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Category: Credit


Capital and Risk, Credit

5 Key Takeaways From the State of Commercial Banking

March 10, 2023

Via: Bank Director

In January, Q2 released the 2023 State of Commercial Banking Report, which analyzed data from Q2’s PrecisionLender proprietary database that includes commercial relationships from more than 150 banks and credit unions throughout the United States, along with other sources. Report […]


Capital and Risk, Credit

As credit unions push for diversity, politics start to push back

March 2, 2023

Via: American Banker

As more credit unions take steps to improve diversity, equity and inclusion, executives and other experts are debating how much progress has been truly made since the death of George Floyd in 2020. The culture war dominating the political news […]


Capital and Risk, Credit

CFPB Proposal Targets Limiting Credit Card Late Fees

February 8, 2023

Via: JD Supra

The Consumer Financial Protection Bureau (CFPB) recently issued a notice of proposed rulemaking to amend Regulation Z (the Proposal), which implements the Truth in Lending Act (TILA), to better ensure that late fees charged on credit card accounts are “reasonable […]


Capital and Risk, Credit

Study of Illinois 36% interest rate cap finds reduced access to credit

January 31, 2023

Via: JD Supra

Over the past few years, numerous states have imposed interest rate caps on consumer credit. In recent blog posts, we discussed the efforts of both Michigan and New Mexico to impose a 36% annual interest rate cap. Last year, Congress […]


Capital and Risk, Credit

UK mortgage lender LiveMore bags £250m credit facility from Citi

January 30, 2023

Via: FinTech Futures

The company says the new funding facility will enable it to increase loan originations and grow its portfolio as it looks to accelerate its growth. It also plans to expand its product offerings to include retirement interest-only mortgages, term mortgages […]


Activity, Capital and Risk, Credit, Retail Banking

Frost Bank to offer home loans after more than 20-year hiatus

January 12, 2023

Via: Banking Dive

San Antonio-based Frost Bank prides itself in its ability to offer its customers services they want, Blair McGrain, the bank’s chief marketing officer attests. That’s why the $52.9 billion-asset institution is bringing back a product it hasn’t offered since 2000: […]


Capital and Risk, Credit, Regulations

CFPB, New York AG sue auto lender Credit Acceptance for deceiving borrowers

January 4, 2023

Via: American Banker

The Consumer Financial Protection Bureau and New York’s attorney general sued subprime auto lender Credit Acceptance Corp. Wednesday for deceiving borrowers about the true cost of car loans, violating state usury laws and failing to disclose charges and terms to […]


Capital and Risk, Credit

Credit-quality pitfalls that bankers should watch in 2023

December 29, 2022

Via: American Banker

Fears are simmering that inflation (and aggressive interest rate hikes to fight it) could push the economy into recession in 2023. Historically, the combination has indeed caused economic turbulence. The Federal Reserve this year lifted rates multiple times. Collectively, they […]


Capital and Risk, Credit

Rocket Mortgage Introduces Purchase Plus, Helping Make the American Dream of Homeownership More Attainable

December 27, 2022

Via: PR Newswire

Rocket Mortgage, part of Rocket Companies (NYSE: RKT), today introduced Purchase Plus, a special purpose credit program intended to increase accessibility to homeownership in underserved communities. The new initiative offers up to $7,500 in credits for first-time homebuyers to use […]


Capital and Risk, Credit

U.S. credit card delinquencies to rise next year, TransUnion says

December 14, 2022

Via: American Banker

U.S. credit card and personal-loan delinquencies are likely to rise in 2023 to the highest in a dozen years, with lenders cutting back on originations as a potential recession looms. Serious card delinquencies are expected to climb to 2.6% at […]


Capital and Risk, Credit

How Smaller Banks Can Prepare for Climate-Related Credit Risks

December 8, 2022

Via: Bank Director

In 2021 and 2022, the nation’s financial regulators began sharing their future expectations for banks related to the growing concern of climate risk. Their particular emphasis is focused on the impact of climate change on an institution’s credit risk. While […]


Capital and Risk, Credit

Proactively Managing Credit Reporting Data

December 7, 2022

Via: Bank Director

The mandate that credit furnishers, like banks, provide accurate account data to credit reporting agencies can be overwhelming. This information is disclosed in files that follow the standard electronic data reporting format called Metro 2®. To manage this tremendous task, […]


Capital and Risk, Credit, Regulations

CFPB Focuses on Junk Fees, Credit Reporting, and COVID-19 Relief Funds in Latest Supervisory Highlights

November 18, 2022

Via: JD Supra

On November 16, the Consumer Financial Protection Bureau (CFPB) released a new Supervisory Highlights report, focusing on the auto servicing industry, consumer reporting, mortgage servicing, and COVID-19 relief funds. The report highlights the CFPB’s continued focus on so-called junk fees […]


Capital and Risk, Credit

Regional banks say they can handle any looming credit hiccups

November 3, 2022

Via: American Banker

Regional banks are preparing for a looming economic downturn, but they don’t seem too concerned that their balance sheets will take a major hit. At an industry conference Thursday, executives at PNC Financial Services Group, Regions Financial and M&T Bank […]


Capital and Risk, Credit

U.S. Eagle Federal Credit Union Releases New Cashback Debit Card

October 6, 2022

Via: PR Newswire

After announcing their cashback METAL Credit Card in June, U.S. Eagle released their newest card today: The brand-new U.S. Eagle CashBack Debit Card. Members receive cashback each time they use the new debit card. That is unlimited cashback, credited directly […]


Capital and Risk, Credit

Finance Lenders: It’s Time To Pay Your Annual Assessment

October 4, 2022

Via: JD Supra

The California Financing Law requires each licensed lender, broker, and program administrator licensee to pay its pro rata share of all costs and expenses of the administration of the law, as estimated by the Commissioner, for the ensuing year and […]


Capital and Risk, Credit

U.S. Bank Increases Prime Lending Rate to 6.25 Percent

September 22, 2022

Via: Yahoo

U.S. Bancorp (NYSE: USB) announced it has increased its prime lending rate to 6.25 percent from 5.50 percent, effective tomorrow, September 22, 2022, at all U.S. Bank locations. About U.S. Bancorp: U.S. Bancorp, with approximately 70,000 employees and $591 billion […]


Capital and Risk, Credit, Regulations

House lawmakers add credit card competition bill

September 20, 2022

Via: Payments Dive

Like its Senate companion, the House bill seeks more card network competition as merchants fight for lower interchange — or “swipe” — fees. Those fees, typically around 2%, are what merchants pay to route transactions through the card giants’ networks. […]


Capital and Risk, Credit

North Dakota credit unions want their slice of the ‘resolution’ pie

September 9, 2022

Via: American Banker

The National Credit Union Administration continues to distribute recovered funds to credit unions across the country, but some in North Dakota believe they are being disregarded and deprived of more than $10 million. The NCUA Aug. 29 said it will […]


Capital and Risk, Credit

BofA, BMO push to close racial property ownership gap

August 31, 2022

Via: Banking Dive

Bank of America and BMO Harris are leaning into real estate aid with programs designed to close the racial property ownership gap. Bank of America launched two programs Tuesday — one to aid small-business owners and another aimed at future […]