Jul 1, 2022 | Financial Literacy, News
Survey Finds 41% of Americans Now Need Side Gig Income for Living Expenses A Bankrate survey released last week found that 41 percent of American adults who have side jobs need it to cover their living expenses instead of putting it into a savings account or using it...
Jun 29, 2022 | Banks & Credit Unions, Congressional Legislation, News
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...
Jun 27, 2022 | Federal Regulation, News
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...
Jun 24, 2022 | Banks & Credit Unions, Federal Regulation, News
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...
Jun 22, 2022 | FinTech, News
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...
Jun 20, 2022 | Federal Regulation, News
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...
Jun 17, 2022 | Financial Literacy, News
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...
Jun 15, 2022 | Banks & Credit Unions, News
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...
Jun 13, 2022 | Congressional Legislation, News
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...
Jun 10, 2022 | Financial Literacy, News
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...
