Tag: credit

May 5, 2020

S&P Global Ratings revised its outlook on the ratings of 13 U.S. banks to negative from stable and said the coronavirus pandemic will hit hardest those lenders that are most exposed to industries such as commercial real estate and consumer […]

March 26, 2020

Regulators are pushing for banks, credit unions and savings associations to provide consumers and small businesses with loans to help offset the financial burden caused by the coronavirus national emergency. The Board of Governors of the Federal Reserve System, Consumer […]

March 17, 2020

The Federal Reserve on Tuesday took another step to try and prop up the American economy, saying it would begin buying up a type of short-term debt companies use for funding, known as commercial paper, to help keep credit flowing […]

February 11, 2020

Americans are more confident about their ability to take out credit than they were a year ago, according to the latest Survey of Consumer Expectations from the New York Federal Reserve. A year ago, more consumers believed they would have […]

February 7, 2020

Nautilus closed a five-year, $70 million senior secured credit facility comprised of a $55 million asset-based revolver loan and a $15 million term loan with Wells Fargo as administrative agent. According to a related 8-K filing, the company will use […]

January 31, 2020

Griffon amended its revolving credit facility, increasing the size from $350 million to $400 million and extending the maturity from March 22, 2021 to March 22, 2025. Bank of America acts as administrative agent under the new credit facility, which […]

January 22, 2020

On the Road Lending has received a loan of up to $10 million from the Goldman Sachs Urban Investment Group to fuel expansion of its successful initiative across underserved communities throughout the Southeastern U.S. On the Road Lending helps clients […]

January 16, 2020

Since the National Consumer Assistance Plan went into effect in 2017, public records must meet strict requirements to appear on consumer credit reports. Civil judgments and tax liens do not meet these new requirements, so they were removed from credit […]

January 15, 2020

Americans’ credit scores continue to improve. But credit scores don’t tell the whole story of how consumers are faring financially. A new report from Experian EXPN, +1.46% found that the average FICO Score in the U.S. reached an all-time high […]

January 2, 2020

The history of credit and lending to business customers dates right back to Mesopotamia when the very first payday loans were used by farmers and the code of Hammurabi defined how the interest charged on silver loans was to be […]

December 30, 2019

The past year saw digital lenders enhance their product suites beyond credit, as big banks focused on adding features to their digital platforms to keep customers in their ecosystems, S&P Market Intelligence reported in a December research note. Lenders move […]

December 26, 2019

Alliance Data Systems reduced the aggregate revolving credit commitments from $1,072.4 million to $750 million. Following the repayment and amendment, Alliance Data’s outstanding term loan balance is $2,028.8 million. The company also completed an upsized placement of $850 million in […]

December 13, 2019

Telesat Canada amended its secured credit agreement, providing for a new term loan facility of $1.909 billion and a new revolving credit facility with commitments of $200 million, which replaced the existing term loan and revolving facilities. The revolving credit […]

December 6, 2019

It could become easier for some personal-loan applicants to secure a loan after federal regulators announced this week that they encourage the use of “alternative data” in credit underwriting standards — so long as it’s done responsibly. The Federal Reserve […]

November 11, 2019

On Friday, David Heinemeier Hansson, a prominent technology entrepreneur, complained to his 355,000 Twitter followers that the Apple Card is “such a fucking sexist program” because its “black box algorithm thinks I deserve 20x the credit limit she [his wife] […]

June 6, 2019

People buying a new vehicle are borrowing more and paying more each month for their auto loan. Experian, which tracks millions of auto loans each month, said the average amount borrowed to buy a new vehicle hit a record $32,187 […]

May 28, 2019

The average U.S. credit score hit 680 in 2018, up from 675 the year before, the report found. That’s the biggest one-year jump since 2008, but not quite back to the 685 average that year as the 2007-09 recession deepened. […]

May 15, 2019

U.S. Bank welcomes spring with the launch of a comprehensive suite of industry-leading digital tools that will benefit homeowners – simple, smart and secure digital applications for home mortgages, home equity loans and home equity lines of credit, or HELOCs. […]

May 7, 2019

Clarus terminated its asset-backed credit facility and entered into a new $100 million cash flow credit facility, which includes an uncommitted $50 million accordion with JPMorgan Chase. Under the terms of the new senior secured credit agreement, Clarus has access […]

March 20, 2019

The European Central Bank this month said it would keep record-low interest rates for longer. The news comes shortly after the U.S. Federal Reserve gave in to the stock market and held off on further interest-rate increases. While investors celebrate […]