With all the talk about medical debt this week as a result of the Consumer Financial Protection Bureau’s proposed medical debt credit reporting rule, it’s perhaps interesting to note that a majority of consumers feel forgiving medical debt is more important than forgiving student loan debt, according to the results of a new poll. Fifty-one percent of individuals believe it is very important or extremely important to forgive medical debt, compared with 39% who believe the same for student loan debt.
In 2024, a few key concerns bubble consistently to the top of the list for the paycheck-to-paycheck economy. The PYMNTS Intelligence report “New Reality Check: The Paycheck-to-Paycheck Report: Why One-Third of High Earners Live Paycheck to Paycheck” found that 82% of the roughly 4,000 respondents said concerns about inflation are No. 1 on the list of economic woes, and only 17% hold out any hope that inflation will subside anytime soon.
Republican Gov. Phil Scott has vetoed legislation that would allow Vermonters to sue large data brokers that misuse their sensitive personal information. Scott said the bill, known as H.121, has elicited unusual levels of opposition in Vermont’s business community.
Starting in July 2024, new privacy laws will be enacted in Montana, Oregon, and Texas, providing significant consumer protections regarding personal data. These laws grant consumers the right to know what information is being collected about them, the right to be forgotten, and the right to know who is accessing their information.
Regardless of a credit union’s size, members expect digital-first capabilities that can compete with what for-profit financial institutions (FIs) offer. While many CUs are rising to the innovation challenge, there are differences across the CU landscape. To measure CUs’ current and planned innovations, PYMNTS Intelligence developed the Innovation Readiness Index (IRI). Scores indicate how well CUs’ current products, features and planned innovations align with what members want and the products and features linked to higher satisfaction levels.
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