WASHINGTON - (11/23/04) -- Increasing consumer confidence isexpected to result in greater holiday spending this season, eventhough many consumers intend to spend less, according to the annualspending survey issued Monday by CUNA and the Consumer Federationof America. "Over the five years we've been doing these surveys,our results reveal that holiday spending is an area where consumersstart out with the best of intentions, but end up exceeding theirbudgets," said Bill Hampel, chief economist for CUNA.. "Consumerson balance have told us they intend to reduce spending compared tothe previous year, but actual holiday spending subsequently rose.This year consumers are feeling a bit less restrained than lastyear, so spending should rise modestly." The survey found that 32%of consumers plan to spend less than they did last year, while 17%plan to spend more. Half of respondents said they pan to spendabout the same.
-
Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
8h ago -
The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
8h ago -
The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
9h ago -
Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
10h ago -
Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
10h ago -
A federal judge in New York has rejected Huawei's effort to toss charges alleging bank fraud, sanctions violations and trade secrets theft.
11h ago