In the wake of the COVID-19 pandemic, millions of Americans have found themselves facing financial hardship and struggling to make monthly housing payments. While relief options are available to homeowners and renters alike, it can be difficult to know where to look for information. To help consumers navigate this challenging […]
The U.S. economy will experience about a 6% contraction this year, but will begin to recover from a severe second-quarter downturn in the third quarter, according to the latest forecast of the American Bankers Association’s Economic Advisory Committee. While the group, made up of 16 chief economists from some of […]
Consumer groups and banking industry organizations joined together today to support bipartisan legislation that would prevent Economic Impact Payments from being subject to garnishment. The following statement was issued today by the American Bankers Association, Bank Policy Institute, Consumer Bankers Association, The Clearing House, National Consumer Law Center (on behalf […]
“The modernization of CRA’s outdated rules is long overdue, and we are very grateful to Comptroller Otting and the OCC staff for their commitment to this important effort. Stakeholders on all sides have acknowledged that the current CRA regime has failed to keep pace with the evolution of banking and […]
Even as credit card use increased in the fourth quarter of 2019, a record share of consumers paid off their bill in full each month, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. Seasonally adjusted monthly purchase volumes rose compared to the previous quarter, particularly among super-prime […]
The ABA Foundation is seeking submissions for its eighth annual Community Commitment Awards. The awards, one of the industry’s highest honors for extraordinary bank commitment to communities, recognizes innovative, high-impact programs that improve the quality of life for the customers and communities banks serve. The entry period ends July 1. “Now […]
The American Bankers Association (ABA) and the National Bankers Association (NBA) today announced that the organizations have joined together in a strategic partnership to promote the health and well-being of minority depository institutions (MDIs). This partnership will build on existing membership overlap and enable NBA and ABA members to work […]
In a letter to congressional leadership today, consumer and banking industry organizations joined together to urge lawmakers to clarify at the earliest possible opportunity that economic impact payments issued by the federal government in response to the coronavirus pandemic should be exempt from otherwise legally binding garnishment orders. “Congress passed the CARES […]
While schools may be closed due to COVID-19, bankers across the country are finding new and innovative ways to share the Teach Children to Save program this year, including virtual financial education lessons for children across the nation. Since 1997, the ABA Foundation’s financial education initiatives have reached 11.1 million […]
Consumer credit delinquencies rose in the fourth quarter of 2019, driven by increases in auto and home-related delinquencies, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. Overall, delinquencies rose in eight of the 11 categories tracked by ABA while delinquencies in three categories fell. The composite […]
