Bank of America credit card metrics were mixed in August, with a slightly higher delinquency rate but better net charge-offs, a Seeking Alpha report said Thursday (Sept. 15). The delinquency rate was up 0.3 percentage points from July, hitting 0.88% from 0.85%. But it was...
Debt from credit cards hit a record high in 2019, driven by young borrowers and aggressive spending, according to The Wall Street Journal. Despite a healthy economy and robust job market, the number of people who fell behind on payments increased. The total balance on credit...
The CEO of online split payments company Klarna, Sebastian Siemiatkowski, gave a lengthy interview to a news outlet about the future of the company and where he plans to take it. Klarna is a 15-year-old company that has a valuation of over five billion dollars....
The average interest rates on credit cards are nearing record levels, in spite of a 50-basis-point decline on a 10-year note yield. Bloomberg is reporting that the U.S. prime lending rate, which banks charge to their best credit customers, is now at almost its lowest...
August 21, 2018
While the Great Recession technically began in Dec. 2007, most people remember a different date as the “real” start to the Great Recession: Sept. 15, 2008. That was the day Lehman Brothers officially filed for bankruptcy. Six days later, The New York Times reported that Bear Stearns was dangling on the edge of bankruptcy and a forced liquidation after it posted […]
May 07, 2024
Neobank Dave said it improved its credit performance over the past year with the use of artificial intelligence (AI). Between the first quarter of 2023 and the first quarter of 2024, Dave reduced its 28-day delinquency rate from 2.60% to 1.83%, the company said in a presentation released Tuesday (May 7) in conjunction with its quarterly earnings call. […]
September 15, 2022
Bank of America credit card metrics were mixed in August, with a slightly higher delinquency rate but better net charge-offs, a Seeking Alpha report said Thursday (Sept. 15). The delinquency...
February 12, 2020
Debt from credit cards hit a record high in 2019, driven by young borrowers and aggressive spending, according to The Wall Street Journal. Despite a healthy economy and robust job market,...
December 12, 2019
The CEO of online split payments company Klarna, Sebastian Siemiatkowski, gave a lengthy interview to a news outlet about the future of the company and where he plans to take...
