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...
Report Finds 61% of U.S. Consumers, Including 36% of Consumers Earning More than $250k Annually, Living Paycheck-to-Paycheck
Report Finds 61% of U.S. Consumers, Including 36% of Consumers Earning More than $250k Annually, Living Paycheck-to-Paycheck A report produced through a collaboration with PYMNTS and LendingClub and released earlier this month found that a growing number of consumers...
CFPB Opens Office of Competition and Innovation to Promote Competition in Financial Services
CFPB Opens Office of Competition and Innovation to Promote Competition in Financial Services The Consumer Financial Protection Bureau (CFPB) recently announced that it would be opening a new office “to help spur innovation in financial services by promoting...
House Subcommittee Investigating Credit Companies on Credit Report Errors During Pandemic
House Subcommittee Investigating Credit Companies on Credit Report Errors During Pandemic Democratic members of the House Select Subcommittee on the Coronavirus Crisis recently informed Equifax, Inc., Experian PLC, and TransUnion that they would be probing the...
Louisiana Governor Vetoes Installment Lending Bill
Louisiana Governor Vetoes Installment Lending Bill After passing Louisiana’s House of Representatives on May 10 and State Senate on May 16, Louisiana Governor John Bel Edwards has vetoed SB381, the Louisiana Credit Access Loan Act. The legislation would have allowed... CFPB Interpretive Rule Empowers State Enforcement
CFPB Interpretive Rule Empowers State Enforcement In May, the Consumer Financial Protection Bureau (CFPB) issued a new interpretive rule that empowers states’ consumer protection enforcement bodies to enforce the Consumer Financial Protection Act. The Bureau also said... Federal Reserve’s Latest Economic Well-Being of U.S. Households Report Finds Roughly 1/3 of Americans Could Not Cover $400 Emergency Expense Out of Pocket
Federal Reserve’s Latest Economic Well-Being of U.S. Households Report Finds Roughly 1/3 of Americans Could Not Cover $400 Emergency Expense Out of Pocket In its Economic Well-Being of U.S. Households in 2021 report, issued last week, the Federal Reserve found that...
