NEW YORK, Sept 2- Millennials get plenty of recognition for frugality and their desire to share everything from cars to clothes, but they also have the lowest average credit score of any generation, according to a new study. "Millennials are misunderstanding, or are simply unaware of, the benefits of credit cards," says Sean McQuay, NerdWallet's resident credit card...» Read More
LOS ANGELES, March 18- Two changes to the U.S. consumer bankruptcy process could help some of the most trapped student loan borrowers free themselves from a modern-day debtors' prison. President Barack Obama last week directed three U.S. government agencies- the Department of the Treasury and Education as well as the Consumer Financial Protection Bureau- to...
WASHINGTON, March 17- Republican lawmakers took aim at the Dodd-Frank Wall Street reform law Tuesday, unveiling a plan that would gut regulators' authority to manage the collapse of big banks and give Congress direct control of the U.S. consumer finance bureau's budget. The proposal, led by House Budget Committee Chairman Tom Price, pledges to make "great strides...
SYDNEY, March 15- A consortium of private equity firm KKR& Co LP, alternative investment manager Varde Partners and Deutsche Bank has agreed to buy GE Capital's Australian and New Zealand consumer lending arm for A $8.2 billion. "GE Capital is one of the most respected providers of consumer finance in Australasia," said Ed Bostock, director of KKR Australia.
ATLANTA, March 10- President Barack Obama told students at Georgia Tech on Tuesday he wants to make the process of repaying student loans easier to understand and manage. The White House said 40 million Americans have student loans. The White House said it will require clearer disclosures from companies to make sure borrowers understand who is servicing their...
MasterCard reported a better-than-expected profit for the holiday shopping quarter as customers swiped their cards more often.
Singapore's efforts to rein in household debt and its sky-high home prices appear set for their first test as local rates begin to rise.
Yen weakness is driving up the cost of Japan's food imports, but analysts say pinched pocketbooks won't slow consumers' taste for meals from overseas.
The U.K. is taking steps to widen its Islamic finance market, boosting its industry credentials as competition intensifies among global financial centers.
The rate of US credit card payments at least 90 days overdue fell to its lowest level in at least seven years, according to TransUnion.
A majority of the bank customers who paid a debit card overdraft penalty fee in the last year, did not recall signing up for this service
London’s reputation as a leading financial hub has been hit, but some argue that financial technology could be its saving grace.
Americans will spend about $7.4 billion less on gifts and goodies for dads this Father's Day than they spent on moms for Mother's Day.
New research from the Consumer Financial Protection Bureau concludes that medical bills are unfairly lowering credit scores.
Consumer credit rose by the largest amount since February 2013, boosted by growing demand for student and auto loans.
Most of us have a positive experience when we use the Web. Credit unions, shipping companies, banks and hotels scored highest.
The California Department of Motor Vehicles has opened an investigation into a possible security breach of its credit card processing services, a spokesman for the agency said.
Keith Fitz-Gerald, Chief Investment Strategist, Money Map Press, says he is shifting his attention away from mergers and acquisitions in the technology field to the financial sector.
Credit card companies MasterCard and Visa said they had formed a new cross-industry group to enhance payment system security across networks.
The federal government accused ITT Educational Services, one of the largest for-profit post-secondary education chains, of making predatory loans.
Insure.com has ranked car insurance premiums in every state. Here are the five best and five worst places to find affordable auto insurance.