Credit

Millennials especially have shunned credit cards in favor of buying even low-ticket items using a system of installment loans, often incurring little to no interest, says Jifiti's Nufar Segal.

No Republicans voted for the package of bills intended to overhaul the credit reporting system, casting doubt on its chances in the GOP-controlled Senate.

The Los Angeles company set aside more money to cover a problem loan after an updated appraisal of the credit's collateral.

If consumers suddenly change bill pay habits, many processing systems and third party collectors will be overtaxed, says Alorica's Jay King.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation garnered no Republican support.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation has garnered no Republican support.

The largest bank in Puerto Rico said hundreds of millions of dollars of its mortgages and consumer loans are tied to the parts of the island hit by the recent quake or still recovering from two hurricanes.

Shares of Discover Financial Services slumped the most in more than a decade after credit card lender warned that it will spend more on marketing and technology, including to beef up collections on troubled debt.

The credit card lender has seen problem loans spike since it introduced a feature that lets at-risk customers restructure loans through its online and mobile channels.

Mastercard will financially back Indian merchant commerce platform Pine Labs' embrace of multi-channel installment financing as a payment option in addition to cards.