Earnings season, so far — and chiefly through the big banks — is pointing to some strength in consumer credit. And that strength has been measured through FICO scores detailed by the FIs, in charge-off rates, and in general commentary on spending. Bank of America...
Lending standards have tightened and demand has weakened in the third quarter of 2023, according to the Federal Reserve’s October Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices, released Monday (Nov. 6). The survey showed that lending standards have tightened across various loan...
Rising delinquencies among subprime and near-prime borrowers reveal the strain of living paycheck to paycheck. In a spate of earnings reports these past few weeks, various lenders — banks and digital platforms among them — have spotlighted the fact that delinquencies and charge-offs are ramping...
In today’s top news, FedEx officially expanded home delivery to include Sundays, Uber’s CEO believes his company is the most likely ride-hailing service to reach profitability, and the OCC prepares a civil suit against 10 former Wells Fargo executives for their roles in its retail...
May 20, 2024
The Consumer Financial Protection Bureau (CFPB) is looking to improve “competition, choice and affordability” in credit reporting costs and other mortgage closing costs. In prepared remarks for a speech at a Mortgage Bankers Association conference, CFPB Director Rohit Chopra said Monday (May 20) that the agency is doing so at a time when mortgage lenders have told it that costs for credit reports and scores […]
November 06, 2023
Lending standards have tightened and demand has weakened in the third quarter of 2023, according to the Federal Reserve’s October Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices,...
