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...
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...
