ABA: Registration Open for ABA Foundation’s 2017 Financial Education Initiatives
ABA Foundation calls for banker volunteers to increase financial capability in local communities WASHINGTON — The American Bankers Association Foundation is calling for banker volunteers to register for Teach Children to Save and other 2017 financial education initiatives. Celebrating its 20th anniversary, the Teach Children to Save program is a national campaign that encourages banker volunteers to visit schools…
CFPB: TransUnion and Equinox Ordered to Pay for Deceiving Consumers in Marketing Credit Scores and Credit Products
Credit Reporting Companies Misstated the Cost and Usefulness of the Credit Scores and Products They Sold, Lured Consumers into Costly Recurring Payments WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today took action against Equifax, Inc., TransUnion, and their subsidiaries for deceiving consumers about the usefulness and actual cost of credit scores they sold to…
Federal Reserve: Payments Study Highlights Strong Trends in Card Use
Kansas City, Missouri, December 22, 2016 — From 2012 to 2015, credit and debit (including prepaid and non-prepaid) card payments continued to gain ground in the payments landscape, accounting for more than two-thirds of all core noncash payments in the United States, according to a Federal Reserve study of U.S. non-cash payments released today. Automated…
CFPB: Fair Lending Priorities in the New Year
We recently marked the 40th anniversary of the Equal Credit Opportunity Act, a federal civil rights law that protects you from being discriminated against by lenders. As the holidays approach and we prepare for a new year, I wanted to let you know about key areas where the CFPB’s fair lending team will focus in…
CFPB: Consumer Credit Trends Tool Unveiled to Help Forecast Potential Consumer Risks
Web-based Tool Will Deliver Regular Updates on Consumer Lending Markets WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today unveiled Consumer Credit Trends, a web-based tool to help the public monitor developments in consumer lending and forecast potential future risks. The beta version of the tool covers the mortgage, credit card, auto loan, and student…
ABA: Bankers Invited to Join New Ag Banker Network
New online discussion forum for ag lenders WASHINGTON — As ag bankers continue to seek ways to help their producer clients work through difficult economic conditions in rural America, the American Bankers Association invites bankers to join their peers in the ABA Ag Bank Network. The network is an online forum, available only to ABA…
CDFI Fund: Application Period for FY 2017 Bond Guarantee Program Open
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2017 application period for the CDFI Bond Guarantee Program. Application materials are available on the CDFI Fund’s website in anticipation of the publication of the Notice of Guarantee Authority (NOGA) in the Federal Register later this…
CFPB: Who Are the Credit Invisible?
In 2015, we published a report finding that 26 million Americans are “credit invisible.” This figure indicates that one in every ten adults does not have any credit history with one of the three nationwide credit reporting companies. The report also found that Black consumers, Hispanic consumers, and consumers in low-income neighborhoods are more likely to have…
ABA: ABA Sues NCUA Over Credit Union Field of Membership Rule
WASHINGTON — The American Bankers Association has filed a lawsuit against the National Credit Union Administration after the regulator finalized a rule that would unlawfully expand fields of membership for credit unions. The lawsuit, filed today in the United States District Court for the District of Columbia, will seek to overturn the NCUA rule. The rule disregards…