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... CFPB Estimates $88 Billion in Medical Bills on Credit Reports
CFPB Estimates $88 Billion in Medical Bills on Credit Reports Last week, the Consumer Financial Protection Bureau (CFPB) released a report estimating that 43 million people had medical bills on their credit reports, with the total outstanding amount at $88 billion....
Citi Announces Plans to Discontinue Overdraft Fees
Citi Announces Plans to Discontinue Overdraft Fees Citigroup recently became the latest bank to announce plans to eliminate overdraft fees, overdraft protection fees, and returned item fees by this summer, making it the only top five U.S. bank in assets to entirely...
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...
