Nu Holdings Ltd. said artificial intelligence features it started to deploy in Brazil helped the fintech increase credit-card limits for some clients, boosting third-quarter revenue and profit. Nubank,…
Read more Nubank says AI helped boost clients’ credit-card limitsAfter struggling for the last two years, credit card borrowers appear to be turning the corner. Late payments on credit cards aren’t rising much and are even declining…
Read more Credit card borrowers are starting to show greater strength, new data indicatesFour years ago, George Floyd was choked to death by a police officer after trying to use a possibly counterfeit $20 bill at a Minneapolis convenience store. Widespread…
Read more The racial wealth gap is getting wider. Can technology fix it?Analyzed from a property rights perspective, the dividends paid by the Federal Home Loan banks to their members are surprisingly stingy, and vary wildly between the different banks,…
Read more Home Loan bank dividends are not ‘excessive.’ They’re oddly low.Bank of America’s credit card losses hit their highest levels since before the pandemic in the first quarter, the company reported Tuesday.Angus Mordant/Bloomberg Though Bank of America’s profits…
Read more Bank of America hurt by rising losses in credit cards, office loansThe Federal Reserve on Wednesday indicated that interest rates could be coming down this year. The KBW Nasdaq Bank Index rose more than 2% for the day and…
Read more Why bank stocks still have plenty of upsideEnjoy complimentary access to top ideas and insights — selected by our editors. Goldman Sachs announced it would sell GreenSky last fall as part of its efforts to…
Read more Goldman closes GreenSky sale, and Synovus sees an edgeGamblers in 28 U.S. states can now make legal sports bets from their mobile phones, which has fed fears that a problem-gambling epidemic is building. When Rob Minnick…
Read more Why gambling addiction is suddenly a problem for banksSenate Banking Committee Chairman Sherrod Brown, D-Ohio, was flanked to his left by ranking member Sen. Tim Scott, R-S.C., and to his right by Sen. Jack Reed, D-R.I.,…
Read more Sen. Sherrod Brown presses big banks on protections for service membersRecent “favorable credit outcomes” alongside deposit growth mean Cincinnati-based Fifth Third “can return to growing loans next year,” CEO Tim Spence told analysts. The strong credit performance at…
Read more Fifth Third eyes loan growth following strong 3Q credit performanceU.S. banks can add the revival of student loan payments to the list of obstacles to deposit growth. With more than 40 million Americans scheduled to resume making…
Read more How the end of the student-loan pause could hurt deposit levelsDelinquency rates on consumer loans last month hit their highest level since the spring of 2020, a potential sign that inflation and rising interest rates are taking a…
Read more Why consumer delinquencies are at their highest level since 2020Upstart Holdings Inc. has struggled to contend with a tougher lending environment, and the company indicated Tuesday that its challenges are expected to continue. The financial-technology company, which…
Read more Upstart stock sinks as tough lending landscape drives downbeat earnings outlookCitizens Financial, Capital One Financial and Synovus Financial are among the banks that have recently announced steps to shrink specific parts of their lending businesses. Bankers that long…
Read more Banks, usually hungry for growth, are now looking to shrinkCredit card lenders plan to stay in growth mode, saying they detect few causes for alarm in the consumer sector despite lingering recession fears. To be sure, consumer…
Read more Banks lean into credit card growth, pointing to resilient U.S. consumersTotal credit rose $7.2 billion, the smallest advance since November 2020, Federal Reserve data showed Monday. Brent Lewin/Bloomberg U.S. consumer borrowing slowed to a more than two-year low…
Read more U.S. consumer borrowing rises at slowest pace since late 2020“The economy is not doing well, and there’s a flood of shaky issuers that are going out of business” in the auto market, says John Kerschner, head of…
Read more Subprime auto bondholders face possible first hit in decadesTotal fees and interest on credit cards rose 20% from 2021 to $113.1 billion last year, according to a new report from Financial Health Network.Adobe Stock Americans paid…
Read more Americans paid 14% more for financial services last year: ReportThe American Bankers Association’s headline credit index came in more than almost 43 points below the 50-point threshold that marks the line between improving and deteriorating credit conditions.Adobe…
Read more Credit conditions expected to remain poor this year, bank economists sayUnder a measure signed by Gov. Jared Polis, Colorado will opt out of a 1980 federal law, which had enabled state-chartered banks from elsewhere to export their home-state…
Read more Colorado’s new law on high-cost lending may be a model for other states
