WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion to protect Americans from double dealing on digital mortgage comparison-shopping platforms. Companies operating these digital platforms appear to shoppers as if they provide objective lender comparisons, but may illegally refer people to only those lenders paying referral fees.
The House Financial Services Committee Subcommittee on Financial Institutions and Monetary Policy will review a discussion draft of a financial data privacy bill from U.S. Rep. Patrick McHenry, R-N.C., during a hearing Feb. 8.
Feb 3(Reuters) - A U.S. appeals court has revived a U.S. Consumer Financial Protection Bureau rule governing how providers of digital wallets disclose commonly used fees to prepaid customers.
Today, the U.S. Department of Education (Department) released new data estimating that more than 18 million students have received direct financial aid under the Higher Education Emergency Relief Fund (HEERF) since the start of 2021. Over that period, nearly 6 million community college students received direct financial aid, along with more than 450,000 students at Historically Black Colleges and Universities (HBCUs), more than 24,000 students at Tribally Controlled Colleges and Universities (TCCUs), and nearly 8 million students at Minority Serving Institutions (MSIs), such as Hispanic Serving Institutions.
Carrying thousands in credit card debt has become normal for many Americans. The average credit card balance is $5,589, according to a 2022 Experian report. Last year, total credit card debt in the US rose by $38 billion from Q2 to Q3, according to the Federal Reserve Bank of New York. With high inflation driving up the cost of everyday essentials, it's not surprising that some are turning to credit cards to finance purchases.
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