The US Consumer Financial Protection Bureau (CFPB) has published a report highlighting the risks of employer-driven debt poses to its workers, descriing the growing prevalence of employer-driven debt and challenges workers face when they are indebted to an employer as a condition of employment. CFPB Director Rohit Chopra said such debts are suppressing wages and binding workers to their jobs in the U.S.

The Consumer Financial Protection Bureau has sued the Utah-based lease-to-own finance company Snap Finance for allegedly deceiving consumers and making false threats, according to a release by CFPB. The Consumer Financial Protection Bureau (CFPB) claims that Snap Finance promoted and facilitated millions of "lease-purchase" and "rental-purchase" financing agreements in ways that have harmed customers in a lawsuit filed in federal district court.

The Federal Reserve Bank of Richmond's Community Conversations team visited Summerville and Chesterfield counties in South Carolina, where leaders discussed the difficulties faced by companies in finding skilled workers, as well as housing shortages. Martin said it's too soon to judge the program's performance because it only recently began. Nevertheless, one of the participating teachers has already ignited her son's interest, and he has applied to the company's apprenticeship program.

The Federal Reserve has launched its instant payments system, the FedNow Service, which allows banks and credit unions to instantly transfer money for their customers at any time of the day, any day of the year. As of right now, 35 early adopting banks and credit unions, as well as the Bureau of the Fiscal Service of the U.S. Department of the Treasury, are prepared to accept instant payments through the FedNow Service.

The Consumer Financial Protection Bureau, the U.S. Department of Health and Human Services, and the U.S. Department of Treasury started an investigation into high-cost specialty financial products on July 7, 2023. These products include medical credit cards and installment loans, which are pushed onto patients as a way to pay for routine medical care but actually increase health care costs and medical debt.

Federal Reserve Bank of Kansas City's Tenth District's energy activity remains in decline but that's expected to continue to slow, the bank announced in a news release issued last week

Federal Reserve Bank of Minneapolis' new associate vice president of policy brings "civic-focused policy experience" that will help lower income in the U.S. West and Midwest, a senior vice president said in a news release

The central bank of Australia determined on July 18, 2023, to maintain the current level of interest rates. The current course of action was obviously restrictive and there was a chance that a strain on household finances may trigger a severe downturn and rising unemployment.

Bank of America recently was ordered to pay more than $100 million to customers for practices deemed illegal by the Consumer Financial Protection Bureau.

The Federal Reserve Bank of St. Louis' president and chief executive officer, James Bullard, said on July 13 that he would be stepping down on Aug. 14. On Aug. 15, he will take over as the first dean of the Mitchell E. Daniels Jr. School of Business at Purdue University.

On July 17, 2023, the Reserve Bank board announced it had kept official interest rates steady for a fortnight out of concern that further increases would result in an unanticipated rise in unemployment by year's end. The RBA board's July 4 meeting minutes reveal fears that raising interest rates will compel families to save more and probably have a detrimental impact on a labor market that has been thus far robust, according to a recent report by ABC Australia.

The Federal Reserve Bank of New York's Innovation Center of Monetary Policy recently conducted a proof of concept study in collaboration with the U.S. financial services sector. According to a report by the Federal Reserve Bank of New York, the center explored the feasibility of a theoretical payment system using a shared distributed ledger.

A summons has been issued to property owners in South Australia's Mid North for thousands of dollars in unpaid council rates, some of which date back nearly 17 years. The Northern Areas Council made a demand for these rates on June 12, 2023.

Last month the Federal Open Market Committee (FOMC) voted to put a hold on increasing interest rates after increase the rate 10 straight times. This was an effort to give policymakers proper time to evaluate the nation's economy, according to a report by Business Times.

According to San Francisco Federal Reserve Bank President Mary Daly, two additional interest rate increases in the United States this year are a "very reasonable" estimate.

Shayne Elliott, CEO of ANZ, recently testified before a parliamentary committee, using statistics to refute the notion that consumers are passively making their loan payments in the face of rising interest rates.

The Federal Reserve recently reported that, in preparation of the FedNow Service's anticipated launch in July 2023, 57 early adopter firms had successfully completed formal testing and certification.

The Reserve Bank of Australia recently announced that it is holding its interest rates at 4.1% this month, but that doesn't mean will stay steady in the future as the bank's board sees additional rate increases coming. According to a report by the Australian Broadcasting Corporation, in May of last year the cash rate objective was 0.1% in May of last year.

The Federal Reserve Bank of Richmond recently announced that it financial decision makers are expecting the U.S. economy to have less growth than initially expected. According to the report on June 28, nearly 40% of small businesses are anticipating less business spending due to tighter financing.

Federal Reserve Chair Jerome Powell said at a recent Congressional hearing that he thinks digital assets are showing sustainability as an asset class in the U.S.