Capital One CEO Announces Plans to Test Buy Now Pay Later Product
Capital One CEO Announces Plans to Test Buy Now Pay Later Product Capital One recently announced that it will test a Buy Now, Pay Later (BNPL) product later this year, which will include point-of-sale loans for customers at a specific set of merchants with which it...
Bank of America Introduces Program to Help Customers Avoid Overdrafts
Bank of America Introduces Program to Help Customers Avoid Overdrafts Bank of America Corp. recently introduced a new program, titled Balance Connect, which will automatically move customers’ money to avoid overdraft fees. Customers can link their checking account...
Survey: 40% of Americans Have Less Than $300 in Savings
Survey: 40% of Americans Have Less Than $300 in Savings According to a recent GOBankingRates survey, 40 percent of Americans have less than $300 in savings, reflecting the effects of the COVID-19 pandemic on Americans’ financial health. This data is significantly less...
Experian’s 12th State of Credit Report Shows Rise in Credit Scores Despite Pandemic Challenges
Experian’s 12th State of Credit Report Shows Rise in Credit Scores Despite Pandemic Challenges Experian recently released its 12th annual State of Credit report, finding that despite the COVID-19 pandemic, the average credit score rose to 695, the highest it has been...
Yellen Warns of Financial Stability Implications if Congress Fails to Raise Debt Ceiling
Yellen Warns of Financial Stability Implications if Congress Fails to Raise Debt Ceiling Treasury Secretary Janet Yellen recently sounded alarm bells for U.S. financial regulators, warning that if the nation’s debt ceiling isn’t addressed, there could be “financial...
NY Gov. Hochul Nominates Adrienne Harris to Lead NYDFS
NY Gov. Hochul Nominates Adrienne Harris to Lead NYDFS Shortly after taking office following former Governor Andrew Cuomo’s resignation in the wake of a sexual harassment scandal, New York Governor Kathy Hochul announced the nomination of Adrienne Harris to lead the...
House Financial Services Committee to Hold Seven Hearings, One Markup in September
House Financial Services Committee to Hold Seven Hearings, One Markup in September This month, the House Financial Services Committee will hold seven hearings and one full Committee markup, according to a schedule released by Committee Chair Maxine Waters (D-Calif.)....
Credit Unions Exploring Buy Now, Pay Later Installment Products
Credit Unions Exploring Buy Now, Pay Later Installment Products Buy now/pay later (BNPL) installment products have become more popular throughout the COVID pandemic, with credit unions increasingly participating in offering the product. Typical BNPL products allow...
