CFPB to Rewrite Open Banking Rule
CFPB to Rewrite Open Banking Rule In a recent court filing, the Consumer Financial Protection Bureau (CFPB) revealed that it plans to rework a U.S. open banking rule aimed at establishing industry-wide standards for data sharing between banks, fintechs, and consumers....
4 in 10 Consumers Would Not Make Purchase if BNPL Were Not Available
4 in 10 Consumers Would Not Make Purchase if BNPL Were Not Available A recent PYMNTS Intelligence report, “Decoding BNPL Users: Necessity, Convenience and Risk Signals” examines consumer behavior and preferences regarding buy now, pay later (BNPL), which has become...
46% of Americans Carry Credit Card Balance and 23% Don’t Think They Will Ever Pay it Off
46% of Americans Carry Credit Card Balance and 23% Don’t Think They Will Ever Pay it Off A recent Bankrate survey found that 46 percent of Americans carry a credit card balance month to month, and 23 percent believe they will never get out of credit card debt. A...
Trump Signs First Major Cryptocurrency Bill Into Law
Trump Signs First Major Cryptocurrency Bill Into Law Last week, President Trump signed the GENIUS Act, making it the first major cryptocurrency bill to become law. The legislation establishes a regulatory framework for stablecoins, which are dollar-backed digital...
Senate Confirms Jonathan Gould as Comptroller of the Currency
Senate Confirms Jonathan Gould as Comptroller of the Currency Last week, the U.S. Senate confirmed Jonathan Gould to serve as Comptroller of the Currency by a vote of 50-45. Gould served as chief counsel and senior deputy comptroller of the Office of the Comptroller...
Credit Cards, Credit Reporting Disputes Lead FDIC Consumer Complaints
Credit Cards, Credit Reporting Disputes Lead FDIC Consumer Complaints According to the FDIC’s Consumer Compliance Supervisory Highlights, the agency processed a surge in consumer complaints last year led by credit cards as the most frequently cited product and credit...
Congress Passes and President Signs Bill Slashing CFPB Budget
Congress Passes and President Signs Bill Slashing CFPB Budget Last week, Congress passed and President Trump signed the “Big, Beautiful Bill,” the tax and budget package that the legislative branch has been debating for months. One provision of the bill cuts funding...
Alaska Governor Vetoes Rate Cap Bill
Alaska Governor Vetoes Rate Cap Bill Alaska Governor Mike Dunleavy has vetoed a bill that would have capped interest rates for consumer loans up to $25,000 at 36 percent, which opponents of the legislation say would have drastically limited credit access in the state....
