ABA: Credit Card Delinquencies Fall as Other Consumer Delinquencies Rise Slightly

Consumer credit delinquencies were mixed in the second quarter, with delinquencies falling for bank cards (credit cards provided by banks) and rising for the composite index of closed-end loans, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. Overall, delinquencies rose in eight of the 11 categories […]

CFPB: Bureau and State Regulators Launch American Consumer Financial Innovation Network

The Consumer Financial Protection Bureau (Bureau), working in partnership with multiple state regulators, launched the American Consumer Financial Innovation Network (ACFIN), a network to enhance coordination among federal and state regulators to facilitate financial innovation. The Bureau invited all state regulators to join ACFIN, and the initial members of ACFIN […]

CFPB: Fourth Biennial Report on the State of the Credit Card Market Released

The Consumer Financial Protection Bureau (Bureau) today released its fourth biennial report on the state of the credit card market for the period 2017-2018.  In 2009, the Credit Card Accountability Responsibility and Disclosure Act (Act) made substantial changes to the legal requirements applicable to the credit card market, with Section […]

ABA: Foundation Seeking Banks to Host 10th Annual Lights, Camera, Save! Video Contest

The American Bankers Association Foundation is urging banks across the country to participate in its Lights, Camera, Save! video contest. Lights, Camera, Save! is a national contest that encourages teens to use video to communicate the value of sound money management.  Through Lights, Camera, Save!, teen participants will create a video up […]

ABA: Report Shows Credit Card Market Moderated in First Quarter 2019

Credit card use moderated in the first quarter of 2019, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. Compared to the previous quarter, seasonally adjusted purchase volumes declined across risk tiers. Compared to year-ago levels, purchase volumes rose among super-prime (+5.2 percent) and subprime (+4.3 percent) […]

FDIC: Annual Publication Examines Potential Credit and Market Risks

The Federal Deposit Insurance Corporation (FDIC) today published its 2019 Risk Review, an annual publication highlighting emerging risks and exposures in the banking system. The publication will be of particular interest to financial institutions, policymakers, analysts, and regulators.  “The FDIC is committed to transparency and accountability, and the publication of our 2019 […]

CFPB: Advanced Notice of Proposed Rulemaking on Qualified Mortgages Released

The Consumer Financial Protection Bureau (Bureau) today issued an Advance Notice of Proposed Rulemaking (ANPR) seeking information relating to the expiration of the temporary qualified mortgage provision applicable to certain mortgage loans eligible for purchase or guarantee by the Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, in the […]

ABA: Response Requested from NCUA in Light of Credit Union Industry Research Report

​Today the American Bankers Association sent a letter to the National Credit Union Administration (NCUA) requesting a “top-to-bottom assessment” of whether the modern day credit union industry is meeting its targeted, statutory mission to serve people of “small means.” The formal request follows this week’s release of a comprehensive new report from Federal Financial […]

FDIC: Agency Cautions Customers that FDIConnect.com is Not Affiliated with a Government Agency

The Federal Deposit Insurance Corporation (FDIC) advises bank customers on the potential for confusion between FDIConnect.com and the FDIC-run website, FDICconnect.gov. The FDIC is aware of the website FDIConnect.com, which advertises itself as a consumer-focused provider of FDIC pass-through insurance for bank deposits. The public should be advised that FDIConnect.com […]