White House Pushes States to Join Crackdown on “Junk Fees”
White House Pushes States to Join Crackdown on “Junk Fees” White House officials and Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra recently urged states to join their effort to crack down on “junk fees” that the officials say are...
CFPB Issues Report on Financial Profiles of Buy Now Pay Later Customers
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...
Nearly Half of U.S. Adults Have Less or No Savings Compared to One Year Ago
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...
McHenry Introduces Data Privacy Legislation
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...
Supreme Court Opts to Hear CFPB Funding Case
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... CFPB Accuses Big Credit Card Companies of Hurting Consumer Credit Scores by Failing to Report Payments
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...
NY Fed: U.S. Credit Card Balances Reach Nearly $1 Trillion
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... Morning Consult Survey: Most Adults with Financial Goals Confident They Will Make Progress This Year, While Many Struggle to Make Ends Meet
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...
