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There is, in fact, substantial overlap between people who receive overdraft fees and those who use “buy now, pay later” products, according to Morning Consult data. In January, overdrafters were more than twice as likely as U.S. adults overall to have been users of BNPL services. → Read More
In recent weeks, President Joe Biden has attempted to shift the blame for higher prices away from his administration and toward large companies. The administration has specifically targeted oil and gas giants and meatpackers, saying that because they have little competition, they are able to pass higher costs on to consumers. Republicans maintain that the Biden administration's policies are… → Read More
Two departing Federal Reserve officials are leaving the central bank in a trickier political spot than it was in only a few months ago, just as new data shows flagging public trust in the institution. → Read More
Recent Morning Consult data indicates that three countries in particular might be a good bet to be among the first to fully embrace Bitcoin and other cryptocurrencies. → Read More
Eviction moratoriums and other housing protections are soon coming to a close, and monthly Morning Consult data suggests the adverse effects will fall disproportionately on Hispanic and Black adults. → Read More
While infrastructure negotiations have started and stalled in recent weeks, support for some kind of package resonates with about half of U.S. voters, new polling shows. → Read More
House Republicans on the Small Business Committee are pushing Treasury Secretary Janet Yellen to schedule a hearing in June with the panel as part of oversight efforts on the $900 billion COVID-19 relief bill that Congress passed in December. → Read More
While Biden’s plan faces a long road in Washington, it doesn’t appear to be a hard sell for the electorate. According to a new Morning Consult/Politico poll, 58 percent of voters say they support the package. → Read More
The Association for Digital Asset Markets is adding nine companies to bring its membership ranks to 25, according to an early look at the announcement provided to Morning Consult. → Read More
While raising the corporate tax rate to 28 percent from 21 percent will likely be heavily debated among policymakers in the coming weeks, a new Morning Consult/Politico poll finds that voters are mostly fine with increasing taxes on corporations to fund infrastructure improvements. → Read More
The Financial Stability Oversight Council is reviving the hedge fund working group, Treasury Secretary Janet Yellen said at the Financial Stability Oversight Council meeting Wednesday, as part of a Biden administration effort to increase scrutiny of nonbanks. → Read More
The dramatic unwinding of positions held by Archegos Capital Management forced banks to take billions in losses, leaving other investors pondering the same question: Who else could have been exposed? → Read More
While Republicans in Congress have balked at the overall price tag for Biden’s proposed package, new Morning Consult/Politico polling shows that the public — including Republican voters — overwhelmingly supports the legislation. → Read More
Nearly half of voters (44 percent) say that the current income threshold set in President Joe Biden’s $1.9 trillion stimulus proposal -- $75,000 a year for a single person -- should remain the same in future stimulus bills, according to the Morning Consult/Politico poll. → Read More
A new Morning Consult poll found that just over half of all voters (51 percent) said that the federal government should continue to spend to counter the negative impacts of the coronavirus pandemic, while a quarter said that the national debt should be reduced, even at the expense of further COVID-19 spending. → Read More
According to a new Morning Consult poll, many in the country — especially renters — have alarmingly insecure housing plans if they lost their current residence. → Read More
Key Democratic senators in the banking policy realm are pressing the Federal Deposit Insurance Corp. on the exclusion of the term “underbanked” from an agency report, a decision they say makes it difficult to understand a group of financially vulnerable people, and may have been driven by “political considerations.” → Read More
As the coronavirus pandemic roils the job market, millennials are increasingly deciding that their college experience isn’t worth the student debt they took out for it. Since the economic standstill brought by pandemic-related shutdowns, the unemployment rate has shot up to 8.4 percent and initial jobless claims rose to 870,000 for the week ending Sept. 19. And the relief to consumers offered… → Read More
More than half of voters (52 percent) said they would describe the current U.S. economy as “recovering,” compared to 33 percent who said it’s “worsening.” → Read More
Overall, banks watched their net profits plummet 70 percent in the second quarter compared to the year-ago period, according to the Federal Deposit Insurance Corp.’s quarterly banking profile. But it’s a different story for community banks, which saw a small 3.2 percent increase from the same quarter last year. → Read More