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Consumer Compliance - Banking Exchange
COVID-19 has caused significant numbers of people to want to limit social contact in public places for the time being
The COVID-19 pandemic has upended virtually every aspect of life for American consumers
No new exposures to the legacy lending reference rate will be permitted after December 31
One in ten U.S. adults are credit invisible, or have no credit at all
US regulator assesses $250 million penalty and places restriction on bank’s future activities
The association objected a bill proposed with the intention to increase credit union memberships
At the end of the day, consumer behaviors drive the biggest change
Several banks including JP Morgan and Bank of America have already come under scrutiny
Bank of America ranks highest in banking mobile app satisfaction, reports JD Power
Federal Reserve data noted the lack of demand for small business loans even while noting that consumer demand is on the increase
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