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Category: Credit


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 […]


Capital and Risk, Credit

Credit Suisse emerges as missing piece in neobank’s crumbled merger

August 22, 2022

Via: Banking Dive

If details seemed sparse in last month’s sudden disintegration of the proposed merger between neobank American Challenger and Patriot National Bank, one missing component, a court filing indicates, appears to be Credit Suisse. American Challenger sued Switzerland’s second-largest bank and […]


Capital and Risk, Credit, Regulations

CFPB investigating Goldman Sachs over credit card practices

August 10, 2022

Via: FinTech Futures

The banking giant says the regulator is examining its “credit card account management practices, including with respect to the application of refunds, crediting of nonconforming payments, billing error resolution, advertisements, and reporting to credit bureaus”. Goldman Sachs says it is […]


Activity, Capital and Risk, Corporate Banking, Credit

U.S. Bank Delivers Another Real-Time Payment Solution to Auto Dealers

August 9, 2022

Via: Yahoo

With another innovative RTP® Network solution, U.S. Bank can now provide loan funds to auto dealers instantly after the loan contract is finalized by the bank. Following a successful pilot completed in June, U.S. Bank has already enabled more than […]


Capital and Risk, Credit

Student Loans Come Due

July 11, 2022

Via: Bank Director

Just as the Federal Reserve raises rates and inflation hits a 40-year high, Americans with federal student loan debt will start making payments on the debt after a two-year pause. On Aug. 31, the Department of Education will require 41 […]


Capital and Risk, Credit

A credit union hired banking pros to take on Philly’s biggest lenders

July 7, 2022

Via: American Banker

The Philadelphia commercial lending market is dominated by large banks, but one credit union wants to grab its own piece of the pie. The $4.8 billion-asset Citadel Credit Union in Exton, Pennsylvania, plans to launch its new business banking division […]


Capital and Risk, Credit

Redlining Isn’t Just a Mortgage Loan Problem

June 29, 2022

Via: Bank Director

Redlining, or the practice of denying credit to residents of certain areas due to the high number of ethnic or racial minorities living there, is not a new problem. It’s also not limited to mortgage loans. For decades, many lenders […]


Capital and Risk, Credit, Regulations

CFPB Probes ‘Suppressed’ Credit Card Payment Reporting

June 1, 2022

Via: JD Supra

On May 25, the Consumer Financial Protection Bureau (CFPB or Bureau) published a blog post, examining what it describes as the “practice of suppressing payment data.” Per the blog post, the CFPB alleges that its research conducted in 2020 “uncovered […]


Capital and Risk, Credit

3 Ways to Drive Radical Efficiency in Business Lending

May 10, 2022

Via: Bank Director

Community banks find themselves in a high-pressure lending environment, as businesses rebound from the depths of the pandemic and grapple with inflation levels that have not been seen for 40 years. This economic landscape has created ample opportunity for growth […]


Capital and Risk, Credit

Thomas J Powell- 13 Common Mistakes to Avoid When Applying for a Small Business Loan

May 2, 2022

Via: TechBullion

When you’re running a small business, there’s always a need for extra funding. Whether you’re looking to expand your operations or just cover some unexpected expenses, a small business loan can be a great option says Thomas J Powell. However, […]


Capital and Risk, Credit

Different Types of Credit You Should Know

April 26, 2022

Via: TechBullion

Credit is money you borrow and use to buy anything from groceries to a new home, assuming you’d repay the lender later, usually at a fee. It’s acquiring things in life when you lack the financial means. You’re spending money […]


Capital and Risk, Credit

Credit unions seek injunction blocking enforcement of NY law reducing debt judgment interest rate

April 15, 2022

Via: JD Supra

Three credit unions have filed a federal class action lawsuit in the Southern District of New York seeking to halt the enforcement or implementation of New York’s recently passed S.B. 5724A which would retroactively and prospectively lower the statutory annual […]


Capital and Risk, Credit

Credit card late fees likely to keep climbing, CFPB says

March 29, 2022

Via: Payments Dive

The COVID-19 pandemic offered some relief when it came to the amount consumers forked over in credit card late fees, which account for more than half of the credit card market’s consumer fees, the CFPB report said. Prior to the […]