Republican Ranking Members on House Oversight and Financial Services Committees Press CFPB Director to Justify His Authority
Republican Ranking Members on House Oversight and Financial Services Committees Press CFPB Director to Justify His Authority In a letter sent last week by Reps. Patrick McHenry (R-N.C.) and James Comer (R-Ky.) to CFPB Director Rohit Chopra, the pair of Republican...
Morning Consult Study Finds 3/5 of Student Loan Borrowers Won’t Be Able to Afford Repayments When Moratorium Ends in January
Morning Consult Study Finds 3/5 of Student Loan Borrowers Won’t Be Able to Afford Repayments When Moratorium Ends in January A recent Morning Consult survey found that with the federal student loan payment moratorium ending next year, a majority of borrowers do...
CFPB Aims to Bring Credit Card Protections to Buy Now Pay Later
CFPB Aims to Bring Credit Card Protections to Buy Now Pay Later The Consumer Financial Protection Bureau (CFPB) is considering ways to regulate “buy now, pay later” (BNPL) companies, which have surged in popularity since the pandemic, with the Bureau saying that it...
Senate Banking Committee Holds Hearing on New Consumer Financial Products
Senate Banking Committee Holds Hearing on New Consumer Financial Products Last week, the Senate Committee on Banking, Housing, and Urban Affairs convened a hearing to examine “New Consumer Financial Products and the Impacts to Workers.” It proved to be another hearing...
Credit Card Interest Rates Hit 26-Year High
Credit Card Interest Rates Hit 26-Year High Last week, the average interest on variable-rate credit cards reached 18.03 percent, the highest rate seen since January 1996, according to recent Bankrate data. Since June 25, rates charged to cardholders have increased by... Majority of Americans Say Inflation is Causing Financial Hardship
Majority of Americans Say Inflation is Causing Financial Hardship A recent Gallup poll found that a majority of Americans are facing moderate or severe financial hardship due to inflation-driven price increases. 56 percent of respondents said they are experiencing...
OCC Head Indicates Scrutiny of Bank-Fintech Relationships May Be on the Horizon
OCC Head Indicates Scrutiny of Bank-Fintech Relationships May Be on the Horizon Speaking before a conference of bankers in New York hosted by the Bank Policy Institute and the Clearing House Association last week, Acting Comptroller of the Currency Michael Hsu said... CFPB Issues Report Detailing Family Finances and Debt in Rural Appalachia
CFPB Issues Report Detailing Family Finances and Debt in Rural Appalachia Last week, the Consumer Financial Protection Bureau (CFPB) issued the first in a series of reports about the finances of consumers in rural areas, with this first report focusing on consumers in...
