Senate Democrats Introduce Bill to Ban Discrimination in Financial Services
Senate Democrats Introduce Bill to Ban Discrimination in Financial Services A number of U.S. Senate Democrats recently introduced the Fair Access to Financial Services Act, which would apply the Civil Rights Act’s ban on discrimination against customers to the banking...
Amazon Launches Payday Advance Program for Warehouse Workers
Amazon Launches Payday Advance Program for Warehouse Workers Amazon recently launched a program called Anytime Pay, which provides payday advances to the company’s most financially vulnerable warehouse workers, allowing them to instantly access up to half of the...
Fed Study Finds that Americans Used Most of Their Stimulus Checks for Saving and Paying Off Debt
Fed Study Finds that Americans Used Most of Their Stimulus Checks for Saving and Paying Off Debt A recent study published by the Federal Reserve Bank of New York (Fed) found that the CARES Act’s economic relief payments in March were primarily used to boost Americans’...
Lending Club Announces Retirement of P2P Lending Platform
Lending Club Announces Retirement of P2P Lending Platform LendingClub, an online marketplace for borrowers to access loans funded by consumer investors in amounts as low as $25, recently announced that its peer-to-peer (P2P) lending platform will be completely shut...
Americans Continue Cutting Credit Card Balances in August, Fed Reports
Americans Continue Cutting Credit Card Balances in August, Fed Reports The Federal Reserve (Fed) reported last week that Americans cut credit card balances again in August for the sixth month in a row. Despite the predicted increase in credit card spending, revolving...
Venmo Launches Its First Credit Card
Venmo Launches Its First Credit Card Earlier this month, Venmo launched its own credit card, issuing it to select Venmo customers. This comes after approximately a year of the company teasing a possible credit card offering, as well as a debit card released in June...
Bank of America Announces Plans to Offer Short-Term Loans
Bank of America Announces Plans to Offer Short-Term Loans Last week, Bank of America Corp. unveiled plans to offer short-term loans to customers that have had checking accounts for more than a year. Under the new plan, customers can borrow up to $500 for a flat $5...
Reshaped Supreme Court Could Aim at Regulatory Power
Reshaped Supreme Court Could Aim at Regulatory Power After the death of Justice Ruth Bader Ginsburg last month and the subsequent nomination of Judge Amy Coney Barrett to replace her on the Supreme Court, many expect the reshaped, conservative-dominated Court to be...
