Sections
consumer finance
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CFPBCFPB Payday Loan Changes Scrap Ability To Repay Requirement
Earlier this week, the Consumer Financial Protection Bureau (CFPB) issued its final rule on payday lending — revoking some would-be restrictions that...
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Next-Gen DebitThe Next Big Thing Is … Debit
Using credit cards (aka spending the bank’s money instead of your own) seemed so cool — until it suddenly wasn’t nearly as...
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CoronavirusNEW DATA: Examining The Pandemic’s $158 Billion Digital Shift
The COVID-19 pandemic has upended millions of consumers’ lives, be it through health complications, job loss, stay-at-home orders or a more general...
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CoronavirusNEW DATA: 60 Percent Of US Consumers Now Live Paycheck-To-Paycheck
The COVID-19 pandemic has triggered an unprecedented wave of business closures, placing millions out of work with no telling when they will...
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CoronavirusNEW REPORT: How COVID-19 Changed Daily Life For 85 Percent Of US Consumers
The United States has reached a tipping point on COVID-19, with federal state and local governments implementing new restrictions on where consumers...
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DebtWill New CFPB Rules Finally Be Able To Put Zombie Debt To Rest?
The phenomenon of zombie debt is not new to the U.S. economy — nor are consumer complaints about collection agencies that use...
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BankingRevolut Starts Open Banking Service For UK Customers
Revolut has announced a new Open Banking feature that will allow customers to access all their bank accounts on a single app....
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CFPBWaters Tells CFPB Head To Do Better
The chairwoman of the U.S. House Committee on Financial Services, Maxine Waters, told the head of the Consumer Financial Protection Bureau (CFPB),...
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Consumer FinanceFICO’s New Scoring Algorithm Promises Big Swings In Consumer Scores
Might the rising tide of debt slow to a trickle? If so, the U.S. consumer will likely find harder times ahead, if...
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Consumer FinancePersonal Loan Growth Hints At Strategy Vs Credit Card Debt
Call it a case of six of one, half dozen of the other. Call it a case of financial alchemy. Call it...
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Consumer FinanceAmex’s Revamped Green Card Expands Rewards For Travel, Transit, Dining
American Express has announced that it has reimagined its American Express Green Card to include new benefits and features. Now called Green...
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Consumer FinanceWhy Simple And Instant Is The Secret To Making Rebates Truly Rewarding
Rebates and cash-back offers sound great in theory — the customer purchases something they wanted anyway, and get a small incentive payment...
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Consumer FinanceSurvey: Teens Slated To Spend Lowest Amount Since 2011
New data has found that American teens are estimated to spend $2,371 per year — the lowest level for the age group...
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Consumer FinanceVocalink CEO: The Three Guideposts For Navigating Payments’ Evolution
The good news for customers — and the challenge for financial services players, both established and emerging as the decade comes to...
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VISAVisa Powers Revolut’s Global Expansion Into 24 New Markets
“There is nothing new under the sun.” Human beings have been saying the above, or some variation on it, for approximately three...
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Digital BankingAussie FinTech Douugh Expands Mastercard Debit Cards To US Customers
Australian consumer FinTech company Douugh is kicking off its visual “Savings Jar” feature as it widens the availability of its artificial intelligence...
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Digital BankingWells Fargo Teams With Plaid On API-Supported Data Exchange
Financial institution Wells Fargo is partnering with data platform Plaid to offer customers the option of managing their finances in one place...
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Consumer FinanceCFPB’s New Network Steps Up Financial Innovation Regulation
A network to better coordinate financial innovation among federal and state regulators is being launched by the Consumer Financial Protection Bureau (CFPB)...
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B2B PaymentsAPIs For FinTech Firms And Installment Plans
Programming innovations are making inroads, and are used by FinTech firms and banks to offer financial services to corporations and consumers. This week’s...
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Consumer FinanceLendingClub President On Credit That Builds Savings
A fine line separates debt and savings (between the black hole of high-interest credit card payments and the slow progress of financial...
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Marketplace Lending PlatformLendingClub Extends Balance Transfer To More Customers
To drive savings and simplicity while improving financial health, LendingClub has extended balance transfer to more borrowers. The offering lets borrowers seamlessly...
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HealthcareSolving The $50B Elective Medical Procedure Payments Problem
The demand for elective medical procedures in the U.S. is sky-high, but high costs severely limit consumers’ access to them. The elective...
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RegulationSenators Urge CFPB To Reconsider Debt Collection Overhaul
A group of senators is urging the Consumer Financial Protection Bureau to reconsider a recently proposed overhaul of debt collection practices that...
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LegalBattle Over Payday Lending Shifts To Public Comments
The battle over payday lending — specifically, how tough U.S. federal rule will be in governing the industry — is heating up as an...
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Consumer FinanceHelping Millennials Live Financially Ever After
When Honeyfi got off the ground in 2017, it had a pretty simple idea. Couples could better manage their financial lives if...
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Consumer FinancePressure Mounts On CFPB Over Public Service Loan Forgiveness Program
Launched in 2008 as a provision of the College Cost Reduction and Access Act (CCRAA), the Public Service Loan Forgiveness program’s objectives...
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Consumer FinanceRhode Island Eyes Capping Credit Card Interest Rates
In the United States, credit card balances and the interest rates charged on those balances are on the rise. In the latest...
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RegulationEarnin Investigated For Offering Covert Payday Loans
Silicon Valley-based financial services startup Earnin has potentially run afoul of New York State regulators with its payday advance product for consumers....
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Consumer FinanceSchwab Bets Big On Subscription-Based Investing
Investing and financial planning company Charles Schwab is moving from its current payment model to a subscription-based one that will provide more...
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Consumer FinanceTandem Bank Launches New Automatic Savings Account
U.K. challenger bank Tandem Bank is trying to make it easier for consumers to save by launching a new savings account. According to...
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Consumer FinanceFCA Calls For Lenders To Curb ‘Unacceptable’ Fees
The Financial Conduct Authority (FCA), the U.K.’s financial watchdog, has found that some lenders are inflicting their credit card customers with an...
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Consumer FinanceUS Credit Card Balances End Year At $870B Record High
Credit card debt in the U.S. reached $870 billion at the end of last year, setting a record. Bloomberg, citing data from...
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Alternative FinancesAre Mortgages The On-Ramp For Lifelong Financial Management?
Of the scores of innovations and updates to consumer lending seen and written about over the last decade or so, speed is...
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Consumer FinancePayday Loans, Pawnshops And Borrowed Credit Cards: How Many Americans Got By In 2018
When it comes to managing personal finances, consumers are seemingly taking one step forward and three steps back. For one thing, the...
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Consumer FinanceReport: Minority Consumers Grapple With Debt
A new report has found that as debt rates have climbed to pre-recession levels, minority consumers are struggling to reach financial parity....
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Consumer FinanceAffirm Joins The High-Yield Savings Account Crowd
Affirm, a company founded by entrepreneur Max Levchin to provide fair alternative credit, has launched a new free saving account that offers...
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Gig EconomyNEW DATA: Digital Marketplaces And The $1.4T Gig Payments Opportunity
As 2018 came to a close, unemployment was at historic lows — thanks in part to growth in the gig economy. In...
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Consumer Finance29 Pct Of Millennials Want To Pay Off Debt In 2019
Nearly all American millennials plan on making a financial resolution in 2019, with some of the biggest goals being to save more...
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Economy2018: The Year Of The Confident Consumer
What a difference a decade makes. Ten years ago, consumer confidence had slipped to an all-time low, and consumer spending followed it...
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Consumer FinanceRecurring Card Payments To Hit $473B By 2021
A new report has predicted that recurring transactions processed on debit and credit cards in the United States will reach $473 billion...
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LoansFDIC Seeks Public Comment On Banks And Small-Dollar Loans
The Federal Deposit Insurance Corporation (FDIC) announced that it is has issued a request for public comments related to small-dollar lending by...
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Digital BankingTandem Partners With Stripe On New Auto Save Feature
Tandem Bank, the U.K. mobile bank, announced on Wednesday (Nov. 14) a new automatic savings service that will be powered by global...
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Alternative FinancesAffirm Launches New Features To Help Consumers Spend Responsibly
“The more I looked at retailer-sponsored finance, the more I realized people routinely end up paying atrociously more than they bargained for...
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AuthenticationDiebold Nixdorf On Why Banks Could Be Digital Identity’s Future
Digital identity in the last few years has gotten a major boost — as of 2018, 60 nations worldwide have embraced some version...
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Consumer FinanceHow Connected Cars Could Change Auto Finance
The automobile is one of those products that can change countless details of daily lives, to say nothing of the payments and...
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RetailBread Finance On Why The Early Financing Offer Catches The Conversion Worm
Offering financing to consumers can be a tremendous marketing and customer retention tool for retailers that do it right. The trick, Bread Finance CTO and...
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Faster PaymentsWill Waiting For Pay Day Soon Be A Thing Of The Past?
While living paycheck to paycheck is often associated with low-salary or part-time workers, the data tells a different story. As it turns...
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InvestmentsRefund App Truebill Snags $5M, Launches ‘Smart Savings’
Finance app Truebill announced it has raised $5 million in Series A funding and launched a variety of new capabilities. Investors in...
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B2B PaymentsWhat Newton’s First Law Has To Do With B2B Payments
Maybe Isaac Newton — the hopelessly hopeful alchemist who came up with some solid rules of physics — was a genius of...
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LoansChina’s X Financial Has A New US IPO And 400M P2P Leads
Peer-to-peer (P2P) lending in China is not for the faint of heart — and that’s putting it lightly. Banks offer credit limits...
