October 18, 2023
Microcredit Puts Loans Within Reach of Emerging-Market Consumers
From buy now, pay later (BNPL) to credit card installments, there are diverse credit and lending products available to consumers today. However, for two-thirds of the world’s population, particularly in...
October 17, 2023
Goldman Sachs Reports Q3 Earnings of $11.8 Billion
Goldman Sachs reported its third-quarter earnings for 2023 on Tuesday (Oct. 17). The company achieved net revenues of $11.8 billion and net earnings of $2.1 billion. The firm’s focus on...
October 17, 2023
FTX Proposes Returning 90% of Customer Funds
FTX has proposed a settlement that gives creditors more than 90% of their funds. The proposal, announced late Tuesday (Oct. 16), is set to be filed with the U.S. Bankruptcy Court in December...
October 16, 2023
40% of Millennials Tap Installment Plans to Improve Their Credit...
Installment plans have emerged as a popular payment method, offering consumers the flexibility to pay for their purchases over time, rather than upfront. This enables them to manage their finances...
October 16, 2023
Jack Henry Debuts Defense Against Money Laundering
FinTech company Jack Henry has introduced a new tool to help banks combat fraud. The firm’s Financial Crimes Defender, announced Monday (Oct. 16), is a cloud-native, real-time fraud and anti-money laundering (AML) tool...
October 12, 2023
Nearly 1 in 5 High-Debt Consumers With Credit Score Issues...
Consumer credit card debt in the United States has surpassed the $1 trillion mark, leading to heightened concerns about credit insecurity among both consumers and providers. Against that backdrop, many...
October 12, 2023
LendingClub Cutting 14% of Workforce as Interest Rates Pressure Marketplace
LendingClub is laying off 172 employees — about 14% of its workforce — to reduce costs and navigate the “challenging macroenvironment.” The move will result in savings of about $30 million...
October 12, 2023
Report: Goldman Sachs Earnings Hit by Slowdown in Deal Making
Goldman Sachs is reportedly expected to announce weak quarterly earnings on Tuesday (Oct. 17) as a result of a slowdown in deal making and its withdrawal from the consumer business....
October 11, 2023
US Banks Brace for Surge in Bad Debt Write-Offs
The largest U.S. banks are reportedly bracing themselves for a surge in bad debt write-offs, the highest since the early days of the pandemic. JPMorgan Chase & Co., Citigroup, Wells...
