Category: Credit

March 29, 2022

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 […]

March 28, 2022

Wells Fargo trails, by 15 percentage points, the industrywide average acceptance rate for Black borrowers looking to refinance their mortgages, according to the Bloomberg analysis. Lenders overall approved 73% of applications from Black homeowners, compared with 78% from Hispanic borrowers […]

March 25, 2022

Kentucky’s General Assembly has become the only legislature so far this year to adopt a bill that could give insurers lower rates on commercial loans from the Federal Home Loan Bank system. The Kentucky Senate this week unanimously approved House […]

March 24, 2022

Bridge loans and private money loans are often confused by investors. Furthermore, if they are not clear on the difference between the two, there is the potential for a misinterpretation of which loan is ideal for their investment property. What […]

March 14, 2022

Buying Horizon would give Arizona Federal six new locations and help it expand into the western half of the Grand Canyon State. The bank held $539.5 million in assets, $259.9 million in loans, $471.7 million in deposits and $43.4 million […]

March 2, 2022

The “Mastercard Instalments with Pine Labs” programme will roll out to all DBS Bank and POSB Bank (a subsidiary of DBS) credit card holders in Singapore from March, with Indonesia and Hong Kong set to follow sometime in Q2 2022. […]

February 3, 2022

The CFPB recently released a new analysis of how changes in responses to consumer complaints provided by nationwide consumer reporting companies has resulted in less consumer relief. This analysis shows that in 2021 the big three credit reporting companies together […]

January 20, 2022

Declaring bankruptcy is a never-to-be-forgotten lesson. The hustle involved when filling the bankruptcy petition and the long period it takes to clear the negative information from your credit history could make you think twice. The hard choice could result from […]

January 18, 2022

Credit cards are one of the most lucrative tools for expenditure but it is up to the cardholders to decide how to use them in the best way. According to the recent figures, around 60 million Americans do not handle […]

January 14, 2022

JPMorgan Chase posted a decline in trading revenue that was steeper than analysts expected, and both commercial and consumer loans fell from a year earlier. Shares of the company dropped after the firm reported a 16% slide in fixed-income trading […]

January 11, 2022

Bank of America’s decision to slash its overdraft fee from $35 to $10 is likely to have ripple effects across the industry, analysts said, pressuring other banks to follow suit. On its face, the megabank’s announcement Tuesday appeared less aggressive […]

December 7, 2021

How would you feel about Congress snatching away your credit card or preventing you from participating in credit card reward programs? Don’t laugh. Left-wing groups in Washington are declaring that the plastic card in your wallet is the financial villain […]

December 7, 2021

In the middle of 2020, while some consumers were stockpiling essentials like water and hand sanitizer, many businesses were shoring up their cash reserves. Companies across the country were scrambling to build their war chests by cutting back on expenses, […]

December 2, 2021

The Utah Department of Commerce’s Division of Real Estate recently amended its Residential Mortgage Practices and Licensing Rules in order to correct and clarify references in the rule, and to coordinate certain state requirements with national requirements in order to […]

November 22, 2021

The CFPB recently released a report on Consumer Credit Disputes finding that consumers in majority Black and Hispanic neighborhoods had a disproportionally higher amount of disputes on their credit reports. The report indicates that this trend was across several credit […]

November 4, 2021

The Farm Credit Administration (FCA) last month issued a final rule governing the standards of conduct (SOC) of directors and employees of Farm Credit System institutions (System Institution). The rule excludes the Federal Agricultural Mortgage Corporation (Farmer Mac). The final […]

October 22, 2021

If you’re worried that you may not qualify for a loan, whether it’s due to either bad credit or a lack of credit history – don’t worry, you are not alone. If you have run up a few debts with […]

October 21, 2021

I started my banking career in the credit management training program of a regional bank, where I later became the head of corporate banking. Subsequently, I became a chief credit officer and, ultimately, the CEO and board chairman of a […]

October 19, 2021

Over 10 years after Congress brought competition to how in-store debit card transactions are processed, the Federal Reserve is finally seeking to clarify that the same rules apply to online debit transactions as well. The move has been strongly backed […]

October 1, 2021

In a long career focused on credit risk, I’ve never found myself saying that the industry’s biggest lending challenge is finding loans to make. But no one can ignore the lackluster and even declining demand for new loans pervading most […]