The US Consumer Financial Protection Bureau (CFPB) has tightened its grip on the booming Buy Now, Pay Later (BNPL) industry, classifying BNPL lenders as credit […]
Tag: CFPB
MAS Encourages Fit Notes, E-Hong Baos for Festive Gifting
The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have appealed to the public to use “Fit-for-Gifting” currency notes (fit notes) or e-hong baos this coming Lunar New Year.
Fed Approves United Community Bank’s Merger Application
The Federal Reserve Board has approved the application by United Community Banks, Inc., (United), Greenville, South Carolina, to merge with Progress Financial Corporation, and thereby indirectly acquire Progress Bank and Trust, both of Huntsville, Alabama.
American Household Financial Health Declining After Many Years of Increased Savings
Gen X and Baby Boomers account for 70% of the 84.7 million owner-occupied homes in the United States, so their plans for homeownership in retirement can greatly impact residential home inventory.
New data from Bank of America found that 70% of homeowners aged 45 to 76 plan to or have retired in the home they already own. Among those planning to stay in their homes when they retire, 78% see no reason to move, while 22% say they have put so much work into their home that they don’t want to move. In fact, 61% of Gen X and 69% of Baby Boomer homeowners have renovated or remodeled the home they currently live in, adapting them to fit their lifestyles.