CFPB Restarts MLA Exams
CFPB Restarts MLA Exams The Consumer Financial Protection Bureau (CFPB) recently issued an interpretive rule that reasserts its authority to use Military Lending Act (MLA) exams to protect servicemembers from overpaying for financial services. The CFPB started...
Morning Consult Report Finds Nearly 1 in 5 Americans Have Overdrafted Accounts Within Past Year
Morning Consult Report Finds Nearly 1 in 5 Americans Have Overdrafted Accounts Within Past Year Recent data from Morning Consult showed that nearly half of Americans overdrafted their accounts in the past and 19 percent have overdrafted within the last 12 months. At...
Study Finds One in Three Consumers Found Errors in Credit Report
Study Finds One in Three Consumers Found Errors in Credit Report According to a recent study checking consumer credit reports for accuracy conducted by Consumer Reports, 34 percent of the nearly 6,000 Americans who volunteered to be part of the study found errors in...
Stimulus Checks Helped Americans Pay Bills, Reduce Economic Anxiety, Analysis Shows
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...
Walmart Adds to Financial Services Offerings with PayNearMe and Green Dot Partnerships
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...
Senate Passes Eight Bipartisan Indian Affairs Bills
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...
Acting Comptroller Hsu Says No Plans to Review Valid When Made Rule
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... Overdraft Revenue Fell Nearly 10 Percent in 2020
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...
