CFPB Releases 2021 Annual Report; Credit Reporting Receives the Most Complaints While Personal Loans Near Bottom of List
CFPB Releases 2021 Annual Report; Credit Reporting Receives the Most Complaints While Personal Loans Near Bottom of List Last week, the Consumer Financial Protection Bureau (CFPB) released its 2021 Consumer Response Annual Report which analyzes complaints submitted by...
Credit Reporting Firms Announce Removal of Most Medical Debt from Credit Reports
Credit Reporting Firms Announce Removal of Most Medical Debt from Credit Reports The largest credit reporting firms, Experian, Equifax, and TransUnion, recently announced they would erase billions of dollars of medical debt from consumers’ credit reports, which...
Democratic Senators Push Banks to Lower or Eliminate Overdraft Fees as House Financial Services Committee Holds Hearing on Them
Democratic Senators Push Banks to Lower or Eliminate Overdraft Fees as House Financial Services Committee Holds Hearing on Them Last week, Senators Raphael Warnock (D-Ga.), chair of the Banking Subcommittee on Financial Institutions and Consumer Protection, and...
CFPB’s Making Ends Meet Survey Finds 24% of Consumers Have No Savings Set Aside for Emergencies and 39% Have Less than a Month of Income Saved
CFPB’s Making Ends Meet Survey Finds 24% of Consumers Have No Savings Set Aside for Emergencies and 39% Have Less than a Month of Income Saved Last week, the Consumer Financial Protection Bureau (CFPB) released insights from its Making Ends Meet Survey and...
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...
