CFPB Issues Report on Perceived Financial Preparedness, Security, and Saving
CFPB Issues Report on Perceived Financial Preparedness, Security, and Saving A recent report from the Consumer Financial Protection Bureau (CFPB) examines the relationship between saving money and more objective measures of consumers’ financial situations, like...
House Passes Ten Bipartisan Financial Services Bills
House Passes Ten Bipartisan Financial Services Bills The United States House of Representatives recently passed ten financial services bills, including legislation to protect consumers and investors from pandemic-related fraud, develop more flexible CARES Act funding,...
Boston Fed Chief Warns of U.S. Credit Tightening, Calls for More Fiscal Relief
Boston Fed Chief Warns of U.S. Credit Tightening, Calls for More Fiscal Relief The United States economy could encounter more business bankruptcies and foreclosures in the coming months if there is an increase in COVID-19 cases and no additional fiscal aid, according...
U.S. Consumer Spending Seems to Decline in August as Extended Unemployment Lapses
U.S. Consumer Spending Seems to Decline in August as Extended Unemployment Lapses American consumer spending was found to decline in August, likely due to the lapse of extended unemployment benefits to millions of Americans at the end of July. The data, released by...
Senators Gillibrand and Sanders Reintroduce Postal Banking Act
Senators Gillibrand and Sanders Reintroduce Postal Banking Act Last week, U.S. Senators Kirsten Gillibrand (D-N.Y.) and Bernie Sanders (D-Vt.) hosted a Facebook Live conversation where the two legislators announced their reintroduction of the Postal Banking Act,... Survey Finds Most Americans Say They Can Now Manage Finances Without Physical Bank Branch
Survey Finds Most Americans Say They Can Now Manage Finances Without Physical Bank Branch A recent survey commissioned by Plaid found that, largely due to the COVID-19 pandemic, most Americans have smoothly transitioned to digital banking and are increasingly turning...
CFTC Report Warns Climate Change Poses Risk to Financial System
CFTC Report Warns Climate Change Poses Risk to Financial System A recent report from a task force for the Commodity Futures Trading Commission (CFTC) warned that climate change could seriously affect the U.S. financial system and urged regulators to move decisively...
Declines in Credit Unions’ Credit Card Debt Mirror Broader Trend
Declines in Credit Unions’ Credit Card Debt Mirror Broader Trend According to a new report from WalletHub, Americans have paid down more than $118 billion of credit card debt in 2020, eliminating all of the sector’s 2019 gains. Total credit card debt fell 7.6 percent...
