NEW YORK (Reuters) - Bank of America said Thursday that consumers' debit and credit card spending rose across all income brackets in April, although spending levels for lower-income customers appeared to flatten out in recent weeks.
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a notice of proposed rulemaking, which would implement a special assessment to recover the cost associated with protecting uninsured depositors following the closures of Silicon Valley Bank and Signature Bank. The Federal Deposit Insurance Act (FDI Act) requires the FDIC to take this action in connection with the systemic risk determination announced on March 12, 2023.
SEATTLE — Attorney General Bob Ferguson today filed a consumer protection lawsuit against two businesses and their owner for sending hundreds of thousands of deceptive texts and emails to Washington businesses and nonprofits.
I was especially interested in speaking to this group because of the growing significance of payments and payments-related legal and policy questions in the consumer financial ecosystem. Although the payments system has always been part of the critical infrastructure of the consumer financial marketplace, I think it’s fair to say that payments has not always been on the front page of newspapers around the globe as it is today.
Consumer frustration with illegal robocalls and robotexts has placed the FCC’s related regulatory scheme top of mind for regulators and legislators alike.
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