CFPB Launches Rulemaking Process to Strengthen Personal Financial Data Rights
CFPB Launches Rulemaking Process to Strengthen Personal Financial Data Rights The Consumer Financial Protection Bureau (CFPB) recently launched a rulemaking process which it says is intended to help strengthen consumers’ control over and access to their financial...
U.S. Personal Savings Rates Drop to Lowest Point Since Great Recession
U.S. Personal Savings Rates Drop to Lowest Point Since Great Recession The U.S. personal saving rate, or what percentage of a consumer’s disposable income is left over after they pay taxes and spend money, reached its lowest level since the Great Depression when it...
OCC Announces Plans to Establish Office of Financial Technology
OCC Announces Plans to Establish Office of Financial Technology Last week, the Office of the Comptroller of the Currency (OCC) announced plans to create an Office of Financial Technology in 2023 to help the agency adapt to the changing banking landscape. The office... CFPB Response in TransUnion Case Lays Groundwork for Potential Appeal to Fifth Circuit Ruling
CFPB Response in TransUnion Case Lays Groundwork for Potential Appeal to Fifth Circuit Ruling Last month, the Fifth Circuit Court of Appeals issued a long-awaited ruling which found that the independent funding mechanism Congress established to insulate the Consumer...
NYDFS Superintendent Wants to Take Leading Role on Setting Nationwide Regulatory Agenda, Starting with Crypto
NYDFS Superintendent Wants to Take Leading Role on Setting Nationwide Regulatory Agenda, Starting with Crypto Adrienne Harris, who was confirmed in January to be superintendent of the New York State Department of Financial Services (NYDFS), recently said in an...
FDIC Releases 2021 National Survey of Unbanked and Underbanked Households Results, Finding that Number of Banked Households Rose to Nearly 96 Percent
FDIC Releases 2021 National Survey of Unbanked and Underbanked Households Results, Finding that Number of Banked Households Rose to Nearly 96 Percent Earlier this week, the Federal Deposit Insurance Corporation (FDIC) released the results of its 2021 National Survey...
CFPB Report Details Impacts of Overdraft Fees on Economically Insecure Older Adults
CFPB Report Details Impacts of Overdraft Fees on Economically Insecure Older Adults The Consumer Financial Protection Bureau recently released a report highlighting how overdraft fees affect economically insecure older adults. Most financial institutions charge an...
JPMorgan and Citigroup Say Strict Capital Requirements May Limit Lending Abilities
JPMorgan and Citigroup Say Strict Capital Requirements May Limit Lending Abilities Some of the biggest U.S. banks recently said that higher capital requirements that were bolstered after the 2008 financial crisis could hurt their lending abilities and amplify a... 