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June sees tepid growth in consumer credit

clock August 11, 2013 12:00 by author Walt Wojciechowski
Despite a marked increase in auto lending and education financing, overall consumer credit rose less than expected in June, according to research by the Federal Reserve.The slower than expected increase can be partly attributed to a decrease in credit card use. In total, consumer installment credit rose by $13.8 billion in June to total $2.85 trill... [More]

Consumer spending spike could be good news for lenders

clock August 7, 2013 07:00 by author Walt Wojciechowski
Growth in consumer spending may be a welcome development for short term lending enterprises and other financial institutions that may be able to capitalize on Americans opening their wallets more.The Associated Press reported that the rate of consumer spending increased 0.5 percent in June, the most significant growth recorded in four months. In Ma... [More]

Government could use data analytics to combat financial fraud

clock July 30, 2013 23:33 by author Walt Wojciechowski
Financial fraud is a major hindrance to business success in the United States. Not only can it be detrimental to consumers who have their identities stolen, compromising consumer credit reports, it can hurt the reputations of business and financial institutions as well. It's a significant problem that has been growing due to the proliferation of mo... [More]

Credit risk management in the modern era

clock July 29, 2013 16:58 by author Walt Wojciechowski
As economic conditions remain turbulent in the United States, enterprise decision makers have had to pay especially close attention to credit risk management. Consumer and corporate credit scores have fluctuated erratically throughout the years following the Great Recession, making it far more difficult to manage risk that in the years before the f... [More]

New York lawmakers show desire to prohibit consumer credit data sales

clock July 25, 2013 19:04 by author Walt Wojciechowski
State lawmakers in New York are considering banning the practice of selling consumer credit reports that are used in pre-employment screenings. The Legislative Gazette recently reported that a bill that would have placed limitations on the sale of such records to third parties failed to make it to the Senate floor before the most recent session exp... [More]

Small business lending shows more activity, less capital extended

clock July 23, 2013 10:18 by author Walt Wojciechowski
Small business lending activity has been a mixed bag this year, as companies across the country adapt their financial practices. Most likely a result of careful fiduciary policies that have been adapted in the wake of the Great Recession, businesses and lenders appear to be taking a much more conservative approach to extending and accepting debts.A... [More]

Gallup: Data shows US consumer spending up from last year

clock July 23, 2013 10:18 by author Walt Wojciechowski
American consumers are starting to spend more as the economy improves. This development is welcome news for short term lending companies and other financial institutions that could see a spike in business if consumers continue to spend and borrow. Gallup collects data relating to American's daily spending habits that does not include major purchase... [More]

Consumer credit growth beats expectations

clock July 18, 2013 07:29 by author Walt Wojciechowski
Consumer credit surged in May, shattering the predictions set out by industry experts. The latest report from the Federal Reserve indicated that outstanding credit levels jumped at an annual rate of 8.3 percent in May. The growth was led by revolving credit lines, which expanded by 9.3 percent. Nonrevolving credit jumped by 7.9 percentMarketWatch r... [More]

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