Student debt in arrears has hit record highs as measured by data gleaned from the Federal Reserve Bank of New York, Bloomberg reports. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
You know the story. Critics say that short-term, small-dollar loans push consumers into the hamster wheel of a never-ending debt cycle – one that turns a two-day bridge to cover a shortfall into a six-month mosh pit of fees that can become hard to dig out from...
The Federal Reserve revealed Monday (February 5) that an increasing number of banks have gotten stricter with the underwriting of some loans during the last quarter of 2018 and that they are bracing for loan demand and performance to decline. Get the Full Story Complete...
Student debt in America has grown to staggering proportions. By the end of 2018, 44 million Americans collectively held $1.5 trillion in debt related to the pursuit of education. Today around 70 percent of students graduate from college with some kind of student loan debt,...
For big bank loans taken out before April of 2018, prospects of repayment are good, federal banking regulators said on Friday (Jan. 25). However, the portion of loans owed by strongly leveraged borrowers is still high. Get the Full Story Complete the form to unlock...
The European Central Bank warned Tuesday (January 22) that eurozone banks are planning on tightening credit standards when it comes to business and housing loans during the first three months of the new year. Get the Full Story Complete the form to unlock this article...
Microlending – or small loans (less than a few hundred dollars) – has become a popular, buzzed-about method of poverty relief over the last few decades. As of 2013, there were 211 million micro-borrowers worldwide; as of 2018, that number was nearly 240 million. Get...
As Friday (Jan. 11) came and went and government workers affected by the 21-day shutdown didn’t receive paychecks, U.S. banking regulators asked lenders to help workers who couldn’t pay their bills or needed credit in the meantime, according to a report from Reuters. Get the...
LendUp has announced it is scaling its credit card business as a stand-alone company, Mission Lane. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily...
