A global shipping company is reeling after Amazon apparently pulled business to focus on its own logistics, according to a report from Bloomberg. XPO Logistics, one of the world’s largest transportation and warehouse operation companies, is looking for a buyer for $1 billion worth of...
Student debt in arrears has hit record highs as measured by data gleaned from the Federal Reserve Bank of New York, Bloomberg reports. The newswire said on Monday (Feb. 18) that per the Fed’s quarterly household debt report, the third and fourth quarters of last...
You know the story. Critics say that short-term, small-dollar loans push consumers into the hamster wheel of a never-ending debt cycle – one that turns a two-day bridge to cover a shortfall into a six-month mosh pit of fees that can become hard to dig out from...
The Federal Reserve revealed Monday (February 5) that an increasing number of banks have gotten stricter with the underwriting of some loans during the last quarter of 2018 and that they are bracing for loan demand and performance to decline. According to a report in The...
Student debt in America has grown to staggering proportions. By the end of 2018, 44 million Americans collectively held $1.5 trillion in debt related to the pursuit of education. Today around 70 percent of students graduate from college with some kind of student loan debt,...
For big bank loans taken out before April of 2018, prospects of repayment are good, federal banking regulators said on Friday (Jan. 25). However, the portion of loans owed by strongly leveraged borrowers is still high. Reuters reported that the U.S. Federal Reserve, Federal Deposit...
The European Central Bank warned Tuesday (January 22) that eurozone banks are planning on tightening credit standards when it comes to business and housing loans during the first three months of the new year. According to a report in Reuters citing the European Central Bank’s quarterly...
Microlending – or small loans (less than a few hundred dollars) – has become a popular, buzzed-about method of poverty relief over the last few decades. As of 2013, there were 211 million micro-borrowers worldwide; as of 2018, that number was nearly 240 million. The...
As Friday (Jan. 11) came and went and government workers affected by the 21-day shutdown didn’t receive paychecks, U.S. banking regulators asked lenders to help workers who couldn’t pay their bills or needed credit in the meantime, according to a report from Reuters. “The agencies...
