Creditrust Corp. said this week that it has completed a $30 million
The Baltimore manager and collector of delinquent consumer receivables
The financing bears interest at a floating rate of 65 basis points over
The transaction, which was structured by Rothschild Inc., calls for
Though Creditrust said it plans to take out the financing's notes with a
Standard & Poor's gave the transaction an AA rating.
Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
Tests of models from OpenAI, Google and others found their advice tends to disadvantage names commonly associated with racial minorities and women.
Federal Reserve Governor Michelle Bowman said she believes there is a feasible path forward for the revised capital reform proposal, emphasizing the importance of making broad changes informed by industry feedback to achieve broad consensus among Federal Reserve board members.
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
