs to Compete Recently, with several buy now/pay later (BNPL) fintechs’ valuations having collapsed and a proposed merger falling through, many BNPL providers are launching rewards programs. Although the dollar value of rewards...
