Jan 25, 2024 | Federal Regulation, Litigation, News
Supreme Court Signals It Will Claw Back Federal Agency Power Last week, the Supreme Court signaled that it will likely cut back the regulatory power of federal agencies when several justices indicated during a pair of arguments they were ready to overrule a legal...
Jan 23, 2024 | Federal Regulation, News
CFPB Proposes Rule to Crack Down on Overdraft Fees Last week, the Consumer Financial Protection Bureau (CFPB) proposed a rule to rein in excessive overdraft fees that would close a loophole exempting overdraft lending services from provisions of the Truth in Lending...
Jan 17, 2024 | Congressional Legislation, FinTech, News
House Financial Services Committee Announces Bipartisan AI Working Group Last week, House Financial Services Committee (HFSC) Chairman Patrick McHenry (R-N.C) and Ranking Member Maxine Waters (D-Calif.) announced the formation of the Committee’s bipartisan Working...
Jan 11, 2024 | Financial Literacy, News
33% of Consumers Saw Credit Scores Decline After Unexpected Expense A recent report by PYMNTS Intelligence and Sezzle entitled “Credit Card Use During Economic Turbulence” found that roughly 60 percent of all consumers had an unexpected expense in the last year,...
Jan 9, 2024 | Congressional Legislation, News
Rep. Blaine Luetkemeyer, Influential Voice on House Financial Services Committee, Announces Retirement from Congress Rep. Blaine Luetkemeyer (R-Mo.), a senior member of the House Financial Services Committee, announced last week that he will retire at the end of the...
Jan 3, 2024 | Financial Literacy, News
Nearly 2/3 of Americans Do Not Expect Personal Financial Situation to Improve in 2024 A new Bankrate survey found that 63 percent of Americans do not expect their personal financial situation to improve in 2024. More than a quarter (26 percent) believe their financial...
Dec 27, 2023 | Financial Literacy, News
New Report Finds 19% of Consumers Use BNPL to Bypass Hard Credit Checks “Buy now, pay later” (BNPL) products break down payments into more affordable installments, giving consumers more control over the timing of their expenses. A recent PYMNTS Intelligence report...
Dec 21, 2023 | Financial Literacy, News
Gen X Consumers Hold More Debt than Other Generations A recent research collaboration by PYMNTS Intelligence and Sezzle entitled “The Credit Accessibility Series: Economic Malaise Exacerbating U.S. Consumer Debt Levels” found that Generation X (ages 41-56) has more...
Dec 19, 2023 | Congressional Legislation, Federal Regulation, News
Sens. Brown, Warnock, and Fetterman Send Letter to CFPB on Holiday BNPL Spending This week, U.S. Senators Sherrod Brown (D-Ohio), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, joined by Sens. Raphael Warnock (D-Ga.) and John Fetterman...
Dec 14, 2023 | Federal Regulation, FinTech, News
OCC Issues BNPL Guidance Last week, the Office of the Comptroller of the Currency (OCC) issued guidance to national banks and federal savings associations addressing what it says are the risks of “buy now, pay later” (BNPL) lending. BNPL products present compliance,...
