WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today released a report detailing the complex costs and fees that many consumers with health savings accounts are forced to pay. There were approximately 36 million health savings accounts in 2023 – holding more than $116 billion.
The United States Chamber of Commerce and other trade groups sued the Federal Trade Commission in the United States District Court for the Eastern District of Texas on April 24, in Chamber Of Commerce Of The United States Of America et al v. Federal Trade Commission et al, Case No. 6:24cv148.
In recent years, there are signs of increased involvement by financial institutions in the American health care system. Many medical procedures can be financed by Buy Now, Pay Later loans, medical credit cards, and other medical loans offered in conjunction with health care providers and facilities.
This month, we join the nation to celebrate Older Americans Month. It’s also the 10th anniversary of Pass It On, the FTC’s fraud education campaign for older adults.
Spoiler alert: The title of PYMNTS Intelligence’s new report, “Why 60% of Gen Z’s Live Paycheck to Paycheck” gives away a key finding. Six in 10 Generation Z consumers say it’s a challenge to make ends meet. The report, which was based on surveys with 3,405 U.S. consumers, found that many Gen Z consumers (those born between 1997 and 2006) appear to be having a tough time in the current economy.
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