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Tag: Credit card debt


Regulations

Senators probe allegations of JPMorgan ‘robo-signing’ in debt collection

February 8, 2022

Via: Banking Dive

JPMorgan on Monday refuted claims that it is robo-signing documents. Such allegations are “just false,” Tom Kelly, a spokesman for the bank, told Bloomberg on Monday. Trained employees review every affidavit before they are filed in court, and the bank […]


Capital and Risk, Credit

Wells Fargo Falls as It Ends Personal Credit Lines

July 8, 2021

Via: TheStreet

Wells Fargo said it would stop offering personal lines of credit and shutter those current accounts. The bank will no longer offer the product, which enabled users to borrow between $3,000 and $100,000 and was pitched as tool to consolidate […]


Capital and Risk, Credit

A shocking number of Americans don’t know whether they have credit card debt or not

June 27, 2019

Via: Market Watch

Americans need a credit check. A survey of more than 1,000 adults released this month from U.S. News and World Report reveals that Americans are extremely unaware of their credit card situation. Indeed, when asked “do you have credit card […]


Capital and Risk, Credit

This state is the most burdened by credit-card debt

December 11, 2018

Via: Market Watch

Where you live in the United States makes a difference when it comes to paying off credit card debt. It takes the average New Mexico household nearly twice as long to pay off their credit-card debt as it does households […]


Capital and Risk, Credit, Retail Banking

These are the 25 cities where people have the most credit card debt

March 6, 2018

Via: Market Watch

Credit card debt. It seems to be an inevitable part of life for many Americans. And, recent data suggests that it really is. According to the Federal Reserve, American credit card debt hit a record high in 2017, rising to […]


Capital and Risk, Credit

States that voted for Trump more likely to have growing credit-card debt

February 14, 2018

Via: Market Watch

American households are falling deeper into debt, reaching another all-time high last year of more than $1 trillion in outstanding revolving credit — also known as credit-card debt. That’s a 6% jump from the year before and a 20% increase […]


Capital and Risk, Credit

One sure-fire prediction for 2018: Americans will take on even more debt

December 18, 2017

Via: Market Watch

Perhaps Americans should add “paying off debt” to their New Year’s resolution lists. This year marked an unwelcome milestone for consumers, with credit card debt reaching a new high. As of June 2017, Americans owe a record $1 trillion on […]


Capital and Risk, Credit

10 Surprising Reasons Why More Americans Have Credit Card Debt

December 1, 2017

Via: GOBankingRates

When used responsibly, credit cards are a useful addition to your wallet. They’re not only safer than cash, they can also build your credit rating. And some cards include a rewards program, helping you save money on future purchases. But […]


Capital and Risk, Credit

What Highest Credit-Card Debt Since ’08 Crisis Means for the U.S.

December 23, 2016

Via: TheStreet

During the holidays, it’s comforting to know that U.S. consumers really, truly believe. If not in Santa Claus, at least in their ability to pay for the Christmas presents and other items charged on their credit cards. Americans now owe […]


Capital and Risk, Credit

Credit card debt could hit $1 trillion by the end of 2016

June 9, 2016

Via: Market Watch

With the economy improving and driving up consumer confidence, many people are spending more but shirking basic responsibilities like paying their credit card bills. If things continue at this rate, U.S. households will accumulate $1 trillion in outstanding debt by […]