Spending and Saving Both on the Rise, According to Bank of America CEO
Spending and Saving Both on the Rise, According to Bank of America CEO Brian Moynihan, Bank of America CEO, recently revealed that American consumers are both spending more money and saving more money, noting that spending on the bank’s cards has increased as much as...
Biden Nominates Ketanji Brown Jackson to Replace Breyer on U.S. Supreme Court
Biden Nominates Ketanji Brown Jackson to Replace Breyer on U.S. Supreme Court Last week, President Biden nominated Ketanji Brown Jackson to the Supreme Court to fill the seat of Justice Stephen Breyer, who announced his intended retirement on January 27. Jackson...
Survey Finds 70% of Millennials and Bridge Millennials Living Paycheck to Paycheck
Survey Finds 70% of Millennials and Bridge Millennials Living Paycheck to Paycheck A recent survey by PYMNTS and LendingClub found that while a portion of all generations are currently living paycheck to paycheck, the share of consumers who live that way is highest in...
New Mexico Legislature Passes 36% APR Cap Bill
New Mexico Legislature Passes 36% APR Cap Bill Last week, lawmakers in the New Mexico state legislature passed a bill reducing the state’s maximum allowable annual interest rates from 175 percent to 36 percent, ending a years-long debate between the state House and...
CFPB Launches New Way for Public to Directly Submit Rulemaking Petitions
CFPB Launches New Way for Public to Directly Submit Rulemaking Petitions Last week, the Consumer Financial Protection Bureau (CFPB) launched a new process that will allow the public to submit petitions for rulemaking directly to the agency, with submitted petitions... Slight Majority of Americans Have More Emergency Savings Than Credit Card Debt
Slight Majority of Americans Have More Emergency Savings Than Credit Card Debt A recent Bankrate survey found that just 53 percent of Americans have more emergency savings than credit card debt, a number which is slightly down from 54 percent last year but still a...
District Court Upholds OCC’s Valid When Made Rule
District Court Upholds OCC’s Valid When Made Rule Earlier this month, the U.S. District Court for the Northern District of California ruled against a challenge to the OCC’s “valid when made” rule that was brought by California, Illinois, and New York after the rule...
Experian Announces Plans to Launch Buy Now Pay Later Bureau
Experian Announces Plans to Launch Buy Now Pay Later Bureau Experian recently announced plans to launch ‘The Buy Now Pay Later Bureau,’ a specialty bureau created to promote responsible and inclusive lending, which the company says it hopes will bring more...
