Big Banks Predicting Recession This Year
Big Banks Predicting Recession This Year More than two-thirds of economists at 23 big financial institutions that do business with the Federal Reserve are predicting that the U.S. will have a recession in 2023, and two others predict a recession in 2024. The...
CFPB Exploring New Rules for Credit Reporting Companies
CFPB Exploring New Rules for Credit Reporting Companies The Consumer Financial Protection Bureau (CFPB) recently released an annual report on deficiencies in how credit reporting companies respond to consumer complaints. The report includes considerations for how the...
Survey: Nearly 2 in 3 Americans Do Not Expect Personal Finances to Improve in 2023
Survey: Nearly 2 in 3 Americans Do Not Expect Personal Finances to Improve in 2023 A new Bankrate report found that only 34 percent of Americans expect their personal financial state to improve in 2023, leaving nearly two-thirds who do not expect their finances to...
Republican Senators Introduce Legislation to Reform Fed
Republican Senators Introduce Legislation to Reform Fed Last month, as one of his last acts before leaving the Senate this week, Committee on Banking, Housing, and Urban Affairs Ranking Member Sen. Pat Toomey (R-Pa.) introduced the Federal Reserve Accountability Act,...
Survey: Most Americans Think Crypto and Fintech Companies Aren’t Held to Same Regulatory Standards as Banks
Survey: Most Americans Think Crypto and Fintech Companies Aren’t Held to Same Regulatory Standards as Banks A recent Consumer Bankers Association (CBA) survey found that nearly 90 percent of Americans are concerned that crypto and fintech companies are not held...
Sources Say Walmart Plans to Offer BNPL Loans Through Its Fintech Venture
Sources Say Walmart Plans to Offer BNPL Loans Through Its Fintech Venture Walmart is planning to launch buy now, pay later (BNPL) loans through its majority-owned fintech venture as early as next year, according to three people familiar with the matter. The service... Toomey Proposes Legislation to Change CFPB’s Leadership Structure to Bipartisan Board
Toomey Proposes Legislation to Change CFPB’s Leadership Structure to Bipartisan Board Just a few weeks before he is set to leave office, Senator Pat Toomey (R-Pa.), ranking member of the Senate Banking Committee, alongside Senator Bill Hagerty (R-Tenn.), introduced...
Senate Confirms Gruenberg, FDIC Nominees
Senate Confirms Gruenberg, FDIC Nominees On Monday, the U.S. Senate confirmed Martin Gruenberg to be chairman of the Federal Deposit Insurance Corporation (FDIC), Travis Hill as vice chair, and Jonathan McKernan to the remaining seat. Gruenberg, who has served as...
