April 18, 2024
Credit Card Late Fee Cap Has Winding Path Ahead In...
Out of committee…and now the path is a winding one for the proposed repeal of the Consumer Financial Protection Bureau’s (CFPB) rule that would cap credit card late fees as soon...
April 18, 2024
House GOP Targets Shadow Bank Regulations
A top House Republican wants to overturn a recent federal regulation governing non-bank financial companies. Rep. French Hill (R-Ark.) introduced a resolution Wednesday (April 17) that would yank the approval of the Financial Stability...
April 18, 2024
Marqeta and Rain Team to Offer Earned Wage Access Debit...
Marqeta is expanding its earned wage access program with assistance from financial wellness provider Rain. The card-issuing platform announced its collaboration with Rain Thursday (April 18), with Marqeta powering the Rain Card,...
April 18, 2024
Discover Financial: Inflation Is Pressuring Lower Income Consumers
The $35 billion deal for Capital One to buy Discover Financial Services remains on track. And in a truncated first-quarter earnings call — where the usual question-and-answer session was not...
April 18, 2024
Revolut Invests $100 Million in Mexico as Remittances Jump
Revolut has reportedly made a $100 million-plus bet on Mexico’s remittance market. Speaking with Reuters Wednesday (April 17), Revolut Mexico CEO Juan Miguel Guerra said the bulk of that investment...
April 18, 2024
Nearly Half of US Consumers Earning $100K+ Live Paycheck to...
According to PYMNTS Intelligence, 62% of U.S. consumers now live paycheck to paycheck, and that includes 48% of consumers earning more than $100,000 annually. In other words, higher incomes do...
April 17, 2024
Fed’s Beige Book Cites Weak Discretionary Spending
Eight times each year the Fed publishes what’s known as the Beige Book — a qualitative take from each of the 12 federal bank districts. The assessments cover everything from...
April 17, 2024
CFPB Finds Coding Bootcamp BloomTech Deceived Students About Loans, Jobs
The Consumer Financial Protection Bureau (CFPB) has issued an order against coding bootcamp BloomTech, also known as the Bloom Institute of Technology, and its CEO, Austen Allred, alleging that they deceived students about the real cost...
April 17, 2024
US Bancorp Interest Income Dips as Customer Caution Continues
U.S. Bancorp is forecasting a decline in net interest income for this year. In announcing its earnings Wednesday (April 17), the lender said it anticipates net interest income (NII) of $16.1...
