Perficient

FEBRUARY 17, 2023

In the first two blogs in this series, Getting Started On Embedded Finance and Embedded Finance: Bolstering Brand Experiences, we defined embedded finance and looked at the goals and strategies that firms should take at the outset of their modern embedded finance journey, as well as how and why firms should consider getting embedded banking.

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TheGuardian

MAY 29, 2020

Relatively low number of breaks so far is now rapidly rising, says bank lobby group Coronavirus – latest updates See all our coronavirus coverage Britain’s high street banks have granted almost 1.5m payment holidays to consumers struggling to repay their credit cards and personal loans during the coronavirus pandemic.

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South State Correspondent

AUGUST 16, 2023

Even if your bank has limited consumer exposure, given that the consumer composes approximately 66% of the US economy, and, according to the yield curve and market pundits, we are all staring into a recession, paying close attention to consumer trends is critical. Unsecured personal loan usage is up 21%.

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Perficient

JULY 11, 2022

Buy now, pay later (BNPL) is a type of point-of-sale installment loan that partners with retailers to allow consumers to pay for their purchases in multiple equal payments. It only offers one loan option, which is a zero-interest loan paid in four equal installments over six weeks.

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Perficient

FEBRUARY 16, 2023

Card Operations: The ServiceNow Card Operations provides a unified platform for creating and management of cases related to credit card inquiries, including new cards being requested, increasing, or decreasing credit limits, blocking, or unblocking cards, and closing down a card account.

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PYMNTS

NOVEMBER 18, 2020

Americans paid off $10 billion in credit card debt in the third quarter (Q3) of 2020, but borrowed more for car and housing loans, according to a report in the Wall Street Journal (WSJ) citing the Federal Reserve Bank of New York. trillion, up $85 billion, with new housing and refinancing loans totaling $1.05

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South State Correspondent

OCTOBER 23, 2023

A proposal letter (or letter of intent) expresses interest from the lender before credit approval is obtained. It is only furnished after preliminary credit approval and typically contains the following language: lender commits to provide the loan on, and subject to, the terms and satisfaction of conditions set forth herein.

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Bank Innovation

JANUARY 15, 2020

Despite advances in banking and personal finance technology, paying credit card bills in a simple, time-efficient way is still a pain point for many consumers. households revolved credit card debt from month to month last year. According to recent research, 37% of U.S.

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PYMNTS

NOVEMBER 15, 2020

consumers have been paying down payments on credit cards with the pandemic continuing to hamper spending opportunities, which has led to dramatically falling bank card loans, The Financial Times (FT) reports. According to the report, the total amount of card loans in U.S. Revolving debt was down $9.4

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South State Correspondent

JANUARY 3, 2023

Despite reaching the highest profitability in over a decade in 2022, US banks overall trade at a discount to other sectors as measured by P/E or P/Book, and approximately 53% of US banks have earned less than their cost of equity over the last five years. Data Visualization and Bank Profitability.

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Abrigo

OCTOBER 28, 2022

Managing loan workouts and modifications Tips for preparing your bank or credit union to handle an increased volume of problem loans while ensuring prudent credit risk management. You might also like this video, "A look at credit risk in a rising-rate environment." Loan performance since 2020 Chart 2.

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PYMNTS

DECEMBER 21, 2020

A new survey has revealed the steep plummet the consumer credit market took as the pandemic began, the Federal Reserve Bank of New York reported. The Federal Reserve Bank of New York’s Center for Microeconomic Data released results on Monday (Dec. Credit union service organization (CUSO) PSCU noted that there had been a 28.9

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BankBazaar

JUNE 12, 2023

To many, a Credit Score may seem like a simple, inconsequential three-digit number. They look at the credit reports to understand the borrower’s ability and willingness to pay off debt. You can imagine how crucial that is because, at some point in life, the need to get a Credit Card or a Personal Loan may arise.

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PYMNTS

NOVEMBER 9, 2020

In the third quarter, banks tightened their loan standards to firms of any size and also saw weaker demand than usual, according to the Federal Reserve ’s October 2020 Senior Loan Officer Opinion Survey on Bank Lending Practices.

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BankBazaar

NOVEMBER 3, 2023

A loan against a C redit C ard can provide quick access to funds when you need them the most. One such financial option gaining popularity is the “Loan Against Credit Card.” The eligibility criteria often depend on factors like your credit limit, repayment history, and creditworthiness.

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BankBazaar

JANUARY 31, 2024

While navigating a loan default can be challenging, understanding your rights and available options empowers you to make informed decisions. Repaying a loan and managing EMIs can sometimes become a challenging endeavour, potentially leading to concerns about defaulting. By elongating the repayment period, EMIs become more manageable.

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BankBazaar

JANUARY 14, 2024

While building a Credit Score from scratch can be challenging, it’s not impossible! Read on for actionable steps to help you establish a robust credit history. In today’s world, having a good Credit Score is crucial for financial stability. Without any credit history, your score starts at the lower end of the spectrum.

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Cards Security Management Report 78

Chris Skinner

APRIL 2, 2020

Things we’re reading today include … JPMorgan on collision course with US Treasury over rescue loans 130K inquiries, 1K loans: why UK government had to tweak help for small firms Denying coronavirus loans ‘completely unacceptable’ banks told Loan and credit card payments to be frozen for three months in UK … The post Things (..)

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Abrigo

MARCH 14, 2024

Strengthening customer relationships with tangible value and personal touch Customer retention in banking can be challenging for community financial institutions. Takeaway 3 Proactive customer retention also demonstrates banks' commitment to their customers' success and adds value to their services.

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Perficient

JULY 15, 2022

For those of us closely looking over bank results for any signs of an economic recession, there is more evidence that we’ll be there soon if we’re not already here. A day before Wells Fargo, JPMorgan Chase posted results that missed expectations as it built reserves for bad loans. This isn’t only a Wells Fargo problem.

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South State Correspondent

FEBRUARY 22, 2024

Banks consistently produce under their cost of capital. For example, at present, return on equity performance is about 12% for the average community bank. However, for the average bank, their cost of capital is between 9% and 14% depending on the bank’s equity liquidity with an average of 12.5%. Why is that?

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American Banker

APRIL 16, 2024

Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.

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Abrigo

MAY 30, 2023

Timelines for small business loan data collection and reporting Deadlines for complying with the new CFPB section 1071 rule requirements for financial institutions to collect data on small business loan activities. Reporting on the data is also expected to help identify small business owners’ needs and credit opportunities.

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PYMNTS

MARCH 20, 2020

Bank of America (BoA) customers impacted by the coronavirus can request mortgage, credit card and other loan deferments, the company announced on Thursday (March 19). The bank is providing relief to its 66 million customers as part of its Client Assistance Program and will offer deferments on a case-by-case basis.

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Abrigo

FEBRUARY 14, 2023

What to know about the CFPB 1071 rule affecting small business loans This post provides answers to some frequently asked questions about data requirements and other changes likely from the new rule. Takeaway 3 Lenders will need to collect 20+ data points on each application from businesses with $5 million or less in gross annual revenue.

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PYMNTS

JANUARY 26, 2021

26) that, in its fourth quarter, consumer credit metrics improved as consumers continued to pay down debt. The company said that the provision for credit losses was 20 percent lower to $264 million, with a $593 million impact from a loan reserve release. Ending loans were down 17 percent YOY, by $21.3

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PYMNTS

NOVEMBER 12, 2020

Wells Fargo & Co is seeking to sell its private-label credit card and point-of-sale (POS) financing unit as part of an ongoing strategic review of its businesses. Selling the private-label credit card unit would be a business reversal for the financial services group. Debit card POS purchase volume hit $102.9

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Bank Innovation

OCTOBER 11, 2019

Banks and digital lenders may be throwing their weight behind point-of-sale loans instead of credit cards, but personal loan company Upgrade is launching a product that straddles both product categories.

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PYMNTS

OCTOBER 14, 2020

Bank of America (BofA) said on Wednesday (Oct. 14) that it is seeing a full restoration of customer spending, along with declines in delinquencies on credit cards, car loans and mortgages, even as the pandemic rages on. Loan Delinquencies Stabilizing. Credit Card Spending Rebounding.

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PYMNTS

JANUARY 19, 2021

s first publicly traded neobank, with a branchless digital-first approach to financial services that comes right as the pandemic has forced branches to close, and banking across online platforms is gaining critical mass. In this way, the interest paid by borrowers on loans can be, in part, channeled to paying interest on depositors’ accounts.

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PYMNTS

MARCH 29, 2020

As a potential recession lurks, FinTechs, traditional banks and other financial institutions (FIs) are tightening the reins on loans to small businesses and households with shaky credit, The Wall Street Journal reported Saturday (March 28). But lenders are hesitant to extend credit to new people who might pose risks.

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Abrigo

SEPTEMBER 20, 2023

Rather than stealing someone's identity or using a friend or family member's details, the account holder is who they say they are and uses their account to commit fraud—for example, applying for a loan with no intention of paying it back or filing a false chargeback claim. The scam here is an inside job, making it inherently more elusive.

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PYMNTS

JULY 21, 2020

Capital One reported on Tuesday (July 21) that its credit card business shrank during the second quarter, but that delinquencies fell despite the pandemic. In our credit card business, loan balances, purchase volume and revenue declined year over year. billion, while auto loans rose 1 percent on average to $61.8

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Cards Capital Survey Report 240

BankBazaar

JULY 31, 2023

Over the past decade and a half, we’ve been on a thrilling journey, redefining the way Indians access credit. Fun Fact: Did you know that before becoming BankBazaar, we actually went by the name “Loan Dukaan”? It’s time to put on y our party hats and join the celebration as BankBazaar turns 15!

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PYMNTS

APRIL 13, 2020

(and international) consumer and the businesses that serve them will be center stage as earnings season gets underway, starting, as always, with a slew of big banks. The last time we had earnings season, stretching from mid-January into the end of February, banks pointed to the continued strength of the U.S. and the U.K.,

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Chris Skinner

FEBRUARY 3, 2020

Things we’re reading today include … Goldman Sachs in Amazon talks over small business loans FCA: credit card firms must stop suspending all users in debt spiral Travelex: Bank currency services still offline after hack Only two women applied for Bank of England governor role Worldline to buy Ingenico for … The post Things worth reading: (..)

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Cards 250

Abrigo

NOVEMBER 22, 2021

Consumer Lending Laws & Compliance Financial institutions offering consumer loans need to know about these major consumer lending laws and recent compliance issues. Major consumer loan compliance regulations. Regulation B, implementing the Equal Credit Opportunity Act (ECOA) for fair lending.

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