Obligo has raised $35 million in new funding to accelerate the growth of its flexible security deposit solutions for the residential rental market and to launch additional products. The company has experienced rapid growth and is moving closer to profitability, according to a Monday (Oct....
Earnings reports this season, particularly from banks, have taken note of the resilience in consumer spending, especially on debit and credit cards, in various areas of discretionary activity, including dining out and travel. But some stats and commentary from banks also hint at the pressures...
America’s biggest banks say consumers are still spending in spite of inflation. As Reuters reported Friday (Oct. 11), earnings from two of the country’s biggest banks — and optimistic commentary from their executives — could make investors less worried that high borrowing costs were pressuring...
Lower inflation and interest rates may give some relief to consumers who need it most, Wells Fargo CEO Charlie Scharf said Friday (Oct. 11). Speaking during the company’s quarterly earnings call, Scharf said the bank has not seen changes in delinquencies or spending that would...
July 22, 2024
T.S. Eliot wrote that the world would end not with a bang but a whimper. It may be the case that the unstoppable wave of consumer spending may end that way too, and not with a full-fledged slamming on the brakes — a wallop that hits merchants all at once. We may see a pulling […]
April 19, 2024
The looming specter of wire fraud has spurred lawmakers to press big banks for better defenses against bad actors — and a detailing of the impact the scams have had on consumers....
April 09, 2024
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 state of consumer spending and...
January 17, 2024
Labels are popular on Capitol Hill. And this week the labels are flying fast and furiously, aimed at big banks and credit unions. The Consumer Financial Protection Bureau (CFPB) put...
October 30, 2024
Bank of America may ask a court to resolve the Consumer Financial Protection Bureau’s (CFPB) investigation of the bank’s processing of payments through the Zelle network. The bank said in a Tuesday (Oct. 29) filing with the Securities and Exchange Commission (SEC) that it has been responding to the CFPB’s inquiry. “The CFPB staff has […]
October 21, 2024
Obligo has raised $35 million in new funding to accelerate the growth of its flexible security deposit solutions for the residential rental market and to launch additional products. The company...
October 13, 2024
America’s biggest banks say consumers are still spending in spite of inflation. As Reuters reported Friday (Oct. 11), earnings from two of the country’s biggest banks — and optimistic commentary...
October 11, 2024
Lower inflation and interest rates may give some relief to consumers who need it most, Wells Fargo CEO Charlie Scharf said Friday (Oct. 11). Speaking during the company’s quarterly earnings...
