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Diversified Financials Consumer Finance

  • BoE@ LONDON, Sept 29- LONDON, Sept 29- Consumer lending in Britain rebounded in August and rose by the largest amount in three months, Bank of England figures showed on Friday, shortly after Governor Mark Carney said banks had been lending too much. Earlier on Friday Carney said there was no overall debt bubble in Britain but that the BoE was worried about "a pocket of...

  • CHICAGO, Sept 28- Delaying your Social Security benefit claim offers one of the best routes to higher retirement income- annual benefits increase 8 percent for every 12 months that you delay from age 62 to 70. The Social Security strategy is drawing sharp criticism from the federal Consumer Financial Protection Bureau, whose recently issued study of the...

  • Equifax's interim chief executive officer, Paulino do Rego Barros Jr., vowed to introduce a free service by Jan. 31 that will let consumers control access to their own credit records. Barros, who was named interim CEO on Tuesday as Richard Smith stepped down from the post amid mounting criticism over the handling of the cyber attack, also apologized for providing...

  • Sept 27- The top U.S. consumer watchdog called on Wednesday for tougher monitoring of credit reporting firms, including installing onsite examiners, following the massive Equifax data breach. Richard Cordray told CNBC the Consumer Financial Protection Bureau's current powers for supervising credit reporting firms were inadequate and only allow the...

  • Sept 27- Credit-reporting firms will be subject to stricter regulatory monitoring following the massive data breach that Equifax Inc disclosed this month, the head of the Consumer Financial Protection Bureau said on Wednesday. The CFPB is working with the Federal Trade Commission and the New York Department of Financial Services on a new regulatory...

  • Credit reporting company Equifax corporate offices are pictured in Atlanta, Georgia, September 8, 2017.

    The San Francisco City Attorney's office said Equifax failed to protect personal data of more than 15 million Californians.

  • BUENOS AIRES, Sept 27- Argentina's Prisma credit card and payment processing network will be split up in an attempt to increase competition in the country's financial sector, Production Minister Francisco Cabrera said late on Tuesday. The break up of Prisma, owned by Visa International and 14 banks that operate in Argentina, is part of President Mauricio...

  • Companies headed by iconic figures often have a hard time sussing out whom to pass the leadership baton to.

    When a company's top dog is a public figure, succession planning can be tricky. A look at 5 hard-to-replace corporate icons.

  • Bernard Madoff, founder of Bernard L. Madoff Investment Securities, leaves federal court in New York on Tuesday, March 10, 2009.

    A look at the most common investment scams out there, from Ponzi/pyramid schemes and life settlements to potentially shady annuity sales.

  • of England@ LONDON, Sept 25- British banks have underestimated the risks from a surge in consumer borrowing and need to hold an extra 10 billion pounds of capital to guard against future dangers, the Bank of England said on Monday. Last month the BoE forecast the economy would slow next year, partly due to Britain's looming departure from the European Union, and...

  • of England@ LONDON, Sept 25- British banks have underestimated the risks from a surge in consumer borrowing and need to hold an extra 10 billion pounds of capital to guard against future dangers, the Bank of England said on Monday. Last month the BoE forecast the economy would slow next year, partly due to Britain's looming departure from the European Union, and...

  • BRIGHTON, England, Sept 25- Britain's opposition Labour Party set out plans on Monday to nationalize billions of pounds of privately-funded infrastructure contracts, cap credit card interest charges, and get extra cash from large corporations. Although no election is due until 2022, it is preparing for Theresa May's Conservative minority government to...

  • BRIGHTON, England, Sept 25- Britain's opposition Labour Party set out plans on Monday to nationalise billions of pounds of privately-funded infrastructure contracts, cap credit card interest charges, and get extra cash from large corporations. Although no election is due until 2022, it is preparing for Theresa May's Conservative minority government to...

  • LONDON, Sept 25- Britain's financial watchdog rejected calls to cap interest rates charged on credit cards on Monday, saying that planned measures to help people avoid excessive debt should be given time to work. "We are not there at the moment," Andrew Bailey, chief executive of the Financial Conduct Authority, said in response to calls from Britain's Labour...

  • REUTERS SUMMIT- FCA CEO WANTS TIME FOR NEW CREDIT CARD MEASURES TO WORK BEFORE CONSIDERING EXTRA STEPS.

  • REUTERS SUMMIT- FINANCIAL CONDUCT AUTHORITY CEO SAYS NOT THE TIME TO CAP CREDIT CARD RATES.

  • risks@ LONDON, Sept 25- British lenders need to hold around an extra 10 billion pounds in capital to guard against increased risks from rapidly rising unsecured consumer lending, the Bank of England said on Monday. British consumer borrowing is growing at nearly 10 percent a year, far faster than incomes, and the BoE's Financial Policy Committee said it would tell...

  • NEW YORK, Sept 21- U.S. consumer credit reporting bureau Equifax Inc risks losing support from banks unless it can show its database on millions of borrowers is secure from another cyber-attack. "Given the level of interdependence between lenders and these data providers, they have a vested interest in there being more than two and would like Equifax to still...

  • NEW YORK, Sept 21- U.S. consumer credit reporting bureau Equifax Inc risks losing support from banks unless it can show its database on millions of borrowers is secure from another cyber-attack. "Given the level of interdependence between lenders and these data providers, they have a vested interest in there being more than two and would like Equifax to still...

  • By Lisa Lambert and Patrick Rucker. WASHINGTON, Sept 21- The U.S. consumer finance watchdog agency is expected to punish Equifax for its cyber breach with the wide-ranging powers it has used with Wall Street, former agency officials and lawyers said this week. The credit-reporting company is subject to five federal laws governing listed companies, the use of...