Bank card and closed-end loan delinquencies increased in last years fourth quarter but were still near record lows, as stated by the American Bankers Associations Consumer Credit Delinquency Bulletin.
Consumer borrowing to a record high in February, fueled by a big leap in student and automobile loans. The value of non-revolving debt rose by the most since July 2011.
Ninety-two percent of Americans are “very or somewhat confident” in their most recent large fiscal decision – such as deciding a charge card, purchasing an automobile or refinancing a mortgage, based on a survey by the National Foundation for Credit Counseling and NerdWallet.
Fair Isaac is developing a credit rating aimed at the huge numbers of individuals who are not able to acquire auto loans, charge cards and mortgages because lenders consider them to be overly speculative.
CardFlex Inc. and its principals have settled charges that they illegally processed more than $26 million in consumer costs on behalf of a firm called I Works.
A federal court has blocked the operations of an organization that calls itself “FTC Credit Solutions.” The organization used false association with the FTC to promote counterfeit credit fix services to Spanish-speaking consumers.
The charge card market increased strength in last years third quarter, with higher monthly purchase and more new accounts quantities across all risk groups, as stated by the American Bankers Associations latest Credit Card Marketplace Screen.
A national class-action lawsuit alleges credit bureau $10 charges before it puts security halts on the files of those who are coping with identity theft.
The Consumer Financial Protection Bureau announced its adding two new issues – skill and debt collection practices -to-refund standards – to a planned second charge card marketplace study which could result in enforcement measures and new rules
U.S. credit card debt soared by $57.1 billion – up 47% – in 2014 compared to 2013 and the outlook calls for the total to reach $60 billion this year, according to a new survey from CardHub.