Feb 28, 2022 | Financial Literacy, News
Survey Finds 70% of Millennials and Bridge Millennials Living Paycheck to Paycheck A recent survey by PYMNTS and LendingClub found that while a portion of all generations are currently living paycheck to paycheck, the share of consumers who live that way is highest in...
Feb 25, 2022 | FinTech, News
New Mexico Legislature Passes 36% APR Cap Bill Last week, lawmakers in the New Mexico state legislature passed a bill reducing the state’s maximum allowable annual interest rates from 175 percent to 36 percent, ending a years-long debate between the state House and...
Feb 23, 2022 | Federal Regulation, News
CFPB Launches New Way for Public to Directly Submit Rulemaking Petitions Last week, the Consumer Financial Protection Bureau (CFPB) launched a new process that will allow the public to submit petitions for rulemaking directly to the agency, with submitted petitions...
Feb 21, 2022 | Financial Literacy, News
Slight Majority of Americans Have More Emergency Savings Than Credit Card Debt A recent Bankrate survey found that just 53 percent of Americans have more emergency savings than credit card debt, a number which is slightly down from 54 percent last year but still a...
Feb 18, 2022 | Federal Regulation, News
District Court Upholds OCC’s Valid When Made Rule Earlier this month, the U.S. District Court for the Northern District of California ruled against a challenge to the OCC’s “valid when made” rule that was brought by California, Illinois, and New York after the rule...
Feb 16, 2022 | Financial Literacy, FinTech, News
Experian Announces Plans to Launch Buy Now Pay Later Bureau Experian recently announced plans to launch ‘The Buy Now Pay Later Bureau,’ a specialty bureau created to promote responsible and inclusive lending, which the company says it hopes will bring more...
Feb 14, 2022 | Federal Regulation, News
Gruenberg Becomes Acting FDIC Chairman, Outlines Priorities Earlier this month, Martin Gruenberg, a longtime board member of the Federal Deposit Insurance Corp. (FDIC), became the acting chair of the agency after Jelena McWilliams’ resignation. Upon assuming the...
Feb 11, 2022 | Banks & Credit Unions, News
More Americans Than Ever Hold Credit Cards at the End of 2021 TransUnion’s recent Q4 2021 Quarterly Credit Industry Insights Report (CIIR) report found that a record 196 million Americans held credit cards at the end of 2021, with a growing number of cards being...
Feb 9, 2022 | Banks & Credit Unions, News
Banks Closed Nearly 3,000 Branches in 2021, Jumping 38% from 2020 The trend of banks closing branches at a rapid pace continued last year with a recent S&P Global Market Intelligence report finding that banks across the U.S. closed 2,927 branches in 2021, up 38...
Feb 7, 2022 | Financial Literacy, News
Experian Launches Program to Help “Credit Invisibles” Begin Building Credit Last month, Experian launched Experian Go, a free program to help “credit invisibles”—or consumers with no credit history—start to build credit profiles. Nearly 50 million consumers have a...
