Poll Shows Many Could Not Keep Current Lifestyle Without Credit Cards
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.
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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 »
U.S. consumer debt dropped in the last quarter for the first time in a year as mortgage originations fell to the lowest mark since 2000, according to the Federal Reserve Bank of New York's latest quarterly report. more »
The Consumer Financial Protection Bureau last week sent letters to 10 of the country’s largest universities urging them to publish the terms of prepaid cards, debit cards and checking accounts that banks are promoting on their campuses. more »
A study released Tuesday found that the share of Americans in collections has remained steady even as the U.S. pares down the size of its credit card debt. more »
Total outstanding U.S. auto loans reached a record high of $902.2 billion through April, an increase of more than 10% from the same time a year earlier, according to the latest Equifax National Consumer Credit Trends Report released Thursday. more »

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