Credit

Klarna will begin reporting the use of buy now/pay later products to U.K. credit reference agencies, which could see the increasingly popular mode of financing impact users' credit ratings.

During the pandemic, consumer lenders have found it easier to collect payments because the federal student loan moratorium has made many borrowers more liquid. A plan for blanket forgiveness reportedly under consideration by President Biden could sustain that trend.

More than two years into the pandemic, banks hit several turning points during the first quarter. On the positive side, commercial loan growth finally materialized, but there were also snags, particularly in fee income.

Consumer Financial Protection Bureau Director Rohit Chopra should exercise his power to extend the full protections of Regulation E and the Fair Credit Billing Act to the booming installment loan sector, the advocacy group U.S. PIRG says.

The data from these transactions could help millions of borrowers with thin or nonexistent credit files. But how the credit reporting industry collects and treats the data may matter more than the data itself.

Americans with student loans are about to get a stark wake-up call on their borrowings as government relief programs phase out, according to a blog post by the Federal Reserve Bank of St. Louis.

With the buy now/pay later market cooling and regulatory scrutiny increasing, Zip aims to rapidly scale with merchants and consumers.

With their costs soaring, farmers may need credit to make ends meet. Bankers see this as a chance to offer more loans, but worry that some borrowers may not be able to make their payments.

U.S. lenders issued more credit cards than ever last year, with a growing share of them going to consumers with lower credit scores.

Esusu, a financial technology company that aims to help bridge the racial wealth gap by reporting rent payments to credit agencies, has become one of only a few Black-owned startups to reach a valuation of $1 billion after closing a Series B round led by SoftBank Vision Fund 2.

The question is unfair to people who have never been found guilty or have been accused of minor offenses. It’s especially unfair to minority applicants.

Fourth-quarter profits rose 10% at the Cleveland company as investment banking income hit a record and nonperforming loans plummeted. Executives say charge-offs will probably start rising in late 2022 but that fee income from capital markets transactions will keep growing.

The company sold small businesses a credit-building product that fell short of its promises, and also failed to help them fix inaccuracies in their credit reports, according to the Federal Trade Commission. D&B has agreed to give refunds to many customers.

The startup PointCard's new charge card ignores applicants' credit scores, instead weighing their cryptocurrency holdings and other investments to determine ability to repay.

In a letter to the agency’s new director, top Senate Democrats recommended policy steps intended to limit mistakes in consumers’ credit files that they said “can ruin lives.”

Companies using only a person’s name and not other identifiers to screen job and tenant applications can produce inaccurate information, according to the bureau. The agency's advisory opinion said such practices violate the Fair Credit Reporting Act.

A report by the agency found that consumers in majority Black neighborhoods were more than twice as likely as those in white neighborhoods to lodge complaints with the credit bureaus over information in their files. Meanwhile, disputes were less common among older borrowers.