Twelve new state comprehensive data privacy laws are set to go into effect over the next two years as the United States continues to catch up to foreign jurisdictions like the European Economic Area (EEA), making a total of nineteen such state laws enacted to date.
Delinquency rates are unchanged, at least in the second quarter. But debt is still rising, indicating the pressures of recent and continued spending on credit cards, on new auto loans and new mortgages may tip those delinquencies higher.
And in the meantime, in the effort to combat those interest payment pressures, might it be the case that buy now, pay later loans see a wider embrace by U.S. households?
Quick analysis: Everything Down in June, Yet Up YTD
Not sure we’ve seen this one before! in June, every consumer complaint statute we track was down (TCPA -7.4%, FDCPA -32.1%, FCRA -9.2%), yet every one of them was still up year to date (TCPA +8.6%, FDCPA +15.4%, FCRA +21.1%).
The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in May 2024.
As a result of a Federal Trade Commission lawsuit, the owners and operators of a sprawling credit repair operation known as Financial Education Services (FES) will end the practices that the FTC alleged created a pyramid scheme and also violated the Credit Repair Organizations Act. In addition, the proposed court orders include substantial monetary penalties.
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