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  • COLUMN-Excuse-free guide to student loan repayment Monday, 27 Oct 2014 | 11:08 AM ET

    LOS ANGELES, Oct 27- The six-month grace period for many student loans is about to expire for new college graduates. If the past is any guide, many people will miss their first payment and some will end up defaulting on their loans- even though there's usually no good reason for that to happen. The typical borrower with student loan debt has four loans, according to a...

  • WASHINGTON, Oct 22- U.S. securities regulators adopted a rule on Wednesday designed to avert another financial crisis, but two officials dissented, saying it did not do enough to discourage banks from lending to borrowers with shaky credit and then passing the mortgage risk to investors. The Securities and Exchange Commission approved the so-called "risk...

  • WASHINGTON, Oct 21- U.S. regulators on Tuesday issued a rule requiring banks that sell loans to investors to keep part of the risk on their own books, a measure aimed at preventing the sloppy loans that sparked the 2007-09 credit crisis. "Lenders have wanted and needed to know what the new rules of the road are and this rule defines them," said Mel Watt, the head of the...

  • WASHINGTON, Oct 21- U.S. regulators on Tuesday issued a rule requiring banks that sell loans to investors to keep part of the risk on their own books, a measure aimed at preventing the sloppy loans that sparked the 2007-09 credit crisis. "Lenders have wanted and needed to know what the new rules of the road are and this rule defines them," said Mel Watt, the head of the...

  • WASHINGTON, Oct 21- The U.S. Federal Deposit Insurance Corp unveiled a final rule on Tuesday that requires banks to retain at least 5 percent of the risk on their books when they bundle loans, securitize them and sell them to investors. The rule, expected to be adopted by the FDIC later on Tuesday, aims to prevent a repeat of the 2007-2009 financial crisis, when banks'...

  • Oct 21- Staples Inc is investigating a possible breach of payment card data and has contacted law enforcement about the matter, making it the latest U.S. retailer to become a possible victim of a cyberattack. "Staples is in the process of investigating a potential issue involving credit card data and has contacted law enforcement," company spokesman Mark Cautela...

  • Oct 21- Staples Inc said late Monday evening it is investigating a possible breach of payment card data and has contacted law enforcement about the matter, making it the latest U.S. retailer to become a possible victim of a cyberattack. "Staples is in the process of investigating a potential issue involving credit card data and has contacted law enforcement,"...

  • Obama's executive order comes after many large companies including Target, JPMorgan and Home Depot have suffered high-profile cybersecurity breaches. The White House said that Home Depot, Target, Walgreen and Wal-Mart Stores will roll out secure chip and PIN-compatible card terminals in all their stores, most by January. In addition, American Express plans...

  • *Third-quarter net profit $1.86/ share vs est $1.94. Oct 16- Capital One Financial Corp, one of the largest credit card issuers in the United States, reported a lower-than-expected quarterly profit as it set aside more money to cover soured loans. The company's net income attributable to shareholders fell 2.9 percent to $1.06 billion, or $1.86 per share, for the...

  • Oct 15- American Express Co, the world's largest credit card issuer, reported an 8.1 percent rise in quarterly profit due to higher spending by U.S. customers using its credit cards and a rise in its net interest income. AmEx, which issues its own cards unlike Visa Inc and Mastercard Inc that work through banks, benefits from its largely affluent customer base and...

  • American Express quarterly profit rises 8 pct Wednesday, 15 Oct 2014 | 4:14 PM ET

    Oct 15- American Express Co, the world's largest credit card issuer, reported an 8.1 percent rise in quarterly profit as customers spent more using the company's credit cards. Net income rose to $1.48 billion, or $1.40 per share, in the third quarter ended Sept. 30 from $1.37 billion, or $1.25 per share, a year earlier. Total revenue, net of interest expense, remained...

  • JPMorgan Chase& Co, Citigroup Inc and other big banks are making more credit card loans, after years of focusing mainly on customers who paid off their balances each month. Bank of America and Citigroup now make about 25 percent or more of their income from credit cards, after excluding businesses they are shedding. They are primed after seeing Citigroup, for...

  • Balances remaining on auto loans have risen by about a third since April 2011, reaching an all-time high of $924.2 billion in August, according to credit reporting bureau Equifax. The Consumer Financial Protection Bureau said in September that it is taking steps to oversee auto lenders that have previously been less regulated, and companies like GM Financial...

  • Oct 8- Citigroup Inc's consumer finance unit, OneMain Financial Holdings Inc, filed for an initial public offering of its common stock, a big step in the No. 3 U.S. bank's plan to sell unwanted assets and focus on wealthier clients. OneMain is part of Citi Holdings, which Citigroup created during the financial crisis to park assets that it wanted to eventually divest...

  • WASHINGTON, Oct 7- U.S. consumer credit increased less than expected in August and growth for the prior month was revised lower, giving a cautious signal about the pace of economic expansion. Total consumer credit rose $13.5 billion to $3.25 trillion in August, the Federal Reserve said on Tuesday. The figure for July was revised down to show a gain of $21.6 billion.

  • WASHINGTON, Sept 26- The Obama administration on Friday proposed changes to current lending rules toward military personnel and their families, to expand protections from predatory practices on a wider variety of loans and financial products such as credit cards.

  • WASHINGTON, Sept 25- U.S. financial regulators said on Thursday that US Bank will pay about $57 million to resolve allegations it charged consumers for services they did not actually receive.

  • NEW YORK/ BOSTON Sept 24- Your medical information is worth 10 times more than your credit card number on the black market.

  • MOSCOW, Sept 24- Russia's consumer credit market could stall next year, ending several years of break-neck growth as the economy slows and banks reduce lending, the head of one of the country's largest consumer lenders said.

  • Sept 19- For-profit college operator ITT Educational Services Inc disclosed on Friday that it may face civil charges by the U.S. securities regulator following investigations related to two private education loan programs for its students.