Mar 23, 2022 | Federal Regulation, News
Senate Banking Committee Advances Powell, Brainard, Jefferson, and Cook for Fed Board With Sarah Bloom Raskin withdrawing her nomination to serve as the Federal Reserve’s vice chair for supervision—the top Wall Street watchdog at the Federal Reserve—Republicans ended...
Mar 21, 2022 | Federal Regulation, FinTech, News
Biden Signs Executive Order on Digital Assets, Including Cryptocurrencies Earlier this month, President Biden signed an Executive Order on digital assets including cryptocurrency, representing the first ever whole-of-government approach to address the benefits and...
Mar 18, 2022 | FinTech, News
98% of Afterpay Customers Repaid BNPL Loans in 2021 Nearly all Afterpay users paid back their installments in 2021, Block CFO Amrita Ahuja told CNBC when questioned about the company’s acquisition of the “buy now, pay later” (BNPL) service. 98 percent of users repaid...
Mar 16, 2022 | Federal Regulation, News
Raskin Withdraws Fed Nomination After Manchin Announces Opposition Lisa Bloom Raskin, nominated by President Biden to serve on the Federal Reserve Board of Governors and as its Vice Chair of Supervision, has withdrawn her nomination after Senator Joe Manchin (D-W.V.)...
Mar 14, 2022 | Financial Literacy, FinTech, News
Survey Finds Buy Now Pay Later Users More Likely to Overdraft A recent analysis of Morning Consult data found substantial overlap between consumers who overdraft their accounts and those who use “buy now, pay later” (BNPL) products. In January, 15 percent of all...
Mar 11, 2022 | Federal Regulation, News
Federal Reserve Nominees in Limbo as Republicans Boycott Vote Several of President Biden’s nominees to various agencies, including the Federal Reserve Board of Governors and Federal Housing Finance Agency, are being held up after Republicans on the Senate Banking...
Mar 9, 2022 | Federal Regulation, Financial Literacy, News
CFPB Estimates $88 Billion in Medical Bills on Credit Reports Last week, the Consumer Financial Protection Bureau (CFPB) released a report estimating that 43 million people had medical bills on their credit reports, with the total outstanding amount at $88 billion....
Mar 7, 2022 | Banks & Credit Unions, News
Citi Announces Plans to Discontinue Overdraft Fees Citigroup recently became the latest bank to announce plans to eliminate overdraft fees, overdraft protection fees, and returned item fees by this summer, making it the only top five U.S. bank in assets to entirely...
Mar 4, 2022 | Financial Literacy, News
Spending and Saving Both on the Rise, According to Bank of America CEO Brian Moynihan, Bank of America CEO, recently revealed that American consumers are both spending more money and saving more money, noting that spending on the bank’s cards has increased as much as...
