U.S. credit card debt hit $870 billion — the largest amount ever — as of Dec. 31, according to data from the Federal Reserve. Credit card balances rose by $26 billion from the prior quarter.
The secretary of housing and urban development plans to "finish out this term" but wants to return to "the private sector because I think you have just as much influence, maybe more."
The decision shows how hard it is to prosecute an individual banker; reports say Nordea, the Nordic area’s largest bank, handled suspicious transactions.
The slow U.S. adoption of real-time payments hurts half of Americans who live paycheck to paycheck, says Aaron Klein, a fellow at the Brookings Institution.
The industry cheered the bureau’s proposed repeal of its ability-to-repay requirement, but another part of the rule — on account debit restrictions — was left intact, and some companies aren’t ready to comply.
The banks have no choice but to pick a new name, marketing experts say, but good luck: The best ones may already be taken, made-up names can sound forced, and any change might nudge more customers to rethink their loyalties.
Add the Alabama company to the list of lenders that are disappointed in the returns on loans made through car dealers and the ability to build broader relationships with those borrowers.
Following a congressional mandate, the consumer bureau solicited public feedback on Property Assessed Clean Energy loans, which have been deemed risky by the Federal Housing Administration.
