CFPB: Tech Giants Ordered to Turn Over Information on their Payment System Plans
Orders will help CFPB monitor for data surveillance, access restrictions, and other consumer protection risks as payments technologies and markets evolve Today, the Consumer Financial Protection Bureau (CFPB) issued a series of orders to collect information on the business practices of large technology companies operating payments systems in the United States. The information will help…
ABA: Credit Market Expectations for Businesses and Consumers Confirm Solid Economic Outlook
The chief economists of North America’s largest banks expect credit conditions to continue improving for both consumers and businesses over the next six months, according to the American Bankers Association’s latest Credit Conditions Index released today. The latest summary of ABA’s Credit Conditions Index examines a suite of indices derived from the quarterly outlook for credit markets…
ABA: Bank Employees Across U.S. Celebrate Get Smart About Credit Day and Share Financial Knowledge with Students
Bank employees across the country will celebrate the American Bankers Association Foundation’s Get Smart About Credit campaign today and throughout the year by sharing information with teens and young adults on a range of personal finance topics. Get Smart About Credit Day, celebrated annually on the third Thursday of October, is one of three ABA Foundation youth…
Census Bureau: Household Pulse Survey Phase 3.2 Biweekly Data Released
The U.S. Census Bureau today released new data from phase 3.2 of the experimental Household Pulse Survey. This phase of data collection includes new questions on the Child Tax Credit, sexual orientation and gender identity (SOGI), rent/mortgage arrears, utility arrears and restrictions, summer catch-up education activities for grades K-12 and preventative health care for children. The…
ABA: Officers and Board for 2021-2022 Elected
Members attending the American Bankers Association’s annual convention in Tampa, Fla. have elected new ABA officers and directors to serve on ABA’s board for the 2021-2022 association year. The new officers are: CHAIR: A. Scott Anderson, president and CEO, Zions Bank, Salt Lake City; CHAIR-ELECT: Daniel D. Robb, president and CEO, Jonesburg State Bank, Jonesburg,…
FHFA: Two Measures Advancing Housing Sustainability and Affordability Announced
Expands Eligibility for Fannie Mae’s and Freddie Mac’s Refinance Programs for Low- and Moderate-Income Borrowers and Restores Desktop Appraisal Flexibility The Federal Housing Finance Agency (FHFA) today announced two measures to sustainably advance the affordability of homeownership for mortgage borrowers across the nation, especially those in underserved communities. “Expanding eligibility for low- and moderate-income families to refinance…
EDA: $1.1 Million Invested to Support an Inter-Regional Economic Development Plan and Create Jobs in Metropolitan Washington, D.C.
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.1 million grant to Connected DMV, an organization located in Arlington, Virginia, to support their ‘DMV Regional Equity and Growth Playbook’ to boost business growth and create jobs. This EDA project will be matched with $286,671…
ABA: National Survey Shows U.S. Consumers Give Banks High Marks on Performance and Information Security
Nine in 10 Americans with a bank account (88%) say they are “very satisfied” or “satisfied” with their primary bank, and 97% rate their bank’s customer service as “excellent,” “very good” or “good,” according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The survey, conducted earlier this month…
Census Bureau: Small Business Pulse Survey Phase 6 Weekly Data Released
The U.S. Census Bureau today released new data from the sixth phase of the Small Business Pulse Survey (SBPS). Data collection began August 16. Results will be released weekly August 26 to October 21. New content in the SBPS Phase 6 covers difficulties hiring employees, new workplace norms, changes in demand for goods or services, and price…
FDIC: New Tool Released to Build Financial Capability
FDIC released How Money Smart Are You? on September 30th. This suite of 14 self-paced games and related resources is the newest addition to FDIC’s Money Smart product family. This new educational tool provides practical knowledge to help consumers manage their finances with confidence. Users play games to learn more about borrowing money, managing debt, saving and…