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Consumer Finance


  • AmEx profit rises 10.7 pct Wednesday, 21 Jan 2015 | 4:22 PM ET

    Jan 21- American Express Co, the world's largest credit card issuer, reported a 10.7 percent rise in fourth-quarter profit as customers in the United States spent more using its cards and the company earned higher net interest income. Net income rose to $1.45 billion, or $1.39 per share, for the fourth quarter ended Dec. 31, from $1.31 billion, or $1.21 per share, a year...

  • Jan 16- Two online payday lending companies linked to a professional racecar driver have agreed to pay a record $21 million to resolve charges by U.S. regulators that they engaged in deceptive practices, the Federal Trade Commission said on Friday. The settlement with Kansas- based AMG Services Inc, which serviced the loans, and MNE Services Inc, which lent to...

  • WASHINGTON, Jan 16- The U.S. Fed Chair Janet Yellen and other Fed officials have met with these groups from late last year to hear their concerns, a departure from the practice of previous central bank leaders. A provision to permanently establish a seat at the Fed board for a person with community banking experience awaits the signature of President Barack Obama,...

  • Fed to launch community advisory council Friday, 16 Jan 2015 | 10:00 AM ET

    WASHINGTON, Jan 16- The U.S. Federal Reserve announced on Friday it will establish a community advisory council of 15 citizens to meet regularly with central bank officials for a broad conversation on the state of the economy. In a statement, the Fed said the panel will have "a particular focus on the concerns of low- and moderate-income populations."

  • WASHINGTON, Jan 14- The head of the U.S. Chamber of Commerce charged on Wednesday that Senator Elizabeth Warren and other backers of what he called "economic populism" were actually seeking a state-run economy. Thomas Donohue, the chamber's president and a top business lobbyist, said he did not think most Americans shared the views of Warren, a liberal Democrat and...

  • Jan 14- Wells Fargo& Co, the fourth largest U.S. bank by assets, reported a slight increase in quarterly profit on Wednesday as it earned more from credit cards and corporate loans. Credit cards, one of Wells Fargo's major areas of expansion, were a bright spot as fees rose 12 percent to $925 million in the fourth quarter. Commercial and industrial loans jumped 15...

  • UPDATE 3-Wells Fargo profit rises on higher loan growth Wednesday, 14 Jan 2015 | 10:40 AM ET

    Jan 14- Wells Fargo& Co, the fourth largest U.S. bank by assets, reported a slight increase in quarterly profit on Wednesday as it earned more from credit cards and corporate loans. Credit cards, one of Wells Fargo's major areas of expansion, were a bright spot as fees rose 12 percent to $925 million. Commercial and industrial loans jumped 15 percent to $271.8 billion,...

  • Singapore property faces test as rates rise Thursday, 8 Jan 2015 | 9:07 PM ET

    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.

  • Taste for imports drives up Japan's grocery bill Sunday, 28 Dec 2014 | 5:43 PM ET

    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.

  • UK courts Islamic finance market Sunday, 2 Nov 2014 | 3:48 AM ET
    Booths at the Global Islamic Finance Forum in Kuala Lumpur, Malaysia, on Wednesday, Sept. 3, 2014.

    The U.K. is taking steps to widen its Islamic finance market, boosting its industry credentials as competition intensifies among global financial centers.

  • Credit card delinquency rate hits record low in Q2 Tuesday, 26 Aug 2014 | 12:15 PM ET
    credit card debt payment bill

    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.

  • Confusion still surrounds overdraft policies Saturday, 9 Aug 2014 | 7:00 AM ET
    A Visa debit card is shown at the center of other debit and credit cards in Washington.

    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 bank scandals aid ‘fintech’ dominance Wednesday, 25 Jun 2014 | 8:17 AM ET
    Canary Wharf, London

    London’s reputation as a leading financial hub has been hit, but some argue that financial technology could be its saving grace.

  • The holiday gift gap: Dads fare worse than moms Tuesday, 10 Jun 2014 | 11:00 AM ET

    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.

  • Credit alert! Unpaid medical bills hurt scores Wednesday, 21 May 2014 | 2:07 PM ET

    New research from the Consumer Financial Protection Bureau concludes that medical bills are unfairly lowering credit scores.

  • Consumer credit soars on auto, student loans Wednesday, 7 May 2014 | 3:55 PM ET
    Alain Filiz

    Consumer credit rose by the largest amount since February 2013, boosted by growing demand for student and auto loans.

  • Why we're not satisfied with social media sites Tuesday, 1 Apr 2014 | 8:00 AM ET

    Most of us have a positive experience when we use the Web. Credit unions, shipping companies, banks and hotels scored highest.

  • California DMV probing possible credit card breach Saturday, 22 Mar 2014 | 7:37 PM ET
    A security guard patrols the empty parking lot of the State of California Department of Motor Vehicles (DMV) in Pasadena, California.

    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.

  • Tech M&A deals have been 'preposterous': Pro Thursday, 20 Mar 2014 | 7:24 PM ET
    Tech M&A deals have been 'preposterous': Pro

    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.

  • MasterCard, Visa form new payment security group Friday, 7 Mar 2014 | 11:37 AM ET

    Credit card companies MasterCard and Visa said they had formed a new cross-industry group to enhance payment system security across networks.