Category: Saving & Banking
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A House bill would cut consumer bureau supervision to banks above $30 billion, up from $10 billion
A group of House Republicans introduced a bill this week that would redraw the line determining which banks answer directly to the federal government’s consumer watchdog. Right now, banks with more than $10 billion in assets are examined directly by the Consumer Financial Protection Bureau for how they handle overdraft fees, credit card terms and…
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The FDIC and four other regulators told banks they were never barred from warning a customer about fraud
Five federal bank regulators said this week that a rule banks have long pointed to as a reason they can’t explain a frozen or closed account was never the roadblock it was treated as. In a joint statement issued September 2, the Financial Crimes Enforcement Network, the Federal Reserve, the FDIC, the National Credit Union…
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A parent borrowing for college this year is locked into 9.07 percent for life
Federal Student Aid set new interest rates for the 2026-27 academic year in a June 4 announcement, and the numbers are steep across every loan category. A parent who takes out a Direct PLUS Loan to help cover a child’s tuition this fall will pay 9.07 percent for as long as that loan exists —…
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The Education Department will use Social Security disability records to find loans it can erase
The Department of Education published a notice on August 25 re-establishing a data-sharing arrangement with the Social Security Administration that flags federal student loan borrowers the SSA has already determined are disabled. Borrowers won’t have to track down a doctor’s certification or mail in a paper application to start the process — the match is…
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Uninsured deposits grew $317.4 billion last quarter, outpacing the money the FDIC covers
Money is flowing back into U.S. banks for an eighth straight quarter, and on paper that looks like a vote of confidence in the banking system. Look closer at the Federal Deposit Insurance Corporation’s Quarterly Banking Profile for the second quarter of 2026, released August 25, and the growth tells a narrower story: nearly all…
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The FDIC counts $326.7 billion in unrealized losses still sitting on bank balance sheets
Banks had one of their most profitable quarters in years this spring, and they still finished it holding $326.7 billion in paper losses on securities they haven’t sold. The Federal Deposit Insurance Corporation’s Quarterly Banking Profile for the second quarter of 2026, released August 25, shows that the exposure driving those losses hasn’t disappeared since…
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The FDIC says the average one-year CD pays 1.71 percent, far under the 5.65 percent ceiling
The Federal Deposit Insurance Corporation refreshed its monthly rate benchmark on August 17, and the gap it revealed is a familiar one for anyone who hasn’t shopped around lately. The national average one-year certificate of deposit currently pays 1.71 percent, while the regulatory ceiling for that same product sits at 5.65 percent — more than…
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Five American banks have failed in 2026, and a credit union with 183 members was liquidated this month
Two federally insured institutions went under this month, on opposite ends of the financial system, and neither event cost a single depositor or member a dollar. A small, newly chartered credit union in Missouri was shut down for unsafe operations, and a century-old Philadelphia savings bank became the fifth bank failure of the year nationwide.…
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The FDIC’s problem bank list fell to 47 as the deposit insurance fund reached $161.1 billion
Bank failures make headlines; the quieter numbers that predict them rarely do. The FDIC’s latest scorecard on the health of the banking industry, covering the second quarter of 2026, shows both sides of the ledger moving in a reassuring direction for anyone with money sitting in a checking or savings account. Fewer banks are flagged…
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Borrowers have until September 30 to turn on auto-pay and cut a federal student loan rate a full point
Federal student loan borrowers who still write a check or log in every month to pay their bill are missing out on a discount that their auto-pay peers are already banking. The U.S. Department of Education says that gap closes for good on September 30, when the deadline passes for new enrollees to lock in…
