CFPB: Amendent to “Know Before You Owe” Mortgage Disclosure Rule Finalized
Today the Bureau of Consumer Financial Protection (Bureau) finalized an amendment to its “Know Before You Owe” mortgage disclosure rule that addresses when mortgage lenders with a valid justification may pass on increased closing costs to consumers and disclose them on a Closing Disclosure. The update is intended to provide greater clarity and certainty to…
ABA: Report Shows Credit Card Market Expanded in Fourth Quarter 2017 Amid Strong Holiday Spending Season
Credit card use continued to grow in the fourth quarter of 2017 on the back of a strong holiday season for consumer spending, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. On an annual basis, monthly purchase volumes rose 3.9 percent for prime accounts and 5.1 percent for super-prime accounts, but…
ABA: Bankers Celebrate 21st Annual Teach Children to Save on April 20th
Estimated 444,000 students will be reached in 2018 through Teach Children to Save More than 12,500 bankers will host financial education events across the country this week in celebration of Teach Children to Save Day on April 20. Since 1997, Teach Children to Save and the ABA Foundation’s financial education initiatives have reached approximately 10.3…
Federal Reserve: Application Period Open for Community Advisory Council Membership
The Federal Reserve Board announced on Monday that it is accepting applications from individuals who wish to be considered for membership on the Community Advisory Council (CAC). The CAC was formed in 2015. It advises the Board on issues affecting consumers and communities and complements two of the Board’s other advisory councils whose members represent…
FDIC: Use of Technology in the Business of Banking Forum Scheduled for May 7th
The Federal Deposit Insurance Corporation (FDIC) will host a forum on the Use of Technology in the Business of Banking on Monday, May 7, 2018. Panels will focus on emerging technologies that are transforming banking operations; the impact of emerging technologies on retail banking, including new and innovative delivery channels, enhanced customer experiences, and economic…
FEMA: Agency and Federal Partners Encourage Families to Save for a Rainy Day
Over 40 percent of adults cannot cover an emergency expense of $400 FEMA, in partnership with the U.S. Department of Treasury and the Financial Literacy and Education Commission (FLEC), celebrates Financial Capability Month by reminding individuals and families that the time to prepare for the financial cost of unexpected emergencies is long before an emergency…
FDIC: Use of Technology in the Business of Banking Forum on May 7th in Arlington, VA
The FDIC will host a forum on the Use of Technology in the Business of Banking on Monday, May 7, 2018. The forum will be held from 9:00 a.m. to 3:45 p.m. Eastern Time in the FDIC’s Sheila C. Bair Auditorium, 3501 Fairfax Drive, Arlington, Virginia, 22226. Registration is required to attend. The forum also…
ABA: 6 Tips for Your Financial Spring Cleaning
As Americans kick off the spring season by cleaning, sorting and tidying up around the house, the American Bankers Association is encouraging consumers to add financial organization to their spring cleaning to-do list. To help, ABA has highlighted six tips for organizing your financial house. “People are motivated to get things done when the weather…
Federal Reserve: FEDS Notes – Mobile Banking: A Closer Look at Survey Measures
Ellen A. Merry1 The growing use of smartphones and the Internet has brought rapid change to financial services. These new technologies have given consumers and banks new tools for managing money and changed the customer-bank relationship. They have also raised new concerns about security and access. Mobile banking may help to address some challenges consumers…
CFPB: 4 Tips to Spring Clean Your Finances
By Liane Weissenberger Spring is here, and it’s the perfect time to get your home and your finances in order. Here are a few ways to get started spring cleaning your finances: 1. Request a free credit report You can request a free credit report every 12 months from each of the three major consumer…