Fresh US consumer inflation data published Wednesday is unlikely to sway the Federal Reserve's plans to leave its key lending rate unchanged, but could alter how many rate cuts policymakers pencil in for this year. The annual consumer price index (CPI) came in at 3.3 percent in May, down 0.1 percentage point from April and unchanged on a monthly basis, the Labor Department said in a statement -- slightly below expectations.
Embedded lending — the burgeoning category of payments in which borrowers apply directly within the merchant or provider’s platform — is finding traction with consumers. In fact, five out of six lenders provide access to embedded lending products to consumers, addressing the high demand for embedded financial experiences. That’s one of the top-level findings from a new report from Visa and PYMNTS Intelligence that unpacked the opportunity that embedded lending solutions can offer
In April, FDCPA (+12.7%) and FCRA (+12.7%) suits were up over March, and TCPA (+26.2%), FDCPA (+15.2%) and FCRA (+27.4%) suits were all up YTD. CFPB complaints were also up for the month (+2%) and the year (77.9%!). The only holdup from a complete sweep was April TCPA suits, which ticked down -2.9% from March.
In a notable move to ease the pressures of medical debt and protect consumers’ financial well-being, the Consumer Financial Protection Bureau (CFPB) has introduced a proposal. This proposal aims to update credit reporting practices by removing medical bills from most credit reports, enhancing privacy protections, improving credit scores and loan approvals, and curbing coercive debt collection tactics.
Apple today introduced a groundbreaking new service called Private Cloud Compute (PCC), designed specifically for secure and private AI processing in the cloud. PCC represents a generational leap in cloud security, extending the industry-leading privacy and security of Apple devices into the cloud. With custom Apple silicon, a hardened operating system, and unprecedented transparency measures, PCC sets a new standard for protecting user data in cloud AI services.
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