American Express Co. fell$. 23 or. 3 percent, to $74.75. Capital One Financial Corp. fell$. 12 or. 2 percent, to $61.98. Discover Financial Services rose$. 20 or. 4 percent, to $48.09.» Read More
*Rules take effect in January 2014. WASHINGTON, Jan 17- The U.S. Consumer Financial Protection Bureau announced new rules for mortgage servicers on Thursday to help prevent the sloppy practices that aggravated the U.S. foreclosure crisis.
*Expects Q4 EPS $0.56, adj EPS $1.09. Jan 10- Credit card company American Express Co said it would cut about 5,400 jobs, or 8.5 percent of its workforce, as it restructures its business and pay legal bills. American Express tends to cut staff at the beginning of recessions.
WASHINGTON/BALTIMORE, Jan 10- The U.S. consumer watchdog on Thursday finalized new mortgage rules that are expected to have little short-term impact on the housing market but could prevent banks from returning to the pre-crisis practice of churning out risky subprime mortgages.
WASHINGTON, Jan 10- The U.S. government's consumer finance watchdog said on Thursday it will force banks to use new criteria to determine whether a borrower can repay a home loan, in an effort to avert the kind of loose lending that helped push the economy into recession.
WASHINGTON, Jan 10- More than five years after the housing market collapsed, the U.S. government's newly created consumer watchdog said Thursday it will force banks to verify a borrower's ability to repay loans to ward off the kind of loose lending that helped push the U.S. economy into recession.
Jan 10- The U.S. Consumer Financial Protection Bureau on Thursday announced new mortgage rules that seek to ensure borrowers do not take on loans they cannot repay. Regulators said the new rules would prevent irresponsible mortgage lending by requiring lenders to verify consumers' ability to pay back loans or face potential lawsuits.
WASHINGTON, Jan 8- U.S. consumer credit rose in November for the fourth straight month, beating expectations and giving a hopeful sign for the strength of the economy. The Federal Reserve said on Tuesday consumer credit increased by $16.05 billion in November after rising by a slightly revised $14.08 billion in October.
WASHINGTON, Jan 8- U.S. consumer credit rose in November for the fourth straight month, beating expectations and giving a hopeful sign for the strength of the economy. The Federal Reserve said on Tuesday consumer credit increased by $16.05 billion in November after rising by an slightly revised $14.08 billion in October.
*American Express, Discover, Citigroup accused of collusion. American Express Co, Discover Financial Services and Citigroup Inc face the allegations in two antitrust lawsuits filed by customers who had to sign arbitration agreements in order to get credit cards.
*Citi has Monday deadline for stress test by Fed. Jan 6- Citigroup Inc's Michael Corbat has been meeting with bank regulators in his first months as CEO, as he looks to bolster relationships and finalize the bank's plan to return capital to shareholders, sources familiar with the matter said. Corbat is expected to play it safe when Citigroup asks the U.S.
David Marshall, Senior Analyst, Asia-Pacific Financials, CreditSights is positive that Chinese banks can maintain their earnings in 2013, but risks remain with shadow banking and transparency issues.
This CNBC contributor says the "Fiscal Cliff" is a great opportunity to revamp the tax code and address deficit spending.
More than 50 million people have scores of 785 or higher, and they exhibit “strikingly similar” credit habits.
If you close your bank account, don’t think that’s necessarily the last you’ll hear about it. In certain cases, closed checking accounts have re-opened when triggered by external charges, such as automatic bill payments. This can present an opportunity for identity theft.
American credit card debt--and the number of credit-card accounts--have tumbled since peaking in 2008, suggesting that the country is slowly healing itself from a crazy credit boom.
CircleUp is a crowdfunding service that connects start-up consumer product companies with accredited investors, with CNBC's Julia Boorstin. Ryand Caldbeck, CircleUp founder & CEO, offers insight.
Thailand’s rising banking shares could jump a further 30 percent over the next 12 months as profitability soars on strong investment and corporate lending growth, according to Japanese brokerage Nomura.
As investors become increasingly uneasy about the second-quarter earnings period, expectations for more action from the Fed are on the rise. But with record low rates and the weak global economy, analysts are anticipating a disappointing season all around.
The impact of Europe's debt crisis on US companies is about to come out in the wash as second-quarter earnings season kicks off with Alcoa on Monday. Plus, China economic data.
Although changes to money market funds since 2010 have made them more transparent and stable, SEC Chairman Mary Schapiro told CNBC that there are structural weaknesses still to be addressed.