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Diversified Financials Consumer Finance

  • NEW YORK, Dec 22- President elect Donald Trump is pro-business and anti-red tape. "Change is itself a driver of regtech adoption," said David Buxton, the chief executive of compliance startup Arachnys. Founded in London in 2010, Arachnys helps financial services firms carry out anti-money laundering and other compliance checks by automating the analysis of...

  • NEW YORK, Dec 22- President elect Donald Trump is pro-business and anti-red tape. "Change is itself a driver of regtech adoption," said David Buxton, the chief executive of compliance startup Arachnys. Founded in London in 2010, Arachnys helps financial services firms carry out anti-money laundering and other compliance checks by automating the analysis of...

  • *FTSE 100 up 0.4 pct. By Kit Rees and Alistair Smout. LONDON, Dec 20- Britain's top share index rose to a two-month high on Tuesday, helped by gains in Carnival and strength in the bank sector after Lloyds rose after a deal to buy a credit card business.

  • LONDON, Dec 20- Lloyds Banking Group is buying the MBNA UK credit card business from Bank of America for 1.9 billion pounds in an effort to increase profit and reduce its reliance on mortgage lending. Analysts said the move represented a good use of the bank's excess cash, but warned it carried some risks given Britain's uncertain economic outlook following the...

  • Joel Waldfogel, U.S. economist, has not wavered in his belief that the "orgy of wealth destruction" each Christmas needs to change.

  • TABLE-DELINQUENCY RATES ROSE AT 5 MAJOR U.S. Dec 15- Delinquency rates rose at five major U.S. banks and credit card companies in November, and remained unchanged at one, American Express Co. Charge-offs rose at four companies, fell at JPMorgan Chase and remained unchanged at American Express. Net charge off rate Delinquency Rate.

  • MEXICO CITY, Dec 15- Some Mexican banks are lowering credit card spending limits and raising consumer lending standards in the face of an economic slowdown, rising interest rates and the U.S. election victory of Donald Trump. After a period of robust overall credit growth, Mexican banks are cutting credit card exposure to counter a potential rise in consumer...

  • Wells Fargo's sales practices have been under a spotlight since September when regulators ordered the bank to pay $190 million in fines and restitution to settle charges that its employees opened as many as 2 million deposit and credit card accounts without customers' permission. Former Wells Fargo employees have blamed the San Francisco- based bank's...

  • *China's millennials among most indebted of their peers in Asia. *Boost consumption, economy, but a risk for China's debt. SHANGHAI, Dec 12- Ma Yiqing, 24, is typical of China's younger generation- he uses his credit card frequently and borrows from online platforms to fund his shopping habits.

  • *China's millennials among most indebted of their peers in Asia. *Boost consumption, economy, but a risk for China's debt. SHANGHAI, Dec 12- Ma Yiqing, 24, is typical of China's younger generation- he uses his credit card frequently and borrows from online platforms to fund his shopping habits.

  • WASHINGTON, Dec 7- Bank lobbying groups are pressing the U.S. Senate to once again work on reforming the country's consumer financial watchdog agency- but this time around they may see those changes become reality. In a letter to Senate leaders released on Wednesday the groups, including the Consumer Bankers Association and the Credit Union National...

  • On his website, President-elect Donald Trump blames Dodd-Frank's "bureaucratic red tape and Washington mandates" for strangling economic growth. Enforcement defendants and their lawyers have also spent the past few years complaining bitterly about the SEC's increased use of administrative proceedings- which take place before in-house judges, under...

  • WASHINGTON, Dec 7- Bank lobbying groups are pressing the U.S. Senate to once again work on reforming the country's consumer financial watchdog agency- but this time around they may see those changes become reality. In a letter to Senate leaders released on Wednesday the groups, including the Consumer Bankers Association and the Credit Union National...

  • NEW YORK, Dec 7- Want to save a few quick bucks on your holiday shopping? Your credit card may offer some little-known perks that could save you money both upfront and after the purchase. "These perks can really help in certain circumstances, but most people don't know that they are there to be taken," said Matt Schulz, senior industry analyst at creditcards.com.

  • Dec 6- Blackstone Group LP Chairman and CEO Steve Schwarzman said on Tuesday he expected to see a "very substantial reversal of regulations of all types," for the financial sector, following Donald Trump's U.S. presidential election victory. Trump has pledged to dismantle the 2010 financial overhaul known as Dodd-Frank, and Republicans in Congress have already...

  • Wells, in a September settlement with the U.S. Consumer Financial Protection Bureau and other regulators, agreed to pay $185 million in penalties and $5 million to customers for opening up to 2 million deposit and credit-card accounts in their names without their permission. The Justice for Victims of Fraud Act of 2016, introduced by Senate Banking Committee...

  • CANNES, France, Dec 1- British shoppers will soon be able to decide to spread the cost of a purchase over a series of monthly instalments at the point of making a payment with their credit card, in a new partnership between Mastercard Inc card machine maker VeriFone Systems Inc.. The "Mastercard Intalments" app- the first of its kind in Britain- will launch on VeriFone...

  • Cyber Monday

    Hey, big spender! If you checked off your shopping list on the web, you may have skipped this levy.

  • WASHINGTON, Nov 28- The U.S. Consumer Financial Protection Bureau on Monday released guidance on how companies should use incentives to get higher productivity out of workers, showing it is making good on its promise to scrutinize possibly compromising practices after the Wells Fargo scandal. The CFPB, a consumer watchdog, and other regulators in September...

  • *Oil prices fluctuate on uncertainty regarding OPEC deal. The three major U.S. indexes closed higher for the third week in a row on Friday, with the S&P 500 notching its seventh record close since Nov. 8. The S&P 500 has jumped 3.4 percent since Nov. 8, while the small-cap Russell 2000 has soared 11.9 percent.