The platforms that have banks embedded in their operations are taking more of their lending activities into a direct model, giving momentum to income streams well beyond the confines of peer-to-peer transactions. As had been reported last week, Block said that its Square Financial Services...
Block said Thursday (March 13) that its industrial bank, Square Financial Services (SFS), received approval from the Federal Deposit Insurance Corp. (FDIC) to offer the company’s consumer loan product Cash App Borrow. SFS will begin servicing and originating Cash App Borrow loans nationwide in the...
The pressures of mounting card debt, still-high interest rates and tightening underwriting threaten to expand the ranks of subprime borrowers — all the while making it harder for those consumers to improve their credit standings. In the report “Subprime Borrowers Flock to Alternative Options Due...
A six-figure income, a house in a nice neighborhood, two cars in the garage and kids in private schools — yet still feeling panicked when an emergency expense hits. And while the Fed once held out $400 as the average emergency expense threshold, that unexpected...
New data shows growing financial pessimism among Americans, the latest sign of shaky consumer confidence. The February installment of the Federal Reserve Bank of New York’s Survey of Consumer Expectations, released Monday (March 10), shows that while households’ medium and long-term inflation expectations were unchanged,...
Monday (March 10) marked another bloodletting on Wall Street, another slew of headlines about tariffs and trade wars. And as economic concerns mount, the picture on consumer debt becomes cloudier. PYMNTS reported recently that data from the Federal Reserve revealed overall credit increased $18.1 billion...
After a holiday spending frenzy, consumers have returned to a more normalized rate of spending, as measured in incremental borrowing on credit cards and other forms of debt. December saw a massive $37.1 billion increase in total credit, where revolving credit — the category that...
Treasurers are vital in transportation and logistics companies, managing liquidity and influencing financial health. But how often do companies underuse their expertise due to limited interdepartmental influence? Treasurers in this sector face barriers, including limited collaboration opportunities and a lack of understanding of their role. These...
While many Americans are cutting back, their wealthier neighbors are spending freely. As the Wall Street Journal (WSJ) reported late Sunday (Feb. 23), the top 10% of earners — households making at least $250,000 per year — are shelling out cash for things like vacations...
