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...
California Legislature Passes Bills Requiring Debt Collectors to Obtain Licenses
California Legislature Passes Bills Requiring Debt Collectors to Obtain Licenses The California legislature has now passed a third piece of legislation related to the consumer financial services industry, SB 908, which establishes new licensure requirements for debt...
Data Firm Finds Online Loans Holding Up Better Than Expected
Data Firm Finds Online Loans Holding Up Better Than Expected In a newly-released report, the data firm dv01 found that the percentage of online loan borrowers who made their regularly scheduled loan payments continued to rise in August, despite the lingering and...
Fed Survey Reports Widespread Uncertainty About U.S. Economic Future
Fed Survey Reports Widespread Uncertainty About U.S. Economic Future A recent Federal Reserve report, known as the Beige Book, found that while economic activity was on the rise in August 2020, there is widespread uncertainty about the economic future of the United...
CFPB Report Examines Early Impact of Pandemic on Consumer Credit
CFPB Report Examines Early Impact of Pandemic on Consumer Credit Last month, the Consumer Financial Protection Bureau (CFPB) issued a report analyzing the early effects of the coronavirus pandemic on consumer credit. Focusing on mortgage, auto and student loans, and...
More States Establishing Regulatory Sandboxes for Fintechs
More States Establishing Regulatory Sandboxes for Fintechs Regulatory sandboxes are increasingly being used across the United States as a way to foster innovation, as they provide opportunities for companies to test new products or offerings before going through the...
House Financial Services Committee to Hold Seven Hearings in September
House Financial Services Committee to Hold Seven Hearings in September This month, the House Financial Services Committee (HFSC) will hold seven virtual and hybrid hearings on a range of topics, including financial regulatory accountability and the economic response...
Sens. Udall and Cantwell Lead Senators in Pressing for Accurate 2020 Census Count for Native Communities
Sens. Udall and Cantwell Lead Senators in Pressing for Accurate 2020 Census Count for Native Communities Senators Tom Udall (D-N.M.) and Maria Cantwell (D-Wash.) recently joined 18 of their Senate Democratic colleagues in pushing the U.S. Department of Commerce and...
