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FICO’s New Groove

PYMNTS

With the possible exception of a social security number, a credit score is really one of the more impactful set of digits in a consumer’s life. By comparison, the much more widely hated institution of payday lending receives less than a quarter of the complaints from its customers that the credit ranking agencies do.

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Predicting the Next Banking Crisis Is a Fool’s Game. Not Learning From the Last One: Equally Foolish

Jeff For Banks

More recently and by comparison, the mortgage meltdown and subsequent global financial crisis took down more than 500 banks between 2007 and 2014, with total assets of nearly $959 billion. The old borrow short, lend long strategy. And quite frankly, I did not know there were so many tranches to mortgage-backed securities.

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Axos Invest Review: Automate Your Investment Portfolio

MyBankTracker

Tax loss harvesting and unlimited automatic rebalancing. Are Tax Loss Harvesting and Automatic Rebalancing Included? Tax loss harvesting and rebalancing are both good features to have with an online brokerage account. This can help you pay less in taxes on your investment gains for the year. More tax-efficient.

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US Bankcards Industry Benchmarking Trends: 2023 Q1 Update

FICO

Inflation (the year-over-year comparison of the Consumer Price Index) continued to slow in March to 5%; however, prices continue to rise month-over-month. Rates typically peak after holiday shopping then come down as consumers receive their tax refunds and use it to pay down debt. from February 2023 to March 2023.

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Fintech Fundings: 114 Companies Raised $7.3 Billion in April

Fintech Labs Insights

Marketplace small business lending platform. Deposit price comparison site. Payment security technology. Income tax service. Health insurance comparison site. Personal loan comparison site. Tags: Consumer, lending, credit, underwriting, discovery, quotes, lead gen. Total raised: $224.9 million Seed.

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Fintech Fundings: 13 Companies Raise $900 Million Week Ending Nov 12

Fintech Labs Insights

Lending marketplace targeting Hispanic-owned small businesses. Tags: Enterprise, fraud, security, online banking, payments, API, developers, big data. Source: Crunchbase. Bread Finance. Unsecured consumer financing of purchases. Latest round: $14.3 million Series A. Total raised: $14.3 HQ: New York City. Source: Crunchbase , WSJ.

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CFPB Enters Into Consent Order With Reverser Mortgage Lender and Broker

CFPB Monitor

Nationwide claimed taking out a reverse mortgage loan “[e]liminates monthly mortgage payments” while allowing the borrower to “[s]tay in your home,” with “[l]oan proceeds [that] are tax-free.”. The CFPB noted that a consumer could lose their home to foreclosure for the nonpayment of taxes and insurance.

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