Neobank tackles problem of emergency medical debt


Better Financial offers customers up to $5,000 per year in accident coverage, prescription drug discounts and medical debt negotiation to certain account holders.


Budgeting app Charlie pivots to help users reduce debt


Initially created as a budgeting app, Charlie has added new features that help users visualize their debt and then chip away at balances. Eventually, it hopes to add more banklike products.


Subordinated debt rule gives big credit unions new path to growth


Starting in 2022, hundreds of newly eligible institutions will be able to raise funds from investors. Bankers argued that the change will further blur the line between the two industries.


Private student lenders need to reset ability-to-repay expectations


Jobs will be harder to find for graduates, and there are new underwriting platforms that can better predict students' future income in their chosen field.


Nonbank sector needs reform to combat risk to financial stability: Fed


Temporary policy responses have mitigated problems in the short-term funding markets related to the pandemic, but permanent fixes may be necessary in some areas, the agency said in a report.


Barrett could cement court’s restrictive view of debt collection cases


A 2019 decision by Amy Coney Barrett, then a 7th Circuit judge, cited an earlier Supreme Court ruling suggesting a high bar for plaintiffs to claim harm. But other jurists have favored a less onerous standard.


Bankers skeptical Fed’s Main Street program will pick up steam


Loan officers surveyed by the central bank said the subpar creditworthiness of some applicants and the ability of others to find credit elsewhere are among reasons the middle-market rescue facility has fizzled.


Credit unions' credit card balance declines mirror broader trend


The industry saw small gains in many loan categories during the second quarter, but credit cards declined. A new study from WalletHub shows the biggest quarterly drop in credit card balances in over 30 years.


Advice to debt collectors in pandemic times: Watch your language


Now perhaps more than ever, banks and their proxies need to show tact when communicating with past-due borrowers.


Fed's Powell: More stimulus needed from Congress


The Federal Reserve chairman pledged to use every tool at the central bank's disposal to limit the economic fallout from the coronavirus and urged lawmakers to take further action.