ATLANTA - (07/11/06)Consumer Credit CounselingService is hoping you can stand one more reality TV program.Big Spender will feature CCCS Counselor RichardClements offering financial counseling to consumers on the new showpremiering on the A Television Network. Clements will helpparticipants examine their current troubled financial situationsand implement strategies to improve their changes for financialsuccess. CCCS said show participants progress will bemonitored after the initial show has been taped.
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Federal Reserve Vice Chair Philip Jefferson said that as interest rates have moved toward a more neutral level, "it makes sense" now to proceed with caution.
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The volume of home equity lines of credit expanded for the 14th consecutive quarter, driven largely by fintechs and other nonbanks that are accounting for more and more of the business.
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The payment and commerce company's stock fell as much as 12% in afterhours trading on Thursday after the fintech missed Wall Street's earnings estimates, despite posting growth in all lines of business and increasing its full year guidance.
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Federal Reserve Gov. Christopher Waller said there was a popular "misunderstanding" Thursday regarding who can qualify for a "skinny" master account, noting that only firms with a bank charter would qualify for approval.
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The digital neobank is expecting spending to stay strong through current economic conditions, and a new credit card is projected to bring in increased revenue.
November 6 -
Analysts say the fintech must "grow like a fintech, but be profitable like a bank" as its capital base shrinks to its lowest level to date.
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