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Some of the riskiest loans given to millennials and Gen Z shoppers for clothes and electronics — and neatly repackaged for investors — are dropping in value.
June 8
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U.S. consumer borrowing surged again in April, following a record jump a month earlier, fueled by rising prices and the continued strength of American consumers.
June 7
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The credit card issuer Synchrony Financial recently used FICO’s top competitor in a $1 billion deal. The choice is significant for VantageScore, but FICO remains the dominant credit score in the securitization market, according to analysts.
June 7
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PayPal Holdings will let users transfer certain cryptocurrencies to other customers, exchanges and external wallets, a new service that’s part of the company’s effort to boost use of its app.
June 7
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Citigroup plans to hire more than 4,000 tech staff to help move its institutional clients online in the wake of the pandemic.
June 6
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Bruised by recent public relations gaffes, the buy now/pay later pioneer is forging ahead with a plan to complement its installment loans with a physical Visa card.
June 3
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The Federal Reserve is about to start shrinking its $8.9 trillion balance sheet, deploying a second tool along side higher interest rates to curb inflation, though officials don’t know just how effective it will be.
June 1
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The nation’s six largest credit card companies are facing questions from the Consumer Financial Protection Bureau over their alleged failure to report customer payment data on a regular basis. The agency says that the industry’s practices can hurt consumers’ ability to qualify for cheaper loans.
May 26
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Goldman Sachs’ Marcus, Synchrony Financial, American Express and Capital One Financial are among the banks that have recently raised their five-year CD yields. The price competition arrives as the Federal Reserve acts quickly to rein in inflation, spurring expectations that rates will continue to rise.
May 25
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Bank of Nova Scotia and Bank of Montreal, Canada’s third- and fourth-largest lenders, got a boost last quarter as the nation’s businesses increased borrowing to meet customer demand.
May 25
