• CFPB Proposes Payday Loan Rule, NYDFS Hires Virtual Currency Chief, Borrowers Struggle with Debt, Truist Financial Reports Losses

  • Jul 22 2024
  • Duración: 4 m
  • Podcast

CFPB Proposes Payday Loan Rule, NYDFS Hires Virtual Currency Chief, Borrowers Struggle with Debt, Truist Financial Reports Losses Por arte de portada

CFPB Proposes Payday Loan Rule, NYDFS Hires Virtual Currency Chief, Borrowers Struggle with Debt, Truist Financial Reports Losses

Escúchala gratis

Ver detalles del espectáculo

  • Resumen

  • Welcome to Banking on Disruption Daily for Monday, July 22nd, 2024. I’m Fred Cadena. First up today, the US Consumer Financial Protection Bureau (CFPB) has proposed a new interpretive rule that mandates clearer consumer disclosures for payday loan advances under the Truth in Lending Act. Transparency in fees and practices is emphasized to prevent exploitative business models and enhance competition. In regulatory news, the New York State Department of Financial Services appointed Kenneth Coghill, formerly of Dubai’s regulatory body, as deputy superintendent of virtual currency. This move solidifies NYDFS's stance on leading cryptocurrency regulation, complementing the recent hiring of John Melican for similar roles. Shifting gears, despite a resilient US economy, individual borrowers face increasing financial strain from inflation and higher interest rates. Elevated mortgage and consumer debt interest payments are leading to record-high credit-card balances and rising delinquency rates, making homeownership and debt management more challenging for many Americans. Finally, Truist Financial Corporation reported a significant drop in net income due to substantial losses in its securities portfolio. The bank is taking strategic steps to address these financial setbacks and reassures investors of their underlying business strength and commitment to improving outcomes. Thanks for tuning in to Banking on Disruption Daily. Until tomorrow, this is Fred Cadena wishing you success in your digital pursuits.
    Más Menos
activate_primeday_promo_in_buybox_DT
Marketing Economía
Más Menos

Lo que los oyentes dicen sobre CFPB Proposes Payday Loan Rule, NYDFS Hires Virtual Currency Chief, Borrowers Struggle with Debt, Truist Financial Reports Losses

Calificaciones medias de los clientes

Reseñas - Selecciona las pestañas a continuación para cambiar el origen de las reseñas.

Reseñas de Audible.com

Opiniones de Amazon
No hay comentarios disponibles