House Financial Services Committee Pulls Bill Limiting Overdraft Practices
House Financial Services Committee Pulls Bill Limiting Overdraft Practices Two sources have told American Banker that the House Financial Services Committee (HFSC) recently set aside the Overdraft Protection Act, a bill introduced by Representative Carolyn Maloney...
Biden Names Mohegan Chief Marilynn Malerba U.S. Treasurer, Marking First Native American To Hold Position
Biden Names Mohegan Chief Marilynn Malerba U.S. Treasurer, Marking First Native American To Hold Position Last Tuesday, U.S. President Joe Biden announced his intent to appoint Marilynn Malerba, Chief of the Mohegan Tribe, to be Treasurer of the United States. Chief...
FDIC to Again Include “Underbanked” Households in Biannual Banking Survey
FDIC to Again Include “Underbanked” Households in Biannual Banking Survey After the Federal Deposit Insurance Corporation (FDIC) changed their biannual national survey on consumers’ banking habits in 2019 under former chair Jelena McWilliams, eliminating...
PayPal Expands Pay Later Options With New ‘Pay Monthly’ Service
PayPal Expands Pay Later Options With New ‘Pay Monthly’ Service Last week, PayPal introduced a new buy now, pay later (BNPL) product, called “PayPal Pay Monthly,” to give customers another flexible payment option for major purchases. Customers can use the program to...
CFPB Deputy Director Tells Consumer Group Meeting Bank-Fintech Partnerships May Be Scrutinized
CFPB Deputy Director Tells Consumer Group Meeting Bank-Fintech Partnerships May Be Scrutinized In keynote remarks before the Consumer Federation of America’s 2022 Consumer Assembly last week, Consumer Financial Protection Bureau (CFPB) Deputy Director Zixta Martinez...
CFPB Releases Office of Servicemember Affairs Annual Report
CFPB Releases Office of Servicemember Affairs Annual Report On Monday, the Consumer Financial Protection Bureau (CFPB) released its annual report detailing the top financial concerns from servicemembers, veterans, and military families. Since 2011, these groups have...
Bank Economists See Weakening Credit Conditions
Bank Economists See Weakening Credit Conditions According to the American Bankers Association’s Credit Conditions Index for Q3 2022, released last week, bank economists expect credit market conditions to deteriorate over the second six months of 2022. The Credit...
Rate Cap Campaign Announces Enough Signatures to Put Initiative on Michigan Ballot
Rate Cap Campaign Announces Enough Signatures to Put Initiative on Michigan Ballot Earlier this month, a campaign dedicated to capping annual interest rates on loans at 36 percent in the state of Michigan announced it had collected more than 575,000 signatures and...
