Sections
Consumer Finance
Consumer financing is when a business offers financing to their customers with help from a professional finance company. This allows the consumer to pay for a good or service they couldn't pay for up front in cash or credit card. Consumer finance is helpful for both businesses and consumers
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2.0KFICO’s Resilience Index Predicts Borrowers’ Risk During Economic Uncertainty
In an effort to keep credit flowing amid uncertain economic conditions, FICO has unveiled its FICO Resilience Index. The tool is meant to...
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6.9KMicrosoft Expands Personal Finance Offerings With New ‘Money In Excel’ Product
Microsoft’s newest frontier may just be your household budgeting process. Microsoft is pushing deeper into personal finance, having just announced the launch...
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3.7KIRS: Stimulus Card Isn’t Junk Mail
The Internal Revenue Service (IRS) wants to make sure you don’t throw out your prepaid $1,200 government stimulus debit card. Many people...
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2.1KSoFi Sees Investor Accounts Double Thanks To Fractional Shares
The CEO of SoFi, the digital personal finance company based in San Francisco, said its investor accounts have doubled this year, mostly due to fractional...
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3.2KEuropeans Save Less, Spend More As Economy Lags
European consumers are stockpiling savings as a way to be prudent during the pandemic, but that isn’t having a positive effect on...
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5.6KSpending Down 40 Pct Among JPMorgan Chase Cardholders
New research from the JPMorgan Institute shows that Chase cardholders are spending less amid the coronavirus pandemic, with a 40 percent drop...
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3.3KHave We Seen The Bottom Of The Student Loan Delinquency Crisis?
Long before the advent of the COVID-19 epidemic and the litany of financial and economic disruptions brought in its wake, the student...
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4.8K1 In 4 US Cardholders Saw Credit Limit Cut Over The Last Month
Nearly 50 million credit card customers in the U.S. said they have had their credit limit slashed or their card closed in...
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4.5KNY, CA Governors Push For Tighter State Financial Regulation
New York and California governors are concerned about careless federal supervision of the financial sector and are advocating for increased state regulatory...
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3.1KInDebted Notches $14M To Use Machine Learning In Debt Collection
The Australian FinTech InDebted announced it has raised A$14 million ($9 million) in its Series A funding round, co-led by venture capital...
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6.3KLendingClub President: FICO’s New Model Won’t Save A Credit Scoring ‘Dinosaur’
In lending, in determining whether credit is likely to be repaid by a borrower, the devil is in the details. What if...
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6.9KVerizon Partners With Synchrony On Credit Card Offering
Verizon is partnering with financial firm Synchrony to put out its own consumer card in the first half of this year, they...
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5.2KFICO’s New Scoring Algorithm Promises Big Swings In Consumer Scores
Might the rising tide of debt slow to a trickle? If so, the U.S. consumer will likely find harder times ahead, if...
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3.4KPersonal Loan Growth Hints At Strategy Vs Credit Card Debt
Call it a case of six of one, half dozen of the other. Call it a case of financial alchemy. Call it...
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3.0KAmex’s Revamped Green Card Expands Rewards For Travel, Transit, Dining
American Express has announced that it has reimagined its American Express Green Card to include new benefits and features. Now called Green...
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5.8KSquare Cash Offers Free In-App Stock Trading
The popular Cash app, owned by Square, now has the ability for users to buy and sell stocks. CNBC is reporting that...
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3.9KWhy Simple And Instant Is The Secret To Making Rebates Truly Rewarding
Rebates and cash-back offers sound great in theory — the customer purchases something they wanted anyway, and get a small incentive payment...
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2.4KCredit Evolution: From Coin To Card And Back Again
It’s hard to imagine a world without credit cards. After all, there were close to 480 million of them being used by...
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2.6KSurvey: Teens Slated To Spend Lowest Amount Since 2011
New data has found that American teens are estimated to spend $2,371 per year — the lowest level for the age group...
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4.4KVocalink CEO: The Three Guideposts For Navigating Payments’ Evolution
The good news for customers — and the challenge for financial services players, both established and emerging as the decade comes to...
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2.5KCan Academic Data Ace The Credit History Conundrum?
The Catch-22 is a familiar part of the early life of many consumers looking to get credit for the first time. They...
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4.3KPlaid Adds Credit Card Data To Liabilities Product
Plaid said today (Sept. 18) that it is releasing new developer tools to combat credit card debt. The company launched its new...
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6.8KCracking Loan Fraud’s ‘Blind Eye’ Problem
Pretty much every consumer knows the pain of filling out applications for automotive loans, mortgages and other types of borrowing, of having...
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5.0KCFPB’s New Network Steps Up Financial Innovation Regulation
A network to better coordinate financial innovation among federal and state regulators is being launched by the Consumer Financial Protection Bureau (CFPB)...
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6.3KLendingClub CEO On Interest Rates, Credit … And The Bank Charter Quest
Interest rates are volatile, fears of a recession are spiking, central banks are cutting rates. In an interview with Karen Webster, LendingClub...
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8.4KCitibank Sees Credit Card Charge Offs, Delinquency Rates Spike
Citigroup reported that its July credit-card delinquency rate increased to 2.91 percent in July, up from 2.56 percent in June. The lender’s three-month average...
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2.1KThe Struggle To Make Tuition Payments On Time Is Real
The student debt crisis is no joke — loans considered to be in “serious delinquency” continue to increase, which is why it’s...
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3.2KChase Sapphire Card Creates Turbulence For United Airlines
As JPMorgan has enjoyed success with its Sapphire Reserve card that launched three years ago, the banking giant is also dealing with...
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3.9KCiti Revamps Rewards Program, Allows Cardmembers To Pay With Points
Citi has announced a new feature that allows qualifying cardmembers to shop and receive real-time alerts to redeem their ThankYou Points for...
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4.0KLendingClub President On Credit That Builds Savings
A fine line separates debt and savings (between the black hole of high-interest credit card payments and the slow progress of financial...
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4.5KUS Credit Card Rates Hit All-Time High
Americans are now paying the highest level ever on credit card interest rates — and that could have a negative impact on...
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5.0KKlarna Launches Money Management Content Hub
Furthering its mission to make payments easier for people so they can be financially healthy, Klarna, the U.K. payments company, announced the...
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7.3KHelping Millennials Live Financially Ever After
When Honeyfi got off the ground in 2017, it had a pretty simple idea. Couples could better manage their financial lives if...
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5.7KBofA Debuts Digital Financial Coach
Bank of America is gearing up to launch Life Plan, a digital portal that helps customers achieve financial goals, this fall. According...
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9.0KPressure Mounts On CFPB Over Public Service Loan Forgiveness Program
Launched in 2008 as a provision of the College Cost Reduction and Access Act (CCRAA), the Public Service Loan Forgiveness program’s objectives...
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Rhode Island Eyes Capping Credit Card Interest Rates
In the United States, credit card balances and the interest rates charged on those balances are on the rise. In the latest...
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6.5KSchwab Bets Big On Subscription-Based Investing
Investing and financial planning company Charles Schwab is moving from its current payment model to a subscription-based one that will provide more...
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4.3KTandem Bank Launches New Automatic Savings Account
U.K. challenger bank Tandem Bank is trying to make it easier for consumers to save by launching a new savings account. According to...
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6.0KExperian: Bank Card Default Rates Rise 3.48 Pct In Feb
New data has revealed that bank card default rates rose six basis points to 3.48 percent. S&P Dow Jones Indices and Experian...
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6.7KFCA Calls For Lenders To Curb ‘Unacceptable’ Fees
The Financial Conduct Authority (FCA), the U.K.’s financial watchdog, has found that some lenders are inflicting their credit card customers with an...
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7.2KUS Credit Card Balances End Year At $870B Record High
Credit card debt in the U.S. reached $870 billion at the end of last year, setting a record. Bloomberg, citing data from...
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7.4KOn Capitol Hill, Credit Bureau CEOs Say Reporting Changes Are In the Air
Lawmakers grilled the heads of Equifax, Experian and TransUnion, calling the credit reporting a “broken” system — and new legislation introduced this...
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8.1KAlipay Will Charge Fees For Repayment By Credit Card
Mobile payment company Alipay is going to start charging a fee of 0.1 percent to customers who use the service to decrease their...
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4.2KMoody’s: U.S. Household, Credit Debt Grow Modestly, Auto Delinquencies Decline
Moody’s Investors Service, an American Credit rating firm, has released its quarterly Pulse of Consumer Credit report, and in a report emailed...
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9.1KThe Making Of A Digital Subprime Marketplace
No one needs to be told that eCommerce is becoming a more important part of consumers’ daily lives. Any number of stats...
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8.2KPayday Loans, Pawnshops And Borrowed Credit Cards: How Many Americans Got By In 2018
When it comes to managing personal finances, consumers are seemingly taking one step forward and three steps back. For one thing, the...
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5.5KGoFundMe Crowdfunds For Furloughed Government Workers
It’s been 10 full days since government workers missed their paychecks due to the prolonged government shutdown, and one of the most...
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6.1KSWIFT Publishes Standard For Pay Later APIs
SWIFT announced Wednesday (Jan. 16) that it published a standard for the Pay Later APIs, which it said is a key step in...
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8.1KFiserv On Solving Cash Flow’s Crunch Digitally
Cash flow can make or break daily life for consumers or businesses. Not enough in your account? Plan on asking your landlord...
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4.1KReport: Minority Consumers Grapple With Debt
A new report has found that as debt rates have climbed to pre-recession levels, minority consumers are struggling to reach financial parity....
