U.S. millennials are lacking in their understanding of financial concepts, with only 24 percent demonstrating basic financial knowledge, according to a recent study by PwC on young adults’ financial capability.
Browsing: Consumer lending
Credit risk for both retail and commercial loan products has increased over the past three years as and is expected to continue rising in 2016, according to the OCC’s annual Survey of Credit Underwriting Practices.
A large majority of banks provide small dollar loans effectively (with low charge-offs) and have the capacity to expand their small dollar lending, were market and regulatory conditions to allow for it, according to an ABA survey of senior bank officers.
ABA yesterday offered several recommendations for improving the FDIC’s proposed survey on small business lending.
The Consumer Financial Protection Bureau today updated its rulemaking agenda for the remainder of 2015 and into 2016.
ABA, through its Corporation for American Banking subsidiary, has endorsed the D+H’s mortgage loan origination system, MortgagebotLOS, an all-in-one system that supports retail, wholesale and correspondent mortgage lending.
Citing the economic outlook, bankers are showing signs of tightening credit for business loans while they continued to ease credit standards slightly in their home mortgage and consumer loan portfolios, according to the Federal Reserve’s latest senior loan officer survey released today.
The Department of Education yesterday finalized a rule that would limit the kinds of arrangements colleges can make with banks that disburse funds to students from federally guaranteed student loans.
More than four in 10 U.S. millennials — those aged 18 to 34 — say they are “chronically stressed” about money, and that money stress is spilling over into their emotional well-being, leisure activities, personal relationships and physical health, according to a Bank of America/USA Today survey released today.
Delinquencies on consumer loans fell significantly in the second quarter, driven by large declines in home loan-related delinquencies, according to the ABA Consumer Credit Delinquency Bulletin that was released today. Delinquencies fell in seven of the 11 loan categories.