Jul 8, 2022 | Financial Literacy, News
Credit Reporting Companies Introduce First Phase of Changes to Medical Collection Debt on Credit Reports Earlier this month, Equifax, Experian, and TransUnion introduced the first phase of changes to medical debt that was announced earlier in the year. All medical...
Jul 6, 2022 | Financial Literacy, News
Survey: Majority of Americans Uncomfortable with Emergency Savings as Balances Decline A recent Bankrate report found that 34 percent of Americans have less emergency savings than they did one year ago, and only 24 percent have more. Consequently, 58 percent of...
Jul 5, 2022 | Banks & Credit Unions, News
CFPB Issues Report Exploring Impact of Credit Card Line Decreases Last week, the Consumer Financial Protection Bureau (CFPB) issued a new report looking into how credit card companies decreased credit availability during both the Great Recession and at the start of...
Jul 1, 2022 | Financial Literacy, News
Survey Finds 41% of Americans Now Need Side Gig Income for Living Expenses A Bankrate survey released last week found that 41 percent of American adults who have side jobs need it to cover their living expenses instead of putting it into a savings account or using it...
Jun 29, 2022 | Banks & Credit Unions, Congressional Legislation, News
House Financial Services Committee Pulls Bill Limiting Overdraft Practices Two sources have told American Banker that the House Financial Services Committee (HFSC) recently set aside the Overdraft Protection Act, a bill introduced by Representative Carolyn Maloney...
Jun 27, 2022 | Federal Regulation, News
Biden Names Mohegan Chief Marilynn Malerba U.S. Treasurer, Marking First Native American To Hold Position Last Tuesday, U.S. President Joe Biden announced his intent to appoint Marilynn Malerba, Chief of the Mohegan Tribe, to be Treasurer of the United States. Chief...
Jun 24, 2022 | Banks & Credit Unions, Federal Regulation, News
FDIC to Again Include “Underbanked” Households in Biannual Banking Survey After the Federal Deposit Insurance Corporation (FDIC) changed their biannual national survey on consumers’ banking habits in 2019 under former chair Jelena McWilliams, eliminating...
Jun 22, 2022 | FinTech, News
PayPal Expands Pay Later Options With New ‘Pay Monthly’ Service Last week, PayPal introduced a new buy now, pay later (BNPL) product, called “PayPal Pay Monthly,” to give customers another flexible payment option for major purchases. Customers can use the program to...
Jun 20, 2022 | Federal Regulation, News
CFPB Deputy Director Tells Consumer Group Meeting Bank-Fintech Partnerships May Be Scrutinized In keynote remarks before the Consumer Federation of America’s 2022 Consumer Assembly last week, Consumer Financial Protection Bureau (CFPB) Deputy Director Zixta Martinez...
Jun 17, 2022 | Financial Literacy, News
CFPB Releases Office of Servicemember Affairs Annual Report On Monday, the Consumer Financial Protection Bureau (CFPB) released its annual report detailing the top financial concerns from servicemembers, veterans, and military families. Since 2011, these groups have...
