LendingClub and AI lending network Pagaya have acquired Tally Technologies’ intellectual property. Tally, a FinTech that helped consumers manage credit card debt, closed its doors in August. As the two buyers noted in a news release Wednesday (Oct. 9), the company also created an “embedded,...
The initial euphoria that greeted the Federal Reserve’s decision this past week to cut interest rates for the first time in four years was keenly felt on Wall Street. The Dow Jones Industrial Average, widely used as a proxy for investor sentiment, soared to new...
Americans’ struggles with their bills has reportedly been bad news for consumer lending firms. Shares in those companies fell last week following warnings from executives about lower-income customers struggling to stay on top of payments, The Wall Street Journal (WSJ) reported Saturday (Sept. 14). Also...
The only question surrounding rate cuts from the Federal Reserve boils down to not “when?” but … “how much?” The central bank seems all but certain to tamp down interest rates, cutting the Fed Funds rate for the first time in almost exactly four years....
October 09, 2024
Despite the volatility month to month on credit card debt, per government reports, the trend remains, generally, upward and to the right. And for consumers already shouldering that card debt, where historically high interest rates are a hallmark, even with recent interest rate cuts, personal loans and debt consolidation offerings beckon. The latest consumer credit […]
September 23, 2024
The initial euphoria that greeted the Federal Reserve’s decision this past week to cut interest rates for the first time in four years was keenly felt on Wall Street. The...
August 06, 2024
Delinquency rates are unchanged, at least in the second quarter. But debt is still rising, indicating the pressures of recent and continued spending on credit cards, on new auto loans...
October 24, 2023
Consumers across income levels, credit scores and generations have accumulated high levels of debt. In fact, credit card debt recently surpassed $1 trillion for the first time. With this backdrop,...
October 09, 2024
LendingClub and AI lending network Pagaya have acquired Tally Technologies’ intellectual property. Tally, a FinTech that helped consumers manage credit card debt, closed its doors in August. As the two buyers noted in a news release Wednesday (Oct. 9), the company also created an “embedded, white-label business-to-business credit card debt management platform.” LendingClub, which helps […]
September 15, 2024
Americans’ struggles with their bills has reportedly been bad news for consumer lending firms. Shares in those companies fell last week following warnings from executives about lower-income customers struggling to...
March 25, 2024
Credit card delinquencies fell slightly last month while net charge-offs continued with their upward trajectory. That’s according to a report Monday (March 25) by Seeking Alpha, citing data from eight...
February 16, 2024
The Consumer Financial Protection Bureau (CFPB) aims to boost competition in the credit card industry to deliver lower rates to consumers. The agency announced this plan while releasing data showing...
