Senate Banking Republicans Say Fed Withheld Documents They Requested During Sarah Bloom Raskin Vetting for Fed Vice Chair of Supervision
Senate Banking Republicans Say Fed Withheld Documents They Requested During Sarah Bloom Raskin Vetting for Fed Vice Chair of Supervision Last week, Republicans on the Senate Banking Committee, including Ranking Member Pat Toomey (R-Pa.), sent a letter to Federal...
BNPL Providers Building Rewards Programs to Compete
BNPL Providers Building Rewards Programs to Compete Recently, with several buy now/pay later (BNPL) fintechs’ valuations having collapsed and a proposed merger falling through, many BNPL providers are launching rewards programs. Although the dollar value of rewards...
Equifax Sent Lenders Inaccurate Credit Scores on Millions of Consumers
Equifax Sent Lenders Inaccurate Credit Scores on Millions of Consumers For three weeks earlier this year, Equifax Inc. sent inaccurate consumer credit scores to lenders resulting in denied applications and higher interest rates for millions of borrowers. Blaming the...
Senate Indian Affairs Chairman Praises Senate-Passed Inflation Reduction Act’s Funding for Native Communities
Senate Indian Affairs Chairman Praises Senate-Passed Inflation Reduction Act’s Funding for Native Communities Yesterday, the U.S. Senate passed its Inflation Reduction Act, legislation the Democratic majority put forward to combat climate change, lower health care...
Credit Card Debt For Gen Z Consumers Increasing Almost Three Times As Fast As Other Generations
Credit Card Debt For Gen Z Consumers Increasing Almost Three Times As Fast As Other Generations Recent data released by credit score company VantageScore found that consumers aged 25 and under (Generation Z) saw their credit card balances increase by 30 percent in the...
Senate Democrats Reintroduce Fair Access to Financial Services Act
Senate Democrats Reintroduce Fair Access to Financial Services Act Last week, a group of Democratic Senators led by Banking Committee Chairman Sherrod Brown (D-Ohio) reintroduced the Fair Access to Financial Services Act, legislation that prohibits banks from...
House Republicans: CFPB May Be Colluding with States
House Republicans: CFPB May Be Colluding with States In a letter sent to Consumer Financial Protection Bureau Director Rohit Chopra last week, three Republicans who sit on the House Financial Services Committee allege that the CFPB’s director may be colluding with...
Consumer Confidence Slips for Third Straight Month
Consumer Confidence Slips for Third Straight Month The Conference Board’s consumer confidence index, a survey that tracks consumer buying intentions and attitudes, found that consumer confidence fell for the third month in a row, dropping from 98.4 percent in June to... 