Seven Million Americans May Lose Unemployment Aid After Labor Day
Seven Million Americans May Lose Unemployment Aid After Labor Day For many Americans, next week represents a looming monetary cliff with the potential to significantly impact their financial situations, as more than seven million Americans are set to lose their...
NY Enacts Law Tackling Overdraft Fees
NY Enacts Law Tackling Overdraft Fees As one of his final acts in office, now-former Democratic Governor of New York Andrew Cuomo signed a bill earlier this month targeting bank overdraft fees. The legislation will go into effect January 1, 2022, and will prohibit New...
Wells Fargo Reverses Plan to End Personal Credit Lines
Wells Fargo Reverses Plan to End Personal Credit Lines Wells Fargo is reversing its decision to end personal lines of credit, a plan the bank released last month that did not fare well among consumers who use the credit product. The decision also drew criticism from...
Average FICO Score Continues to Rise; Hits 716 in April 2021
Average FICO Score Continues to Rise; Hits 716 in April 2021 FICO recently announced that the average FICO credit score hit 716 in April 2021, which is eight points higher than one year ago and five points higher than the average score reported in October 2020. The... Retail Sales Down in July, According to Department of Commerce Report
Retail Sales Down in July, According to Department of Commerce Report The Commerce Department recently reported that spending at U.S. retailers fell 1.1 percent in July, amidst the rise of COVID-19 cases linked to the Delta variant as well as a decrease in purchases... Legislation Introduced to Include Fintech Lenders in SBA Loan Program
Legislation Introduced to Include Fintech Lenders in SBA Loan Program Earlier this month, Senators Tim Scott (R-S.C.) and John Hickenlooper (D-Colo.) introduced legislation—the Expanding Access to Credit for Small Business Act—that would permit fintechs to...
NYDFS Superintendent to Resign August 24
NYDFS Superintendent to Resign August 24 New York State Department of Financial Services (NYDFS) Superintendent Linda Lacewell announced earlier this month her intent to resign, effective August 24. Her resignation comes after a report tied her to the sexual...
Senate-Passed Infrastructure Bill Includes More Than $11 Billion for Indian Country
Senate-Passed Infrastructure Bill Includes More Than $11 Billion for Indian Country Last week, the U.S. Senate passed the Infrastructure Investment and Jobs Act, broad legislation to rebuild America’s infrastructure as well as fund climate resilience and broadband...
