Despite a general decrease in payment issues, financially struggling consumers continue to face these disruptions at alarmingly high rates, especially when making essential purchases.
According to a PYMNTS Intelligence report, “Financially Struggling Consumers Are Twice as Likely to Face Payment Declines,” while payment declines have decreased overall, consumers living paycheck-to-paycheck remain more vulnerable. These consumers encounter payment failures at much higher rates, particularly when making essential purchases. This issue is intensified by the rising frequency of debit card rejections, which now outpace credit card failures by a large margin.
Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra was fired by President Donald Trump on Saturday (Feb. 1) morning.
Chopra was notified of the move when he received an email from the White House, CNN reported Saturday.
A White House official told CNN, per the report, “It’s the executive’s decision and prerogative to see who they want in that role.”
The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of January 1, 2025, through January 31, 2025.
Federal bank regulatory agencies will hold a virtual public outreach meeting on March 6, 2025, as part of their review of regulations, as required by law. The Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) requires the agencies, with input from the public, to review their regulations at least once every 10 years to identify any outdated or otherwise unnecessary regulatory requirements applicable to their supervised institutions.
Just one business day before the FCC’s one-to-one consent rule was set to go into effect, the rule became no more following the Eleventh Circuit’s decision in Insurance Marketing Coalition v. FCC.
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