Pandemic relief improved many consumers’ finances in 2020 and 2021, but in 2022 financial stability and health deteriorated across a range of measures. Using the 2023 Making Ends Meet survey, we show that in 2023 consumers were still on average somewhat better off financially than they were in 2019 but the trend is negative. Financial well-being was unchanged between 2022 and 2023 but more families had difficulty paying their bills. Income variability declined in 2023 but remains higher than in 2019.
BOSTON — Attorney General Andrea Joy Campbell has announced a $8.75 million settlement, via an assurance of discontinuance (AOD), with Rent-A-Center (RAC), to resolve allegations that the company engaged in a pattern of unfair and deceptive business practices against consumers in violation of state consumer protection laws.
The Consumer Financial Protection Bureau has failed to account for credit unions’ mission and structure in its activities, a trend that has continued under Director Rohit Chopra, CUNA and NAFCU wrote to the Senate Banking, Housing, and Urban Affairs Committee. Chopra will testify before the committee Thursday.
HAUPPAUGE, NY (November 30, 2023) — Teachers Federal Credit Union, one of the largest credit unions in the United States with $9.7 billion assets and more than 470,000 members, is celebrating Giving Tuesday with the launch of its annual Season of Giving campaign, pledging $50,000 to three remarkable non-profit organizations – Memorial Sloan Kettering Cancer Center, Ronald McDonald House, and Tunnel to Towers Foundation.
I am pleased to share that the CFPB has reached important milestones on critical priorities, including personal financial data rights and credit reporting, while continuing to enforce the law and deliver results for consumers and law-abiding businesses. Today, I will share some observations about household financial stability and highlight our progress on important areas of work.
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