World Bank Predicts Worst Global Economic Downturn Since 1940s
World Bank Predicts Worst Global Economic Downturn Since 1940s Earlier this month, the World Bank released an updated “Global Economic Prospects” report predicting, among other things, that millions of people around the world would shift into extreme poverty due to...
Senator Brown Proposes Privacy Bill to Protect Consumer Data
Senator Brown Proposes Privacy Bill to Protect Consumer Data Senator Sherrod Brown (D-Ohio) earlier this week released the Data Accountability and Transparency Act of 2020, a draft privacy bill that would allow Americans to hold the federal government, tech companies,...
California Puts State-Level Financial Protection Agency Proposal on Hold
California Puts State-Level Financial Protection Agency Proposal on Hold California’s plan to create a state consumer financial protection agency⎯announced in January as part of Governor Gavin Newsom’s budget proposal⎯was temporarily put on hold to focus on more...
Income & Employment Trends During COVID-19
Income & Employment Trends During COVID-19 Unemployment claims have exceeded 36 million in America, and our economy is experiencing a shift no one saw coming. In these unprecedented times, consumers have taken drastic measures that are changing their borrowing...
New York Fed Says Consumers Were More Optimistic About Economy in May
New York Fed Says Consumers Were More Optimistic About Economy in May According to the Federal Reserve Bank of New York’s Survey of Consumer Expectations for May 2020, Americans grew more optimistic about the state of the economy compared to April. However,... Experian Report Shows Decreased Delinquency Rates on Auto Loans in Q1 2020
Experian Report Shows Decreased Delinquency Rates on Auto Loans in Q1 2020 According to Experian’s most recent State of the Automotive Finance Market Report, delinquency rates on automotive loans went down during the first quarter of 2020, even as the industry dealt...
U.S. Economy Officially Enters Recession as of February
U.S. Economy Officially Enters Recession as of February In February 2020, the United States economy entered its first recession in 11 years as a result of the widespread business shutdown during the coronavirus pandemic. According to a report issued this week by the...
Banks Collected $11 Billion in Overdraft Fees in 2019
Banks Collected $11 Billion in Overdraft Fees in 2019 Banks last year collected $11.68 billion from customer accounts in overdraft fees, according to new research released last week by the Center for Responsible Lending (CRL), an advocacy group focused on financial...
