April 17, 2024
Fed’s Beige Book Cites Weak Discretionary Spending
Eight times each year the Fed publishes what’s known as the Beige Book — a qualitative take from each of the 12 federal bank districts. The assessments cover everything from...
April 17, 2024
CFPB Finds Coding Bootcamp BloomTech Deceived Students About Loans, Jobs
The Consumer Financial Protection Bureau (CFPB) has issued an order against coding bootcamp BloomTech, also known as the Bloom Institute of Technology, and its CEO, Austen Allred, alleging that they deceived students about the real cost...
April 17, 2024
US Bancorp Interest Income Dips as Customer Caution Continues
U.S. Bancorp is forecasting a decline in net interest income for this year. In announcing its earnings Wednesday (April 17), the lender said it anticipates net interest income (NII) of $16.1...
April 16, 2024
Can Legacy B2B Payments Coexist With ISO 20022 Migration Strategies?
Traditional B2B payments, with end-to-end processes frequently characterized by delays and complexities, remain stubbornly intractable. But with the Federal Reserve Bank of Atlanta highlighting on Monday (April 15) that the Federal...
April 16, 2024
Banks Report Lending Slows as Corporate Borrowers Pay Down Debt
The largest U.S. banks are reporting a slowdown in lending. Bank of America and PNC were the latest to do so, with the former reporting Tuesday (April 16) that lending was “sluggish” and...
April 16, 2024
Earnings Season and FICO Data Point to ‘Strong’ Consumer Credit...
Earnings season, so far — and chiefly through the big banks — is pointing to some strength in consumer credit. And that strength has been measured through FICO scores detailed...
April 16, 2024
IDIQ Debuts CreditBuilderIQ as Consumers Feel Pinched
Financial intelligence company IDIQ has launched a platform that aims to help consumers build their credit scores. CreditBuilderIQ, announced Tuesday (April 16), joins the company’s suite of identity theft protection, credit monitoring...
April 15, 2024
CFPB Supports Connecticut Bill to Limit Reporting of Medical Debt
The Consumer Financial Protection Bureau (CFPB) has written a letter in support of a Connecticut bill that would prohibit healthcare providers in the state from reporting medical debt to consumer reporting agencies for...
April 15, 2024
US Retail Inventories Climb in February
Retail inventories climbed in February after being flat the prior month. According to the Commerce Department’s Monthly Retail Trade and Food Services report released Monday (April 15), inventories rose 0.6% month...
