Survey: 72% of Consumers Manage Lending Accounts Online
Survey: 72% of Consumers Manage Lending Accounts Online A recent PYMNTS collaboration with Mastercard company Finicity, titled “Account Opening and Loan Servicing in the Digital Environment,” found that 61 percent of consumers have loan accounts with outstanding...
CFPB Announces Crackdown on Discrimination in Consumer Finance
CFPB Announces Crackdown on Discrimination in Consumer Finance The Consumer Financial Protection Bureau (CFPB) recently announced changes to its supervisory operations, expanding its authority to crack down on discrimination associated with all financial products....
Senate Banking Committee Advances Powell, Brainard, Jefferson, and Cook for Fed Board
Senate Banking Committee Advances Powell, Brainard, Jefferson, and Cook for Fed Board With Sarah Bloom Raskin withdrawing her nomination to serve as the Federal Reserve’s vice chair for supervision—the top Wall Street watchdog at the Federal Reserve—Republicans ended...
Biden Signs Executive Order on Digital Assets, Including Cryptocurrencies
Biden Signs Executive Order on Digital Assets, Including Cryptocurrencies Earlier this month, President Biden signed an Executive Order on digital assets including cryptocurrency, representing the first ever whole-of-government approach to address the benefits and...
98% of Afterpay Customers Repaid BNPL Loans in 2021
98% of Afterpay Customers Repaid BNPL Loans in 2021 Nearly all Afterpay users paid back their installments in 2021, Block CFO Amrita Ahuja told CNBC when questioned about the company’s acquisition of the “buy now, pay later” (BNPL) service. 98 percent of users repaid...
Raskin Withdraws Fed Nomination After Manchin Announces Opposition
Raskin Withdraws Fed Nomination After Manchin Announces Opposition Lisa Bloom Raskin, nominated by President Biden to serve on the Federal Reserve Board of Governors and as its Vice Chair of Supervision, has withdrawn her nomination after Senator Joe Manchin (D-W.V.)... Survey Finds Buy Now Pay Later Users More Likely to Overdraft
Survey Finds Buy Now Pay Later Users More Likely to Overdraft A recent analysis of Morning Consult data found substantial overlap between consumers who overdraft their accounts and those who use “buy now, pay later” (BNPL) products. In January, 15 percent of all... Federal Reserve Nominees in Limbo as Republicans Boycott Vote
Federal Reserve Nominees in Limbo as Republicans Boycott Vote Several of President Biden’s nominees to various agencies, including the Federal Reserve Board of Governors and Federal Housing Finance Agency, are being held up after Republicans on the Senate Banking... 