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Credit Card Charge-Offs Reach Highest Rate Since 2009

PYMNTS

Moody’s Investors Service reported Thursday (June 8) that credit card charge-offs — debts that are so delinquent that lending institutions have basically given up on collecting them — are at their highest rate since 2009 , possibly due to loosening lending standards. Capital One wasn’t far behind at 5.31 percent, up from 4.84

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The pro-cyclicality of capital ratios and credit supply, a tale of two sizes

BankUnderground

This post investigates whether large and small banks in the UK and US differ in the cyclical patterns of capital positions and credit provision. The reforms aimed to ensure that banks have sufficient capital resources to absorb losses and reduce the cyclical effects of bank capital (and regulation) on the supply of bank credit in stress.

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SMBs Accuse Kabbage Of Abruptly Canceling Credit

PYMNTS

Georgia-based Kabbage claims it has provided small business borrowers with over $9 billion in loans as of its 2009 establishment. and OnDeck Capital Inc. Borrowers, who realized the credit lines were halted when they signed onto their accounts, claim the company did not provide them with notice, according to a Bloomberg report.

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MoneyGram Teams With LuLu Money To Power Asia-Pacific Transactions

PYMNTS

A recent report from the United Nations indicates that tech advances in the remittance marketplace “could help enable financial inclusion for hundreds of millions of people in the Asia-Pacific region.”. ” Launched in 2009, Lulu Money has five million users processing 1.1 million transactions annually.

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Stressing the importance of stress tests

Abrigo

March comes in like a lion for the nation’s largest banks. The reports were positive: all 31 stressed banks “passed,” showing that they are stronger than they have been at any time since the tests began in 2009, the Fed reported.

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Precautionary facilities: stitches for a fragmented financial safety net

BankUnderground

Fragmentation is likely to have wide-ranging implications for the global economy, including increasing the volatility of capital flows and exposing gaps in the global financial safety net (GFSN). The GFSN consists of a set of financial instruments and institutions that act as insurance for countries facing sudden stops in capital flows.

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Tencent Buys Stake In Tesla

PYMNTS

On Tencent’s part, the move looks to capitalize on Tesla’s fast-growing market in China, which last year accounted for over $1 billion of the automaker’s total revenue. Working together, Tesla and Tencent could feasibly leverage Didi’s existing network in China to bring self-driving vehicle models into the nation of over 1.3

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