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Credit card interest rates are expected to reach a four-decade high this year, a positive for lenders poised to benefit from the increased income while painful for consumers facing escalated borrowing costs.
January 5 -
Credit cards offered by banks including Wells Fargo and Synchrony Financial intended to cover expensive health care services may be causing unnecessary financial pain for consumers, said a group of U.S. senators, who cited potentially deceptive promotions.
January 4 -
Bank robberies are becoming a thing of the past in cashless Denmark as the Nordic country recorded its first year of zero holdups in 2022.
January 3 -
The measure would reduce access to credit among junior service members, opening the door to payday lenders.
December 21The Association of Military Banks of America -
Recent clashes over how much investors should get paid when borrowers switch to a new benchmark are a small part of a much larger struggle by global regulators to shift markets away from the scandal-tainted London interbank offered rate.
December 20 -
Mitsubishi UFJ Financial Group is in talks to invest about $200 million in Akulaku, an Indonesian online lender backed by Jack Ma's Ant Group, according to people familiar with the matter.
December 14 -
The payments firm is staffing up as it accelerates its expansion in the U.S., and anticipates a pool of available tech workers.
December 14 -
The acquisition of Malvern Bancorp in Pennsylvania would provide added heft in suburban Philadelphia markets. It is easily First Bank's largest-ever M&A deal.
December 14 -
The credit reporting firm said credit card and personal-loan delinquencies are likely to rise in 2023 to the highest in a dozen years, with lenders cutting back on originations as a potential recession looms.
December 14 -
Micron's planned semiconductor chip factory near Syracuse along with IBM's expansion project in the Hudson Valley could inject as much as $120 billion into markets inside the footprint of the combined NBT Bancorp and Salisbury Bancorp. NBT CEO John Watt calls the economic investments a "transformational opportunity" for the region.
December 13