Depending on one's perspective, the surge in consumer borrowing is either a normal byproduct of a booming economy or a worrisome trend that portends a wave of delinquencies when the next downturn hits.
The agency's lawsuit against the Rhode Island company — the first involving a bank under Director Kathy Kraninger — has challenged assumptions about its approach to enforcement.
Companies that scored highest in this year’s Best Fintechs to Work For ranking go beyond the basics of strong pay packages, generous benefits and effective leadership to take a more holistic interest in their employees’ lives, according to the data.
Higher rates are looming for transactions on e-commerce sites, while merchants in certain services categories, such as real estate and education, will see fees decline, according to a document Visa sent to banks.
The consumer bureau alleges the Providence, R.I., bank mismanaged billing error claims over a six-year period. Citizens Bank says it is “puzzled and disappointed” by the agency’s action.
The Wall Street bank aims to double consumer deposits and triple outstanding consumer loans in five years. A checking account is slated for 2021, and more cobranded credit cards could be coming.
The credit card lender has seen problem loans spike since it introduced a feature that lets at-risk customers restructure loans through its online and mobile channels.
