Consumer Credit - Banking Exchange

Consumer Financial Protection Bureau Investigating Overdraft Charges

The bureau is collating research on key customer service metrics from large banks

Data revealed credit unions have “continued to perform well” so far this year

Follows December’s overdraft report from bureau which considered additional policy guidance

The association objected a bill proposed with the intention to increase credit union memberships

Recent data shows a dramatic increase in commercial real estate loans in the first half of 2021

Many incumbent US banks are not structured for a new digital shift boosting opportunity for fintechs

Platform will help gig workers and contractors access government Covid-19 support

Further easing is expected but banks warn of a deterioration in loan performance

It has been a year of momentous change for the payments industry

The association objects to further capital raising flexibilities for large credit unions that already receive tax exemptions