Category: La Finca

In this post, analysts from the New York Fed’s Center for Microeconomic Data (CMD) explore the relationship between credit card delinquency and changes in credit card utilization rates.

Taking a close look at the underlying data, the author suggests that the moderation in food inflation seen since 2023 is due to a retreat in commodity prices, a trend that has offset still-high wage inflation for grocery workers.

High prices and rising debt put pressure on household budgets this year, so it’s little wonder that the most-read Liberty Street Economics posts of 2024 dealt with issues of financial stress: rising delinquency rates on credit cards and auto loans, the surge in grocery prices, and the spread of “buy now, pay later” plans.

Global central banks and finance ministries hold an immense amount of U.S. dollar assets in their foreign exchange reserves, but the dollar’s overall share of those portfolios has decreased in recent decades.

In this post, the authors shed light on the function of “buy now, pay later” (BNPL) plans in users’ household finances, focusing on how usage varies by level of financial fragility. 

Although most economists and policymakers tend to focus on the decline in inflation (the change in prices), a large share of households—especially low-income households—remain focused on still-elevated prices and the resulting difficulties paying expenses. 

“Large credit card issuers too often play a shell game to lure people into high-cost cards, boosting their own profits while denying consumers the rewards they’ve earned.”

Drivers had to follow a complex process to access their funds, and when they finally did, they faced further delays or fees if they needed to transfer the money they earned into an account of their choice.

Rocket Homes pressured real estate brokers and agents not to share valuable information with their clients concerning products not offered by Rocket Mortgage, such as the availability of down payment assistance programs, which often save homebuyers thousands of dollars.

Since 2000, the number of trucks from Canada have been decreasing while in contrast the number of trucks from Mexico have increased.

The CFPB’s lawsuit describes how hundreds of thousands of consumers filed fraud complaints and were largely denied assistance, with some being told to contact the fraudsters directly to recover their money.

The report covers violations related to student loan refinancing, private lending and servicing, debt collection, and federal loan servicing.

When borrowers default on their federal student loans, the U.S. Department of Education (ED) can collect the debt. It can use forced collections, including tax refund and Social Security benefit offsets, and wage garnishment.

Today, the Consumer Financial Protection Bureau (CFPB) sued Experian, the nationwide consumer reporting agency, for unlawfully failing to properly investigate consumer disputes.

Take some time to review the privacy settings on your social media platforms and limit the amount of personal information you share publicly.

The agency’s final rule on overdraft fees applies to the banks and credit unions with more than $10 billion in assets that dominate the U.S. market.

The CFPB found that Performant delayed borrowers’ loan rehabilitation processes, generating fees for itself and costing individual borrowers thousands of dollars.

The CFPB sued Climb Credit for offering loans for educational programs that often were not vetted for quality and job placement success or that failed the vetting, despite Climb Credit making representations to the contrary.

The Consumer Financial Protection Bureau (CFPB) is distributing $1.8 billion to 4.3 million consumers charged illegal advance fees or subjected to allegedly deceptive bait-and-switch advertising by a group of credit repair companies including Lexington Law and CreditRepair.com.

The Justice Department, together with the Federal Trade Commission (FTC), today announced a civil enforcement action against Dave Inc. (Dave) and its co-founder, President, Chief Executive Officer and Chairman of the Board of Directors, Jason Wilk, for alleged violations of the FTC Act and the Restore Online Shoppers’ Confidence Act (ROSCA).

This webinar is designed for frontline service providers and program managers who want to know more about free filing options for the people they serve.

If the topic of Social Security comes up during a holiday get-together, we’ve put together 5 basic messages you can share with your loved ones.

U.S. District Judge Dolly M. Gee for the Central District of California found that there is a reasonable basis for believing that U.S. taxpayers who were paid by JustAnswer to answer questions as experts may have failed to comply with federal tax laws.

Regardless of the holiday, food-sharing and family gatherings are all part of seasonal traditions.

New Mexico is the nation’s second-largest oil and gas producer (behind Texas). It is the home to cutting-edge federal research and houses a busy port of entry through which a growing volume of goods passes from Mexico, the nation’s No. 1 trade partner.

On average, Social Security retirement benefits will increase by about $50 per month starting in January.

Examples of types of NBFIs include investment funds, pension funds, insurers, government-sponsored enterprises, and financial broker-dealers.

Dozens of jobs, local and abroad. Funding and grant opportunities. Many windows closing soon.

The report details how millions of student borrowers have received relief through new income-driven repayment plans, cancellation programs, and various adjustments and program automation processes.

Workplace policies are an important tool for employers because they ensure that procedures, protections and rights are clearly defined to all employees.

Households expressed more optimism about their year-ahead financial situations, while earnings and household income growth expectations both rose in November.

Shortly after the collapse of Silicon Valley Bank in March 2023, a consortium of eleven large U.S. financial institutions deposited $30 billion into First Republic Bank to bolster its liquidity.

The entity can either consent to supervision or contest the notice.

While Mexico has made gains, many of them stem from trade diversion rather than large-scale foreign capital relocation.

Overall, the evidence indicates that while large businesses have been leading in AI adoption, very small businesses have also had relatively high AI use rates during much of 2023 and 2024.