consumer finance

Equifax Says 85% of Its New Models Built With AI
Equifax Says 85% of Its New Models Built With AI
April 18, 2024  |  artificial intelligence

Consumer credit bureau Equifax said artificial intelligence (AI) is playing an increasing role in its operations.  In announcing the company’s quarterly earnings Thursday (April 18), management noted that...

READ MORE >
Credit Card Late Fee Cap Has Winding Path Ahead In Congress
Credit Card Late Fee Cap Has Winding Path Ahead In Congress
April 18, 2024  |  Credit Cards

Out of committee…and now the path is a winding one for the proposed repeal of the Consumer Financial Protection Bureau’s (CFPB) rule that would cap credit...

READ MORE >
Marqeta and Rain Team to Offer Earned Wage Access Debit Cards
Marqeta and Rain Team to Offer Earned Wage Access Debit Cards
April 18, 2024  |  Consumer Finance

Marqeta is expanding its earned wage access program with assistance from financial wellness provider Rain. The card-issuing platform announced its collaboration with Rain Thursday (April 18), with...

READ MORE >
Nearly Half of US Consumers Earning $100K+ Live Paycheck to Paycheck
Nearly Half of US Consumers Earning $100K+ Live Paycheck to Paycheck
April 18, 2024  |  Consumer Finance

According to PYMNTS Intelligence, 62% of U.S. consumers now live paycheck to paycheck, and that includes 48% of consumers earning more than $100,000 annually. In...

READ MORE >
Fed’s Beige Book Cites Weak Discretionary Spending
Fed’s Beige Book Cites Weak Discretionary Spending
April 17, 2024  |  Economy

Eight times each year the Fed publishes what’s known as the Beige Book — a qualitative take from each of the 12 federal bank districts....

READ MORE >
Klarna Credit Card to Roll Out in US Within Months
Klarna Credit Card to Roll Out in US Within Months
April 17, 2024  |  Payment Methods

Klarna has opened its waitlist for the new Klarna Card to all U.S. consumers and said the credit card will roll out over the next few months....

READ MORE >
Earnings Season and FICO Data Point to ‘Strong’ Consumer Credit Profiles
Earnings Season and FICO Data Point to ‘Strong’ Consumer Credit Profiles
April 16, 2024  |  Consumer Finance

Earnings season, so far — and chiefly through the big banks — is pointing to some strength in consumer credit. And that strength has been...

READ MORE >
Bank of America: 1Q Zelle Volumes Surge 26% to $106 Billion
Bank of America: 1Q Zelle Volumes Surge 26% to $106 Billion
April 16, 2024  |  Earnings

Bank of America’s first quarter results took note of continued use of digital channels in banking — and for payments, too. The bank recorded 3.4...

READ MORE >
Bank Earnings May Highlight Volatile Consumer Spending
Bank Earnings May Highlight Volatile Consumer Spending
April 09, 2024  |  Earnings

Friday marks the beginning of earnings season. And, as is always the case, every three months, the big banks will give a glimpse into the...

READ MORE >