August 09, 2023
Bank Loan Losses Hit Three-Year High at $19 Billion
American banks reported nearly $19 billion in loan losses during the second quarter. As the Financial Times reported Wednesday (Aug. 9), the $18.9 loan-loss rate is the highest in three...
August 08, 2023
RentRedi Expands With Acquisition of eRentPayment and PaymentReport
PropTech firm RentRedi has expanded with its acquisition of eRentPayment and PaymentReport. This acquisition is a major milestone for the venture capital (VC)-backed RentRedi, resulting in an expansion of its team, providing access to a...
August 08, 2023
Back-Office Overhaul Critical to Survival in Faster Payments Landscape, Says...
Just a few weeks after launch, FedNow is live. Miriam Sheril, Head of Product, U.S. at Form3, said that the initial interest and embrace by banks just a few weeks since the Federal...
August 07, 2023
PropMix Offers Appraisal and Mortgage Firms Keys to ‘AI Innovation...
Real estate and mortgage AI platform PropMix says it wants to help its sector modernize its products. To that end, the company on Monday (Aug. 7) debuted the “AI Innovation Garage for Appraisal...
August 07, 2023
Fed Says Consumer Credit Grew 4.3% in June
Consumer credit grew at a seasonally adjusted annual rate of 4.3% in June. Revolving credit decreased at an annual rate of 0.6% during the month, while nonrevolving credit increased by...
August 07, 2023
Regions Bank Debuts Business Bills, Communication Platform
Regions Bank has introduced new ways for business clients to manage customer billing and communications. The company announced Monday (Aug. 7) that its business clients now have access to customer communications management...
August 07, 2023
Fast Food Brands See Drastic Drop in Dine-In Orders
The typical McDonald’s dining area is a lonely place these days. The fast food giant hasn’t seen sales drop, but as The Wall Street Journal reported Monday (Aug. 7), most of those meals aren’t...
August 04, 2023
Analysts: July Jobs Report Suggests Possibility of Economy’s Soft Landing
Healthcare, social assistance, financial activities and wholesale trade led the country’s job gains in July. A total of 187,000 nonfarm payroll jobs were added during the month, the Bureau of...
August 02, 2023
Simon Property Banks on Strong Tenant Demand, Increasing Occupancy
Simon Property Group (SPG), the largest mall owner and developer in the U.S., posted strong second quarter (Q2) results on Wednesday (Aug. 2) amid headwinds from higher interest expenses. “Our...
