Credit

The credit bureau is embedding its Experian Boost feature in the new account, which aims to help people strengthen their credit profiles through on-time bill payments.

With US banks facing a fresh wave of capital restrictions, some are searching for ways to trade out of risky loan portfolios and free up their balance sheets. The solution may very well lie with capital-rich lenders in the booming $1.5 trillion private credit market.

The combination of inflation and rising interest rates over the last 18 months has made it more difficult for Americans to stay on top of their loan payments, especially on credit cards and auto loans.

A handful of banks concentrated in the Southeast U.S. are facing elevated charge-offs amid the liquidation of Mountain Express Oil. First Horizon Corp., which led a syndicated loan of more than $200 million to the bankrupt company, expects to take a $70 million hit.

The Federal Housing Finance Agency also is offering more opportunities for public dialogue as stakeholders debate how fast the process should move forward.

Many of the fees that the agency derides as unnecessary are funds owed to medical practices, homebuilders and educational institutions.

Many depositors have "shifted their funds into higher-interest-bearing accounts, increasing banks' funding costs," S&P wrote in a note summarizing the moves.

The decision to allow lenders to review only two credit reports for mortgage applicants will harm homebuyers with less than perfect credit.

U.S. financial services firms should be paying close attention to the innovative Pix Credit system that is displacing consumer credit cards in Brazil.