Banking

It’s no coincidence that with more than half of consumers ages 20 to 29 now holding credit cards — up from 41% in 2012 — 90-day delinquency rates are at a seven-year high, according to the New York Fed.

Digit's savings app, relying on JPMorgan Chase's new real-time payments service, will offer customers an instant withdrawals feature that uses savings as a cushion against checking overdraws.

The agency launched a review to gauge whether the regulation requiring consumers to opt in to overdraft protection “should be amended or rescinded” to minimize the effects on smaller financial institutions.

Petal's getting aggressive with its incentive marketing by approaching consumers with limited credit histories, and it's betting artificial intelligence can handle the higher risk.

The bank plans rollout of a global cash management business; the lead Democrat on the Senate Banking Committee “not optimistic” about privatization.

The information you need to start your day, from PaymentsSource and around the Web. Today: Paytm Mall may have suffered internal scam; Apple adds NFC wrinkle; Belfast has its own coin; Uber adds PINs; Flexa adds retailers for crypto payments.

The forces reshaping small-business lending are also leading to “a moment of reckoning” for small banks, says former SBA head Karen Mills.

The Illinois company will gain six offices after it buys Investors' Security Trust.

The agency launched a review to gauge whether the regulation requiring consumers to opt in to overdraft protection “should be amended or rescinded” to minimize the effects on smaller financial institutions.

The ranking Democrat on the Senate Banking Committee says he wants answers from the Financial Stability Oversight Council on efforts to address corporate debt risks.

The U.S. government stepped up collections on delinquent student debt to $2.9 billion last year — or an average of $1,000 from 2.9 million former students and their cosigners, according to the Treasury Department.

On Dec. 31, 2018. Dollars in thousands.

New legislation in Iowa that allows banks and credit unions to use electronic notaries could help local lenders compete with online competitors.

On Dec. 31, 2018. Dollars in thousands.

The legislation from Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez is part of an effort to shift the range of what is thinkable in Washington to the left. It may also serve to highlight the vulnerabilities of Democrats with bank-friendly records.

On Dec. 31, 2018. Dollars in thousands.

Financial institutions have often criticized the agency’s publication of consumer complaints. But the information provided can offer executives important insights into looming problems that might not yet have come to light.

The Michigan company said the loan — made to a borrower that plans to shut down its reverse mortgage business — has collateral.

Purchase of United Capital Financial would extend the bank’s reach; the bank is raking in online deposits even as it pares back its branch network.

The information you need to start your day, from PaymentsSource and around the Web. Today Alipay, Adyen, Klarna collaborate; West Ham United adopts cashless pay; Digital advances in Germany, eBay tests a new concept store.