NEW YORK, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Small business loan approval percentages at big banks ($10 billion+ in assets) fell again, dropping from 13.2% in August to 13.1% in September, according to the latest Biz2Credit Small Business Lending Index™ released today. Big bank lending to small businesses has dipped every month since June 2022.
On October 4, Seth Froman, the CFPB’s General Counsel and senior advisor to Director Chopra, delivered remarks at the New Jersey Citizen Action Education Fund’s Financial Justice Summit. He heralded the work and mission of the CFPB, and focused on the impact of medical debt.
The Federal Trade Commission (“FTC”) and the Consumer Financial Protection Bureau (“CFPB”) have filed a joint amicus brief in which they urge the U.S. Court of Appeals for the Second Circuit to reverse the decision of a New York federal court in Suluki v. Credit One Bank, NA.
Consumers are increasingly focused on finding the best deal — a preference driven by loss aversion and a desire to maximize the benefits of their financial products.
In today’s fast-paced digital world, financial institutions are constantly challenged to adapt and innovate to meet the evolving digital-first demands of consumers.
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