April 05, 2024
CFPB Monitoring Potential Risk of ‘Discount Points’ Paid by Homebuyers
The Consumer Financial Protection Bureau (CFPB) is monitoring the increasing payment of “discount points” by homebuyers and the potential risk this may pose to consumers. The percentage of homebuyers paying...
April 04, 2024
JPMorgan Chase Combines 3 Lines of Business Under Global Banking
JPMorgan Chase has announced a new organizational structure for its Global Banking (GB) business. The GB business now brings together the bank’s Commercial, Corporate and Investment Banking lines, according to a...
April 04, 2024
1 in 5 Low-Revenue SMBs Say No to Borrowing
Many small and medium-sized businesses (SMBs) adhere to lean business practices where decisions to borrow money must be weighed against an array of factors including objectives, revenue levels, cash flow...
April 04, 2024
Klarna Late Fees Spark Uptick in On-Time Payments
Klarna is reportedly sending fewer British customers to debt collectors after introducing late fees. The share of accounts in the United Kingdom using the Swedish company’s pay-in-3 buy now, pay later...
April 03, 2024
OCC Asks FIs to Offer Customers ‘High-Quality Financial Literacy Education’
This week, the Office of the Comptroller of the Currency (OCC) asked U.S. financial institutions (FIs) for their help in “improving the financial capability and financial health of their customers.” In a...
April 03, 2024
Scayl Raises $108 Million for FinTech Lenders
Debt financing platform Scayl has raised $108 million to lend to other European FinTech lenders. Billing itself as a “Fintech for Fintech Lenders,” Scayl said it helps clients fund their loan books...
April 03, 2024
Klarna Launches Page Comparing BNPL, Traditional Credit
Klarna has launched a new web page that shares data on its buy now, pay later (BNPL) offerings, including their repayment rates, late fee rates and consumer age demographics. This new Wikipink page...
April 03, 2024
ADP: Job Switchers See 10% Jump in Wages
ADP’s latest employment report shows a jump in raises for people switching jobs. While year-over-year pay increases last month for people who stayed at their jobs were flat after months...
April 03, 2024
VC Investors Face ‘Tough Math’ as Deal-Making Slows
Last year was the worst year for venture capital funding since 2016. So far, 2024 isn’t shaping up to be much better. Venture firms raised $30.4 billion from foundations, university endowments...
