Total household debt outstanding ticked up by $71 billion in Q3, or by 0.57%, from Q2, to $17.9 trillion, according to the Household Debt and Credit Report from the New York Fed today.
Nearly 96 percent of all U.S. households were banked in 2023, according to just-released national survey by the Federal Deposit Insurance Corporation (FDIC). The 2023 FDIC National Survey of Unbanked and Underbanked Households found that 4.2 percent of U.S. households (representing 5.6 million households) lacked a bank or credit union account.
The Office of the Comptroller of the Currency (OCC) today announced the promotions of Robert Barnes and Kevin Greenfield as Deputy Comptrollers for Large Bank Supervision (LBS).
Today the Consumer Financial Protection Bureau (CFPB) issued its first results from its Student Loan Borrower Survey, providing insights into the effects of student loan debt relief programs and the challenges borrowers face in navigating repayment options. The survey, conducted between October 2023 and January 2024, gathered data from a representative sample of student loan borrowers as the federal student loan payment pause ended and many borrowers returned to repayment.
The Department of Consumer and Worker Protection (DCWP) has announced updates to its debt collection regulations, aiming to enhance consumer protections and better align with current practices in the industry. Originally set to take effect on December 1, 2024, these regulations will now be implemented on April 1, 2025. This delay allows additional time for debt collectors to adjust their operations in response to the feedback provided by industry stakeholders. You can view the official notice of the date change here.
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