More than three out of four respondents said the economic impact payments included in the CARES Act would either temporarily or significantly support them financially for the next one to two months. Over half have used their EIP funds to purchase necessities, pay down debt or pay rent or a mortgage.
To help financial institutions comply with consumer protection rules, the Federal Financial Institutions Examination Council today released two computational tools for annual percentage rates and annual percentage yields.
Consumer delinquencies rose in the fourth quarter of 2019, mostly due to increases in auto and home-related delinquencies, according to ABA’s Consumer Credit Delinquency Bulletin released today.
The Alternative Reference Rates Committee today recommended a spread adjustment methodology for cash products referencing the London Interbank Offered Rate.
The Alternative Reference Rates Committee today issued a consultation on draft fallback language for variable-rate private student loans that reference the U.S. dollar London Interbank Offer Rate.
Bankers left commercial and industrial lending standards mostly unchanged amid weakening demand in the fourth quarter of 2019, according to the Federal Reserve’s senior loan officer survey released today.
A solid job market and rising wages provide strong foundation for consumers to meet debt obligations.
Bank card delinquencies fell in the third quarter of 2019, although they rose in several closed-end loan categories, according to the American Bankers Association’s Consumer Credit Delinquency Bulletin released today.
The 2009 Credit CARD Act may have hindered young adults’ ability to build credit histories, according to a new paper released by the Federal Reserve Bank of Boston.