Diversified Financials Consumer Finance

  • Man considering student loan refinancing

    Here's what you need to know about trying to pick up a lower interest rate on your student loan. 

  • WASHINGTON, Oct 29- Wells Fargo& Co will not finish paying back the estimated 600,000 customers it wrongly charged for auto insurance until at least 2020, the bank said in a letter to U.S. lawmakers seen by Reuters. U.S. regulators slapped Wells Fargo with a $1 billion penalty in April when it admitted to wrongly forcing drivers into auto insurance policies.

  • WASHINGTON, Oct 30- Next week's U.S. elections could see Wall Street's favorite congressman assume one of the most coveted roles setting financial policy on Capitol Hill- if Republicans retain control of the House of Representatives. With opinion polls favoring Democrats to pick up the net 23 seats they need to win control of the House on Nov. 6, vocal Wall Street...

  • WELLS FARGO SAYS AWARE OF ISSUES WITH ATM/DEBIT AND CREDIT CARD TRANSACTIONS AND ARE WORKING ON RESOLUTION- TWEET.

  • CONSUMER FINANCE WATCHDOG PARES BACK PENALTY AGAINST PAYDAY LENDER- SOURCES.

  • Oct 23- American Express Co has received subpoenas from the U.S. Department of Justice and inquiries from other federal agencies related to its foreign exchange international payments business, the credit card issuer said on Tuesday. The subpoenas were received from both the civil and criminal divisions of the Department of Justice, while the inquiries came...

  • The gold-standard in consumer lending decisions is about to get a major overhaul, according to the Wall Street Journal.

  • A visitor of BMW World walks past a BMW car during the annual accounts press conference of German car manufacturer BMW at the BWM World in Munich, Germany.

    Fair is a two-year old startup where you choose a used vehicle, get approved and complete the transaction — all on your smartphone app. 

  • Oct 18- American Express Co topped Wall Street estimates for third-quarter profit on Thursday and lifted its yearly earnings forecast, as a strengthening U.S. economy powered higher credit card spending. The credit-card issuer said quarterly card customer spending rose 10.3 percent in the United States and 5 percent in overseas markets during the three...

  • The credit-card issuer said on Thursday net income climbed to $1.65 billion in the three months ended Sept. 30 from $1.36 billion a year earlier. On a per-share basis, AmEx earned $1.88, compared with $1.51 in the prior-year quarter. Revenue, net of interest expense, rose 9.2 percent to $10.14 billion.

  • American Express reports third quarter results that beat expectations as consumers and small businesses spend more.

  • An Eli Lilly & Co. logo is seen on the cap of a pill bottle in this arranged photograph at a pharmacy in Princeton, Illinois.

    Express Scripts will cover new migraine drugs from Eli Lilly and Amgen, but is excluding a rival medication made by Teva Pharmaceutical.

  • SAO PAULO, Oct 1- Brazilian credit card processor StoneCo Ltd filed on Monday for an initial public offering on New York's Nasdaq, as competition speeds up among payment companies in Brazil and the economy recovers from a harsh recession. In January, Reuters reported that Stone was planning an IPO in the U.S. by the second half of the year, following its rival...

  • Credit card lending by the main high street banks rose by an annual 5.8 percent, the strongest growth rate since February, UK Finance, a group representing banks and lenders, said. "Growth in card spending remained fairly strong, reflecting the boost to retail sales from the warm weather as well as the growing use of credit cards as a preferred means of payment," Peter...

  • NEW YORK, Sept 24- Citigroup Inc will pay $5 million to address "robo-signed" proofs of claim filed in consumer bankruptcy cases involving 71,448 Macy's-branded credit card accounts, the U.S. Department of Justice announced on Monday. The proofs of claim were filed between 2012 and 2015 by employees of a third-party vendor who did not review their contents, and...

  • WASHINGTON, Sept 13- The U.S. Consumer Financial Protection Bureau has filed suit against Future Income Payments, a Nevada company that offers cash advances in exchange for future pension benefits, which the regulator said are actually exceptionally high-interest loans. In the lawsuit, the CFPB alleged that the company and related entities, all led by Scott...

  • WASHINGTON, Sept 11- U.S. regulators have rejected Wells Fargo& Co's plan to repay customers who were pushed into unnecessary auto insurance, telling the bank it must do more to ensure it has found and compensated every affected driver, three sources familiar with the matter told Reuters. Wells Fargo gave regulators the plan in June, as required by a $1 billion...

  • *UK consumer lending growth slows to 8.5 pct yy in July. Foreign investors' holdings of UK gilts fell by 17.2 billion pounds in July, up sharply from 1.4 billion pounds in June and the highest since records began in July 1982, driven in part by a large volume of maturing bonds. "This underlines the importance of managing the UK's exit from the EU as smoothly as possible,...

  • WASHINGTON, Aug 29- A unit of European lender Banco Santander SA has agreed to settle claims by a U.S. consumer watchdog that it misled drivers about the costs of loans and the coverage of related insurance policies, said three people with direct knowledge of the settlement. Santander Consumer USA Holdings Inc, an affiliate of the Spanish banking group, allowed...

  • LONDON, Aug 23- Britain on Thursday told companies trading with the European Union they would face a tangle of red tape, possible border delays and more costly credit card payments if the government fails to negotiate an exit deal before Britain leaves the bloc. With little more than seven months to go until it leaves the EU on March 29, Britain has yet to reach an...