And it means the Baton Rouge, Louisiana resident will be paying roughly $2,580 in interest over the life of the roughly $25,000 loan. About 30 percent of all new vehicles financed in the first three months of the year were purchased with loans ranging from just over six to seven years, according to Experian Automotive. People are hanging on to their cars for longer...» Read More
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,...
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...
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'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.