Receiving Wide Coverage…
Credit-quality alert: How are the consumer credit markets doing? To quote the Magic 8-Ball: "outlook not so good."
Synchrony Financial, the largest U.S. issuer of private-label credit cards, said Tuesday that its chargeoff rate is likely to rise by 20 to 30 basis points over the next year, as some borrowers struggle to get on top of overdue payments.
The credit card industry has benefitted from very low delinquency rates in recent years, but that streak might now be ending. Earlier this month, Jamie Dimon, head of JPMorgan Chase, described the auto lending business as "a little stretched."
The bad news doesn't bode well for the rest of consumer finance, either. As a Wall Street Journal columnist concluded, "there is never just one
Into the dark: Securities and Exchange Commission staff have recommended approval of dark pool IEX to become an official stock exchange, though the decision ultimately rests with the agency's commissioners. IEX would use a "speed bump" to protect investors from high-frequency traders – the concept was featured in Michael Lewis' 2014 book "Flash Boys."
Wall Street Journal
Age is just a number: MetLife has
Financial Times
Employment woes: Another
Battle lines drawn: A top official at Wells Fargo is
New York Times
Hands off: The Commodity Futures Trading Commission is "
Elsewhere…
Classic Hoenig: Thomas Hoenig, the vice chairman of the Federal Deposit Insurance Corp., beats the drum for