Consumer Spending Climbs in August
Consumer spending recovered in August as steady income growth and employment gains led more Americans to auto dealerships and retail stores, the Commerce Department said Monday.
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Arrow Global Group, a UK-based buyer of delinquent debt from credit card companies and banks, will acquire rival Capquest from a private equity fund for $258 million. more »
A U.S. appellate court on Wednesday upheld a district court ruling that several defendants operated a scheme selling phony debt relief programs and mortgage assistance. more »
Consumer default rates rose slightly in August, reversing a downward trend, according to the latest S&P/Experian Consumer Credit Default Indices. more »
The ability to stop using credit cards and pay cash for purchases can be a sign of financial stability as it proves a person’s lifestyle is in line with their income, according to an industry association. Not surprisingly, many people are in the danger zone. more »
The bankers involved don't want to talk about it. But listen closely and read between the lines, and you can see why they might be willing to sacrifice some fees to participate in Apple's mobile payment platform. more »
Fueled by demand for auto loans and higher credit card balances, U.S. consumer borrowing soared in July and posted its biggest jump since November 2001. more »
Rich Walker is a managing director with Winterberry Group, where he leads the financial service practice.
Fair lending is a key consideration for any consumer lending program. According to the "effects test" or disparate impact doctrine used by the Consumer Financial Protection Bureau, credit card issuers must avoid not only direct, intentional discrimination but also practices that have the effect of discrimination. more »
WASHINGTON — The Consumer Financial Protection Bureau issued a warning Wednesday to credit card companies that use deceptive marketing to mask hidden charges within promotional interest rates. more »
Balances on new cards are still below levels reported before the 2008 recession, despite an increase in open accounts. more »
A new report from TransUnion indicates consumers are doing a better job of making timely payments even as lenders extend credit more often to people with troubled credit histories. more »
Default rates fell slightly in July to the lowest mark in more than 10 years, according to the S&P/Experian Consumer Credit Default Indices released Tuesday. more »
AB Acquisition LLC, an Idaho-based company that owns and operates several supermarket chains, reported confirmed that customers' credit and debit card data may have been compromised in a data breach. more »

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