credit

AI’s Growing Role in Finance Brings Opportunity and Risk, House Panel Finds
AI’s Growing Role in Finance Brings Opportunity and Risk, House Panel Finds
July 18, 2024  |  artificial intelligence

Artificial intelligence (AI) is set to revolutionize finance and housing, bringing both game-changing benefits and thorny new risks that demand vigilant oversight, a bipartisan House...

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US Bancorp: Credit Card Volumes Surge, Loan Delinquencies Stabilize
US Bancorp: Credit Card Volumes Surge, Loan Delinquencies Stabilize
July 17, 2024  |  Earnings

Bank earnings continue to show credit remains a key payments choice. U.S. Bancorp’s earnings, released Wednesday (July 17) indicated that within the company’s payment services...

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Synchrony Sees Digital Mix Key to Navigating Uncertain Environment
Synchrony Sees Digital Mix Key to Navigating Uncertain Environment
July 17, 2024  |  Earnings

In today’s uncertain environment, consumers want one thing: choice. That’s because macroeconomic uncertainty over inflation and interest rates is rocking consumer behavior and affecting big-ticket...

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Credit Card Retail Payments Fall by 18% Amid Budget Pressures
Credit Card Retail Payments Fall by 18% Amid Budget Pressures
July 16, 2024  |  Credit Cards

As consumers continue to face financial pressures, many are shifting away from credit payments for retail purchases, instead playing it safe with debit. By the...

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PNC: Commercial Real Estate Drives 8% Rise in Net Loan Charge-Offs
PNC: Commercial Real Estate Drives 8% Rise in Net Loan Charge-Offs
July 16, 2024  |  Earnings

PNC Financial Services Group saw expected increases in total nonperforming loans and net loan charge-offs in the second quarter. The increases were primarily due to...

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Bank of America: Consumers Still Have Borrowing Power Left on Their Credit Cards
Bank of America: Consumers Still Have Borrowing Power Left on Their Credit Cards
July 16, 2024  |  Earnings

For Bank of America, digital channels have represented avenues of continued growth, making inroads with credit card spending in particular. According to management, there’s still...

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Big Bank Earnings Show Mixed Signals on Consumer Credit Health
Big Bank Earnings Show Mixed Signals on Consumer Credit Health
July 15, 2024  |  Earnings

Get enough data points in place, and you have a trend. As bank earnings have started to roll in — thus far, from JPMorgan, Wells...

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Goldman’s Card Balances Up 11% as Management Is ‘Pleased’ With Credit Performance
Goldman’s Card Balances Up 11% as Management Is ‘Pleased’ With Credit Performance
July 15, 2024  |  Earnings

Goldman Sachs’ GreenSky sale is in the rearview mirror and its pivot from Main Street banking is ongoing. Its latest earnings results, released Monday (July...

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Citigroup’s 3% Branded Card Spend Growth Driven by Higher FICO Consumers
Citigroup’s 3% Branded Card Spend Growth Driven by Higher FICO Consumers
July 12, 2024  |  Earnings

Citigroup’s earnings results showed a bit of bifurcation in consumer spending, as higher credit scoring individuals continue to use their cards and lower FICO consumers...

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