Federal Reserve Releases 2025 Payments Study Findings

The Federal Reserve has announced the initial findings from its 2025 triennial payments study on July 1, 2026 [Federal Reserve Press Releases]. This study typically provides comprehensive data and analysis on noncash payments in the United States, offering insights into payment trends, innovations, and consumer behavior related to payment methods. The initial findings aim to inform policymakers, financial institutions, and consumers about the evolving payments landscape.

CFPB Addresses Consumer Complaint System and Bilt Issues

The Consumer Financial Protection Bureau (CFPB) has initiated efforts to correct flaws within its consumer complaint system. On June 24, 2026, the CFPB stated that the existing complaint portal has been hindered by issues limiting its effectiveness in resolving consumer complaints and the practical utility of its information [CFPB Newsroom]. The agency intends to restore integrity and utility to the system.

Separately, the CFPB has been working to ensure consumers affected by Bilt's transition to a new bank partner are appropriately remedied. CFPB officials met with Bilt to understand the challenges encountered during the transition and the actions taken by the company to assist affected customers [CFPB Newsroom]. This intervention aims to protect consumers experiencing disruptions due to financial service provider transitions.

New Joint Final Rule for Financial Data Reporting

On June 25, 2026, the CFPB announced a joint final rule focused on adopting uniform standards for reporting financial data [CFPB Newsroom]. This rulemaking initiative is intended to standardize how financial institutions report data, potentially leading to greater transparency and consistency across the financial sector. The enhanced data standards could benefit consumers by providing clearer insights into financial products and services.

FTC Advises on Scams During Military Consumer Month

Starting July 1, 2026, the Federal Trade Commission (FTC) is observing Military Consumer Month. The FTC emphasizes that discussing scams is crucial for prevention within the military community [FTC Consumer Alerts]. The agency highlights common schemes targeting service members and their families, advising vigilance against tactics designed to steal money and benefits. This initiative aims to educate and empower military consumers against fraud.