Consumer Delinquency Expectations Reach Highest Level Since April 2020
Consumer Delinquency Expectations Reach Highest Level Since April 2020 In September, U.S. consumers’ delinquency expectancy increased for the fourth month in a row to reach its highest number since April 2020, according to a recent press release regarding the Survey...
Nearly 8 in 10 Millennials and Gen Z Get Financial Advice from Social Media
Nearly 8 in 10 Millennials and Gen Z Get Financial Advice from Social Media According to a recent PYMNTS Intelligence report, titled “The New Challenges Facing Finance: Algorithms, Finfluencers and the Quest for Reliability,” 79 percent of millennial and Gen Z...
CFPB Issues Warning to Medical Debt Collectors
CFPB Issues Warning to Medical Debt Collectors The Consumer Financial Protection Bureau (CFPB) has started crafting a bill that would bar the reporting of medical debt on consumer credit reports, part of a broader push by the agency against medical debt. The CFPB has...
Senate Democrats Ask CFPB to Enact Stricter Guardrails for BNPL Providers
Senate Democrats Ask CFPB to Enact Stricter Guardrails for BNPL Providers Several Senate Democrats wrote a letter to the Consumer Financial Protection Bureau (CFPB) urging the agency to establish stricter guidelines for buy now, pay later (BNPL) lenders and arguing...
California Enacts Package of Consumer Protection Bills
California Enacts Package of Consumer Protection Bills Last week, California enacted a package of consumer protection laws, including three bills aimed at restricting debt collection practices surrounding civil actions for money judgments, commercial debt collection,...
CFPB Policy Reminder Says Banks Must Maintain Proof Consumers Opted In to Overdraft Fees
CFPB Policy Reminder Says Banks Must Maintain Proof Consumers Opted In to Overdraft Fees The Consumer Financial Protection Bureau (CFPB) recently said in a policy reminder that banks must keep evidence that customers have opted in to overdraft coverage. As a default,... CFPB Report States Most Frequent Consumer Debt Collection Complaints Last Year Were Attempts to Collect Debts That Were Not Owed
CFPB Report States Most Frequent Consumer Debt Collection Complaints Last Year Were Attempts to Collect Debts That Were Not Owed The Consumer Financial Protection Bureau’s (CFPB) annual Fair Debt Collection Practices Act report stated that in 2023, the most frequent...
Loan Delinquencies Beginning to Level Off
Loan Delinquencies Beginning to Level Off Bankers and industry analysts recently said that U.S. consumers’ late payments on credit cards and other loans have leveled off in recent months after rising earlier this year. Delinquency rates fell to just over 2 percent in...
