The Trump administration issued guidance Tuesday forbidding a set of lending programs meant to combat discrimination. But banks saw the government's action coming — and some had already dismantled their programs.
More than half of the independent brokerages participating in this year's IBD Elite study declined to disclose the share of women among financial advisors at their firms. Those that did provide data have done more to advance women than many of their rivals in the independent brokerage channel of wealth management.
Firms like Nium and Amex GBT are using virtual cards and agentic commerce to take a crack at easing the complicated processes involved in business trips.
A second lawsuit challenging the Federal Reserve's debit interchange fee regime is set to be heard in the U.S. Court of Appeals for the 6th Circuit in October. JPMorganChase, Bank of America and Wells Fargo — as the largest debit issuers by purchase volume — are most at risk to see a dramatic cut in interchange revenue.
Banking industry groups are backing vulnerable incumbents as Democrats target vulnerable GOP-held seats. The trajectory of near-term financial services policy and oversight hangs in the balance.
Financial institutions have work to do to give themselves and their chatbots more street cred, experts say.
"The numbers are obviously worth keeping an eye on, but lenders are managing the risk," said Melinda Zabritski, Experian's senior director of automotive finance. But she’s not yet worried about the rise in delinquencies or loans to those with lower credit scores, saying Experian hasn’t seen any obvious red flags. "Subprime has always been a part of the auto finance market and that's not going to change," she said. "We still have a lower percentage of subprime loans than we had before the recession."
Experian stated that 20.8% of open auto loans are held by those with subprime and deep subprime credit ratings, a slight increase from the fourth quarter of 2014.
As auto sales climbed to a record high last year, banks, credit unions and the finance divisions of automakers wrote so many loans that the total amount borrowed for new cars and trucks hit almost $1 trillion in the fourth quarter.Auto delinquencies and repossessions historically climb when unemployment rises and the economy slows. The latest economic data may show the economy slowing, but the unemployment rate dropped below 5% in January, the lowest level in years.