Jun 16, 2021 | Congressional Legislation, News
Stimulus Checks Helped Americans Pay Bills, Reduce Economic Anxiety, Analysis Shows A new analysis of Census Bureau data revealed that government stimulus checks sent out during the coronavirus pandemic substantially aided Americans in paying basic bills, as well as...
Jun 14, 2021 | FinTech, News
Walmart Adds to Financial Services Offerings with PayNearMe and Green Dot Partnerships Last week, retail giant Walmart announced a new partnership with PayNearMe, a bill payment fintech, and bank technology company Green Dot to provide a way for customers to use cash...
Jun 11, 2021 | Congressional Legislation, News
Senate Passes Eight Bipartisan Indian Affairs Bills Last month, the U.S. Senate Committee on Indian Affairs passed eight bills to help promote Tribal economic development, as well as strengthen Tribal Self-Determination. The bills now head to the House for further...
Jun 9, 2021 | Banks & Credit Unions, Federal Regulation, News
Acting Comptroller Hsu Says No Plans to Review Valid When Made Rule Michael Hsu, Acting Comptroller of the Currency, recently said the Office of the Comptroller of the Currency (OCC) will not review the “valid when made” rule initially implemented during the Trump...
Jun 7, 2021 | Banks & Credit Unions, News
Overdraft Revenue Fell Nearly 10 Percent in 2020 Overdraft revenue fell by nearly 10 percent in 2020—the first time in six years—largely attributed to pandemic-related resources that helped Americans save money and pay off debt. Financial firms brought in roughly...
Jun 4, 2021 | Banks & Credit Unions, News
Square Appears to be Preparing to Offer Checking and Savings Accounts Square Inc., the company that made a name for itself with a new method for small businesses to accept credit card payments, now appears to be privately preparing to offer checking and savings...
Jun 2, 2021 | Banks & Credit Unions, News
Banks Look for Credit Card Revenue to Rebound Post-Pandemic As restrictions from the COVID-19 pandemic let up and stimulus checks stop arriving to Americans, big U.S. banks are expecting credit card balances to start increasing again. Lenders like Capital One,...
May 31, 2021 | Banks & Credit Unions, Federal Regulation, News
OCC Report Details Risks and Effects of Pandemic on Federal Banking System The Office of the Comptroller of the Currency (OCC) recently released its “Semiannual Risk Perspective for Spring 2021” which highlights the main issues surrounding the effects of the COVID-19...
May 28, 2021 | Congressional Legislation, News
Brown to Introduce Legislation Capping Interest Rates at 36% Earlier this week, chairman of the Senate Banking Committee Sherrod Brown (D-Ohio) told Reuters that he is prioritizing legislation that would place a national 36 percent APR cap on loans. This announcement...
May 26, 2021 | Congressional Legislation, News
House Financial Services Ranking Member Patrick McHenry: Use Technology to Serve Unbanked and Underbanked Americans The House Financial Services Committee recently held a virtual hearing entitled “Oversight of Prudential Regulators: Ensuring the Safety, Soundness,...
