ABA: National Consumer Survey Highlights Major Banking Policy Issues
National survey finds strong majorities believe Congress should allow cannabis banking, find overdraft protection valuable, and think fintechs and credit unions should be held to same standards as banks U.S. consumers support cannabis banking, value overdraft protection and believe financial technology companies and credit unions should be held to the same standards as banks, according…
CFPB: New Report Finds High Fees Charged on Student Banking Products Endorsed by Colleges
Some financial institutions and colleges may be steering students to more expensive financial products The Consumer Financial Protection Bureau (CFPB) published a report on terms and fees associated with banking products marketed in partnership with colleges to students. The report raises questions about whether some marketing deals between colleges and financial institutions comply with Department…
CDFI Fund: Summary Report and Public Data for NMTC Program for FY 2003-2020 Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today released a Summary Report and data collected on all New Markets Tax Credit (NMTC) investments across the nation through fiscal year (FY) 2020. The CDFI Fund requires all Community Development Entities (CDEs) that have been awarded NMTC allocations to submit an…
ABA: Bank Economists Expect Credit Conditions to Weaken over Next Six Months
Bank economists expect credit conditions to weaken over the next six months due to mounting economic headwinds, 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 produced by ABA’s Economic Advisory Committee (EAC),…
Census Bureau: Household Pulse Survey Phase 3.6 Monthly Data Released
The U.S. Census Bureau today released new data from phase 3.6 of the experimental Household Pulse Survey (HPS). The HPS is an effort by the Census Bureau and other federal statistical agencies to provide near real-time data on how the COVID-19 pandemic, and changes in social and economic conditions are affecting people’s lives to inform federal and…
Census Bureau: New 1-Year Estimates for Income and Poverty Released from 2021 American Community Survey
Today the U.S. Census Bureau released new income and poverty briefs from the 2021 American Community Survey (ACS), 1-year estimates and years prior. These briefs analyze changes in median household income and poverty rates for the nation, states, the District of Columbia, Puerto Rico and the most populous metropolitan areas between 2019 and 2021. The Poverty:…
ABA: National Survey Finds U.S. Consumers Are Overwhelmingly Happy with Their Bank and Financial Industry “Highly Competitive”
Survey also found consumers highly value credit card rewards programs and don’t want the federal government to put them at risk Nine in 10 Americans with a bank account (86%) say they are “very satisfied” or “satisfied” with their primary bank, and 95% rate their bank’s customer service as “excellent,” “very good” or “good,” according…
Census Bureau: Dynamics of Poverty Report Released
Today the U.S. Census Bureau released a new report on poverty statistics from the 2018-2020 Survey of Income and Program Participation (SIPP). This report provides monthly, annual, episodic and chronic poverty rates over the 2017-2019 period to provide additional insight for measuring poverty in the United States. Monthly poverty rates can provide insight into changes in poverty within…
HUD and Census Bureau: New American Housing Survey Released
2021 Survey Provides Insights on Housing From the Height of the Pandemic In general, 2020 and 2021 were good for homeowners but presented challenges for many renters. That’s according to the new 2021 American Housing Survey released today by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. Every two…
CFPB: Violations of Federal Law by Student Loan Services and University-Owned Lenders Found
Blanket withholding of academic transcripts to pressure borrowers to pay cited as unlawful Today, the Consumer Financial Protection Bureau (CFPB) released a special edition of Supervisory Highlights on recent examination findings covering the practices of student loan servicers, and schools that lend to students directly. The exams found that these schools had improper blanket policies of withholding…