Federal Reserve Publishes Consumer Finances Survey

The Federal Reserve Board has released the results of its 2025 Survey of Consumer Finances. This survey provides the public and policymakers with detailed insights into the economic condition of American families. The data from this biennial survey is a critical resource for understanding household balance sheets, income, and debt structures across various demographics [Federal Reserve Press Releases].

CFPB Highlights Financial Literacy and Complaint System Changes

The Consumer Financial Protection Bureau (CFPB) announced its support for the new National Strategy for Financial Literacy, published on October 2, 2026. This strategy aims to guide national efforts in building youth financial competency, fostering saving and investing habits, improving digital financial literacy, and educating consumers on fraud prevention [CFPB Newsroom]. Deputy Director Mark Paoletta previously addressed the Financial Literacy and Education Commission on this subject in July 2026 [CFPB Newsroom].

Earlier this year, the CFPB also addressed the integrity and utility of its consumer complaint system. In June 2026, the bureau announced it was correcting flaws to restore the system's effectiveness. Following this, in August 2026, the CFPB stated it would cease discretionary publication of complaint narratives and visualizations, a move aimed at further enhancing the system's reliability [CFPB Newsroom]. The bureau continues its work to ensure consumers are made whole in specific cases, such as those affected by Bilt's transition to a new bank partner [CFPB Newsroom].

FTC Warns Consumers About Emerging Scams

The Federal Trade Commission (FTC) has issued multiple consumer alerts regarding various fraudulent activities. A significant area of concern involves the misuse of artificial intelligence, specifically 'deepfakes.' The FTC provided guidance for victims of shared explicit images, including AI-generated deepfakes, and advised on reporting such incidents and platform failures to remove them [FTC Consumer Alerts]. Parents are also encouraged to discuss deepfakes and online safety with their children, particularly concerning 'nudify apps' and the 'Take It Down Act' [FTC Consumer Alerts].

As Open Enrollment approaches, the FTC cautioned consumers about health insurance scams, which typically increase during this period for Medicare and Marketplace plans [FTC Consumer Alerts]. Other alerts highlighted impersonation scams, including those targeting farmers by posing as farm equipment businesses and scammers spoofing car dealership websites [FTC Consumer Alerts]. Consumers are also advised to be wary of suspicious QR codes, which scammers are utilizing for fraudulent activities [FTC Consumer Alerts]. The FTC encourages consumers to report scams to aid in prevention efforts [FTC Consumer Alerts].

Federal Reserve Extends Comment Period for Regulation O Modernization

In related news, the Federal Reserve Board extended the comment period until November 4, 2026, on its proposal to modernize Regulation O. This regulation governs transactions between banks and their insiders, and the extension allows for further public feedback on the proposed changes [Federal Reserve Press Releases].