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,...
Dec 12, 2023 | Congressional Legislation, News
HFSC Chairman McHenry Announces He Will Retire At the End of This Term House Financial Services Committee (HFSC) Chairman Patrick McHenry (R-N.C.) recently announced that he will not seek re-election to the House, choosing instead to retire at the end of his current...
Dec 6, 2023 | Federal Regulation, News
CFPB’s Plan to Crack Down on Overdraft Fees Expected in December Officials from the Consumer Financial Protection Bureau (CFPB) have recently told industry executives that the agency will most likely reveal its plan to crack down on overdraft fees this month. The...
Nov 30, 2023 | Federal Regulation, News
FDIC Under Fire After Report of Sexual Harassment, Other Misconduct The Wall Street Journal recently published an explosive report highlighting the “toxic atmosphere” described by current and former employees of the Federal Deposit Insurance Corp., including 20 women...
Nov 28, 2023 | Congressional Legislation, Federal Regulation, News
Banking Trade Groups Argue Interest Rate Cap Could Impact Subprime Borrowers’ Credit Access In a recent joint letter to lawmakers, seven bank trade groups warned that the Military Lending Act, which would impose a 36 percent interest rate cap on consumer loans, could...
