April 15, 2024
CFPB Supports Connecticut Bill to Limit Reporting of Medical Debt
The Consumer Financial Protection Bureau (CFPB) has written a letter in support of a Connecticut bill that would prohibit healthcare providers in the state from reporting medical debt to consumer reporting agencies for...
April 15, 2024
US Retail Inventories Climb in February
Retail inventories climbed in February after being flat the prior month. According to the Commerce Department’s Monthly Retail Trade and Food Services report released Monday (April 15), inventories rose 0.6% month...
April 15, 2024
Modular Design: Can Composable Banking Find Favor With FIs?
Banks face constant competitive pressure from their digital-native FinTech counterparts, which attract younger, digital-native customers, who value seamless digital experiences, real-time services and innovative offerings. Traditional FIs often find themselves...
April 12, 2024
Consumer Sentiment ‘Remarkably Steady’ for Fourth Consecutive Month
Consumer sentiment remained essentially unchanged in April, as it has been since the beginning of the year. While the figure inched down 1.9% from March, it remained “remarkably steady” within...
April 11, 2024
OCC’s Hsu Encourages FIs to Help Immigrants Gain Access to...
This week, Michael Hsu, acting comptroller of the currency at the Office of the Comptroller of the Currency (OCC) called on U.S. financial institutions (FIs) to take steps to serve newly arrived...
April 11, 2024
CFPB and EU Eye Consumer Risks of BNPL, AI and...
Consumer protection officials for the United States and the European Commission have met to discuss three shared priorities: buy now, pay later (BNPL), digital payments and artificial intelligence (AI). The...
April 11, 2024
Consumers Make Minimum Credit Card Payments as Inflation Takes a...
In signs of continued pressure in the paycheck-to-paycheck economy, more consumers are making only the minimum payments on their credit cards. And the debt on those cards is rising. The...
April 10, 2024
Share of Credit Card Accounts Past Due Hits 12-Year High
A growing share of credit card accounts are past due on their payments. The Federal Reserve Bank of Philadelphia said in a Wednesday (April 10) press release that the share of accounts that...
April 10, 2024
Wall Street Banks Regaining Share of Financing Deals
Wall Street banks are reporting gaining back some of the share of financing deals they had lost to alternative-asset fund managers, insurers and other private credit. The broadly syndicated loan market...
