Banks Lose Court Battle Over CFPB Rule to Collect Small Business Data
The federal judge rejected the challenge, which was backed by the American Bankers Association
The federal judge rejected the challenge, which was backed by the American Bankers Association
Study reveals 58% of consumers use cashback cards
Shifting risk composition caused greater risk credit cards to be issued
Gen Z faces financial dependence with 52% not earning enough for their desired lifestyle
Consumers are also cutting back on essential and nonessential spending to cover costs
Growth attributed to increased demand for convenient and flexible payment methods
Figures included 35% who believe they will never achieve financial security
Customer spending has continued to rise, while repayments decline
Group says banks and fintech firms will struggle with changes to personal financial data rights
CFPB estimates the proposed rule will result in 22,000 additional mortgage approvals
