Credit-card debt has grown to record highs and some large banks are reporting increased delinquency rates; this trend, combined with higher interest rates could be cause for concern according to Michael Pearce, an economist at Capital Economics; article provides data from the NY Fed on delinquent loans across student, auto, mortgage and credit card debt. Source
Goldman Sachs has been busy acquiring companies to boost its consumer facing business; they now have expertise across consumer lending, small business lending and real estate; Lend Academy shares their latest acquisitions, including the acquisition of Final, a credit card startup; it seems as though credit cards was the missing piece and it's possible Goldman Sachs will enter the credit card business. Source
Despite being less than two years old Marcus by Goldman Sachs continues to aggressively expand their consumer finance business. It...
A majority of fintech companies today focus on providing faster and cheaper financial products to already well-served Americans. While this...
US credit card debt was $870 million as of December 2018 according to data from the Federal Reserve, an increase...
Petal uses information beyond credit scores like earnings, spending and savings to identify people who are a good fit for a credit card; users can then use the Petal card to build their credit history; the company raised $13 million led by Valar Ventures. Source
The new joint credit card is anticipated to be launched next year and will carry the Apple Pay brand; this...
The former Citigroup CEO is investing $100 million in Fair Square Financial LLC through his investment firm called Orogen Group;...
The credit card business used to be much more profitable for banks; a recent study showed that fee income across...
This marks a first for a UK bank to launch a biometric fingerprint card; it is currently in pilot phase...