Gen Z faces financial dependence with 52% not earning enough for their desired lifestyle
Consumers are also cutting back on essential and nonessential spending to cover costs
Growth attributed to increased demand for convenient and flexible payment methods
Figures included 35% who believe they will never achieve financial security
Customer spending has continued to rise, while repayments decline
Group says banks and fintech firms will struggle with changes to personal financial data rights
CFPB estimates the proposed rule will result in 22,000 additional mortgage approvals
The new rules will outline the requirements for recognition in the industry
The first-of-its-kind bill bans the collection of interchange fees on taxes and tips
Consumer spending on credit cards and debit cards have only grown by 3.5% year over year
