CFPB Monitor

AUGUST 9, 2018

On August 1, 2018, Sen. 3334 captioned “ The Military Lending Improvement Act of 2018” in the United States Senate to “expand and improve” credit protections afforded to service members by the Military Lending Act (MLA) and the Fair Debt Collection Practices Act (FDCPA). Bill Nelson (D-Florida) introduced S.

Lending 84

Lending United States Florida Data 84

PYMNTS

JULY 29, 2019

A company called Glint Pay has launched a debit card that’s backed by gold instead of currency, according to a report in The Denver Post. The card was released in the U.S. The debit card was introduced early in 2018 in Europe. Users are then given a debit card, licensed by Mastercard USA. on Monday (July 29).

Cards 191

Cards Colorado Denver Fintech 191

PYMNTS

OCTOBER 16, 2018

Goldman Sachs booked a 4 percent year-over-year revenue increase for the third quarter of 2018, with that growth powered in part by increased lending through its Marcus by Goldman Sachs online consumer savings and lending platform. For the first nine months of 2018, net revenue for Goldman Sachs stands at $28.08

Lending 147

Lending Digital Banking Retail Branding 147

PYMNTS

SEPTEMBER 18, 2018

And in lending, with the financial crisis in the rearview mirror, a decade on, invention – okay, innovation – has become a hallmark, at least in some corners. But a standstill in the credit markets created a vacuum for a bit, at least along traditional lending conduits. Mortgages and Credit Cards and Student Debt…. Mortgages ?

Lending 148

Lending Innovation Fintech Cards 148

PYMNTS

MARCH 7, 2019

The card network has partnered with Open Banking service Konsentus to add an identity and regulatory checking service to its roster of Open Banking tools and technologies. How PSD2 is Changing Lending in the U.K. For more on the security and privacy issues surrounding these regulations, visit the Tracker’s News & Trends section.

Lending 198

Lending Regulation Regional Data 198

Bank Innovation

DECEMBER 3, 2018

Bitcoin is no longer enjoying the limelight, non-bank giants like Amazon, Walmart and Google have shaken up the banking landscape and automation has become the norm in various aspects of banking with banks like using it in the backend of credit decision-making and lending. But which Bank Innovation stories caught […].

Google 170

Google Bitcoin Lending Innovation 170

Accenture

MAY 30, 2019

Each quarter, Ryan Douglas from the Card Issuing group compiles key metrics on US consumer credit cards, tracking spend, receivables, loss rates and returns reported by the largest US banks. Banks appear optimistic about the economic outlook but expect more moderate growth than 2018. Key themes. New partnerships.

Cards 158

Cards US Taxes Apple 158

PYMNTS

FEBRUARY 18, 2019

In China, Reuters reports that banks have resisted “maxing” out their credit card business, eyeing consumer spending and the fact that credit card lending has become what the newswire calls a “risky supplement” to other loan activity. And, perhaps in recognition of that risk, these same banks are pulling back on credit cards.

Cards 123

Cards United States Lending Analysis 123

Gonzobanker

DECEMBER 20, 2018

GonzoBankers, 2018 has been a troublesome year. about the best and worst in banking for 2018 and get fired up to start again in ’19. Ladies and gentlemen, we bring you the 2018 GonzoBanker Awards ! Although all banks faced stock headwinds in 2018, we give the nod to William Demchak at PNC Financial Services.

Fintech 102

Fintech Conference Innovation Community 102

PYMNTS

AUGUST 1, 2017

With home loan growth expected to slow to 4 percent in 2018, National Australia Bank (NAB) wants to build its business elsewhere, namely in SME lending. Australian regulators have been pressuring the nation’s top banks to improve their small business lending practices.

National 100

National Lending Capital Regulation 100

PYMNTS

NOVEMBER 20, 2018

According to the latest Q3 2018 TransUnion’s Industry Insights Report the back half of 2018 has been a good year for sub-prime borrowers looking for access to credit. In some areas, the growth in sub-prime lending matches overall growth in the segment, with credit cards and personal loans as the best example.

Lending 188

Lending Trends Cards Capital 188

PYMNTS

AUGUST 7, 2018

Traditional institutions are picking up steam in their efforts to collaborate with alternative financiers and FinTech firms, largely viewed as a way to spin the competition into allies and upgrade their lending services without the burden of in-house R&D. However, the Federal Reserve ‘s latest analysis of the U.S.

Lending 100

Lending Survey National Trends 100

PYMNTS

FEBRUARY 26, 2019

26) the launch of a new service that lets users pay their rent and school expenses each month with one of its credit cards. Over time, Citigroup plans to add additional categories for which credit cards can be used. We saw a significant 44 percent growth in digital lending penetration in 2018,” he told CNBC.

Payments 183

Payments Lending Cards Mobile 183

CFPB Monitor

JULY 8, 2019

The CFPB’s annual fair lending report covering its 2018 activities was published in today’s Federal Register. In addition to discussing the symposium and Data Point report in the section on “Access to Credit,” the new fair lending report discusses conducting supervisory reviews of alternative credit scoring models.

Lending 60

Lending Report Policies Compliance 60

PYMNTS

JANUARY 14, 2020

consumer banking and spending on credit cards. Management said on the conference call with analysts following the earnings release that average total loans, excluding loan sales in home lending, were up 3 percent year over year. Card transactions were up 10 percent on what CEO Jamie Dimon called a “robust” holiday season.

Cards 131

Cards Data Training Community Bank 131

CFPB Monitor

SEPTEMBER 11, 2018

The CFPB’s newly-released Summer 2018 edition of Supervisory Highlights represents the CFPB’s first Supervisory Highlights report covering supervisory activities conducted under Acting Director Mick Mulvaney’s leadership. On October 10, 2018, from 12 p.m. On October 10, 2018, from 12 p.m. Credit cards. to 1 p.m.

Lending 68

Lending Policies Compliance Cards 68

CFPB Monitor

OCTOBER 17, 2018

The CFPB’s Fall 2018 rulemaking agenda has been published by the Office of Information and Regulatory Affairs (OIRA) as part of its Fall 2018 Unified Agenda of Federal Regulatory and Deregulatory Actions. Business Lending Data. The Fall 2018 agenda reclassifies the Section 1071 rulemaking as a long-term action item.

Regulation 68

Regulation Compliance Lending Cards 68

PYMNTS

JANUARY 14, 2020

consumer banking and spending on credit cards. Management said on the conference call with analysts following the earnings release that average total loans, excluding loan sales in home lending, were up 3 percent year over year. Card transactions were up 10 percent on what CEO Jamie Dimon called a “robust” holiday season.

Cards 130

Cards Data Training Community Bank 130

PYMNTS

MARCH 30, 2018

That’s where the payroll card comes in, she said. Not only can the card act as a vehicle for direct deposit, it can also facilitate faster payroll payouts. Kittrell Paycard recently announced the integration of InstantWage, a mechanism for payroll card users to access their earned wages before payday. So, it’s not a loan.”.

Cards 133

Cards Payments Innovation Industry 133

PYMNTS

AUGUST 14, 2019

But these gripes still exist: Many banks often rely on a business owner’s credit score to underwrite a business loan, for instance, while business owners themselves will often use personal credit cards to make company purchases. There is a “blurring in the line between lending to small business and personal credit,” she added.

Lending 122

Lending Cards FDIC Capital 122

PYMNTS

OCTOBER 12, 2017

Banking giant JPMorgan reported results that bested Wall Street estimates on Thursday, buoyed in part by strong growth in its card business and mobile initiatives. Credit card sales and merchant volumes were up 13 percent. Total debit and credit card sales volume was up 11 percent year over year to $231.1 Revenues were $26.2

Cards 109

Cards Mobile Community Bank Conference 109

PYMNTS

OCTOBER 5, 2016

The use of prepaid cards has exploded over the last decade or so — in 2003 consumers put less than $1 billion on prepaid cards annually, but by 2012 that figure had grown to $65 billion and by 2018 that figure is projected to reach as much as $121 billion. The user base of prepaid cards has grown significantly as well.

Cards 189

Cards Google Tools Regulation 189

PYMNTS

MAY 24, 2019

In terms of contactless options, commuters can use Visa contactless cards , mobile devices or wearables. Data: 67 percent: Share of riders Visa estimates have missed trains while waiting in line for fare cards. 66 percent: Share of riders who have left funds unused on their fare cards.

New York City 134

New York City Payments New York Training 134

PYMNTS

MAY 22, 2018

household debt could hit $4 trillion primarily in the form of credit cards and auto loans, which have been steadily climbing. By itself, that’s not terrible news: Debt is a tool — one that many consumers had been locked out of for several years following the recession as banks pulled back their lending to all put the most prime of customers.

Lending 108

Lending Cards Maine Comparison 108

PYMNTS

JANUARY 15, 2019

15), earnings for the fourth quarter of 2018 came in at $1.98 Rising interest rates helped boost results for the consumer lending business and credit cards, while perhaps predictably, the mortgage lending business slipped, off 30 percent from last year’s $24.4 Home lending was off by 8 percent from $1.4

Mobile 139

Mobile Lending Cards Community Bank 139

Abrigo

DECEMBER 17, 2019

Carding shops offer bulk sales on compromised payment card data. Carding shops are underground marketplaces that traffic in compromised payment card data. These marketplaces facilitate the movement of compromised payment card data from hackers to fraudsters, often across faraway geographies. Fraud Prevention.

Fraud 307

Fraud Tools social media Cards 307

PYMNTS

JANUARY 7, 2020

That unit will include the company’s online lending platform, Marcus , and credit card business, the latter of which is done through a joint venture with Apple. billion seen in December 2018. That includes Marcus and the Apple Card. Yet Marcus has lost $1.3 billion across three years.

Report 134

Report Apple Lending Cards 134

FICO

MAY 10, 2018

Alliant Credit Union , one of the largest credit unions in the United States, has transformed its consumer lending business and is exceeding its lending goals since implementing FICO technology solutions in 2016. Credit card applications can now close in less than half an hour, and auto loans can be funded the same day. “As

Lending 61

Lending United States System Cards 61

Abrigo

JULY 5, 2020

Credit unions like Telhio Credit Union in Central Ohio had employees working around the clock to help with PPP loans, and they used an SBA lending solution that automated the origination process, as well as the forgiveness and administration phases. The SBA didn’t break out larger credit union PPP lending activity.) SBA Lending.

Technology 195

Technology Lending Capital Meeting 195

PYMNTS

JANUARY 7, 2020

That unit will include the company’s online lending platform, Marcus , and credit card business, the latter of which is done through a joint venture with Apple. billion seen in December 2018. That includes Marcus and the Apple Card. Yet Marcus has lost $1.3 billion across three years.

Apple 132

Apple Lending Cards Report 132

PYMNTS

FEBRUARY 20, 2018

Late payments and out-and-out defaults and charge-offs are on the rise across a few lending segments. A fair portion of that interest rate, according to the Fed, was an uptick in mortgage lending. Revolving outstanding credit, made up primarily of credit cards, increased at a 13.3 Credit Card Troubles. percent annually.

Lending 105

Lending Cards America New York 105

PYMNTS

OCTOBER 15, 2018

Barry Rodrigues, CEO of cards and payments at Barclaycard International, told Financial Times that the new offering would “leverage Barclays’ U.K. online bank, which already offers credit cards, savings and loans to 13 million customers. Barclays is ready to offer U.S. It recently rolled out its services in the U.K.,

Digital Banking 187

Digital Banking Cards Online Branding 187

PYMNTS

MARCH 12, 2020

Plaintiffs in a case that alleged JPMorgan Chase charged clients too much for buying digital currencies with their credit cards have reportedly arrived at a settlement with the bank, CoinDesk reported. However, she reportedly noted that the institution halted the processing of credit card digital currency purchases due to credit risk.

New York City 132

New York City New York Cards Lending 132

PYMNTS

AUGUST 20, 2019

The percentage of credit card-eligible Gen Zers who carry a balance increased by 41 percent between Q2 2018 and Q2 2019, according to a new report from TransUnion , reaching a total of 7.75 Far more millennials and Gen Xers make use of credit cards than Gen Zers – at 38.29 Credit cards, however, show the greatest strength.

Millennials 124

Millennials Cards Lending Data 124

PYMNTS

MAY 21, 2018

Credit Card’s Profit Squeeze. Credit card companies, faced with an increase in costs associated with rewards and rising loan losses, have seen their profitability dip of late. The balances on credit cards have grown at a fast pace — up 7 percent year over year in the early part of 2017. the CEO said.

Seattle 100

Seattle Taxes Cards Data 100

PYMNTS

OCTOBER 1, 2020

For instance, instant payments are most prevalent in the worlds of wages, insurance disbursements and lending payouts, according to the survey results. percent as of 2018. However, only 51 percent of receivers said they were offered a payment choice for insurance- and lending-related payouts. percent in 2019 and 9.5

Trends 306

Trends Study Taxes Payments 306

PYMNTS

APRIL 30, 2018

Marketplace lending. According to a Crunchbase article published in February of 2018, investments in blockchain and blockchain-related startups (excluding initial coin offerings, or ICOs) were already 40 percent of what they were in 2017. billion in 2018 growing to $1.1 billion in 2018 growing to $1.1 Blockchain.

Fintech 183

Fintech blockchain Lending Digital Banking 183