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U.S. consumers set a new record during the second quarter, as card debt reached $1.03 trillion. Bankers say a healthy job market has allowed consumers to keep making their monthly payments, but they're also on guard about the impact of the upcoming resumption of federal student loan payments.
August 8 -
The Seattle bank, which has lost about two-thirds of its market value this year, is also said to be considering raising capital and selling assets.
August 2 -
In 18 states, consumers are not allowed to use trained debt resolution professionals to seek relief from their creditors. That needs to change.
August 2American Association for Debt Resolution -
Banks locked in funding by offering more enticing rates on certificates of deposit last quarter, but rebuilding liquidity came at a cost. Competition isn't dying down either, with a couple of credit unions floating 6% CD rates.
August 1 -
Big Poppy Bancorp has applied to the Federal Reserve to acquire up to 24.99% of Summit State Bank. Both institutions are headquartered in Santa Rosa. Combining them would create the city's biggest bank.
July 28 -
Evidence from the implementation of the 2009 CARD Act shows that warnings about higher interest rates and other unintended consequences don't square with reality.
July 25Stanford University -
Credit metrics are deteriorating as more cardholders fall behind on their payments. But bank CEOs detect few causes for alarm, saying they plan to stay in growth mode since most consumers have stayed current.
July 24 -
The Financial Conduct Authority is developing new rules that tighten how financial firms can use social media, Swift and a group of banks have successfully piloted instant payments between different countries and currencies, and more.
July 19 -
U.S. financial services firms should be paying close attention to the innovative Pix Credit system that is displacing consumer credit cards in Brazil.
July 19 -
The New York megabank benefited duing the second quarter from strong revenue growth in its giant credit card business, which helped overcome headwinds in wealth management and investment banking. But executives indicated that the script could soon flip.
July 14