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...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...Castlelake has taken advantage of recent market turmoil to expand its credit portfolio beyond aircraft leases, buying up billions of dollars of consumer instalment loans from fintech group Upstart....
...PAG, which invests across Asia including in credit and real estate as well as private equity, had raised roughly $3bn for its planned new fund by the beginning of this year, according to four people with...
...In all, banks’ share of private lending in the US economy has fallen from 60 per cent in 1970 to 35 per cent last year, according to a new National Bureau of Economic Research paper....
...After the Iowa caucus, it is back to court. Trump will this week be the subject of a civil defamation case being heard in Manhattan....
...Capital One Financial, which is buying rival Discover Financial Services, is up 50 per cent. Americans held more than $1.1tn on their credit cards at the end of 2023, an all-time high....
...Another 50 cents is collected by the merchant acquirer, or companies such as Block or Stripe that provide the shop’s point-of-sale service system....
...Capital One’s $35.3bn proposed takeover of Discover Financial Services would fuse two leading credit card lenders and give it control of a network that connects consumers, merchants and banks....
...Experian is the world’s largest credit bureau, with the heft to expand into adjacent markets....
...Swipe fees — otherwise known as interchange fees — have long been a point of contention between merchants and credit card companies....
...The biggest US banks believe American consumers have weathered the Federal Reserve’s cycle of interest rate rises in good shape, but a new poll shows Joe Biden is getting no credit ahead of November’s election...
...Then came a private credit fund....
...Many banks, she reckons “are unable to uniquely identify and systematically aggregate or measure their combined credit and counterparty risk exposures to the private equity sector”....
...of 2022, “indicating weakening debt service capacity”, according to the Fed’s research....
...After a difficult year of strikes, there is now “a real excitement in the past few weeks that you could feel in the city,” said Christopher Grimes, the FT’s Los Angeles bureau chief....
...Biz2Credit also has a separate partnership with the Saudi credit bureau Simah/Qarar and is also aiming to expand there....
...US airlines generated $6.8bn from them in 2022, the latest data available, according to the Bureau of Transportation Statistics. That is more than double from a decade earlier....
...It is not just rising base rates that are to blame: credit card companies have increased the margin they add on to a record high, the Consumer Financial Protection Bureau found last month....
...She has since logged complaints with the Better Business Bureau and contacted a lawyer. “They already knew my credit score when I contacted him, so it seemed legitimate,” said Angela....
...Barings is suing a Nomura-backed venture after most of its top private credit team defected to the new firm, in what the fund manager described as one of the “largest corporate raids at an asset manager...
...Of Tesla’s total quarterly sales of $21.3bn, 82 per cent were indeed “automotive revenues” while the rest were energy and services....
...Research published by the National Bureau of Economic Research in 2020 showed that IFC’s equity investments over the previous four decades outperformed the S&P 500....
...It referred to a 2015 matter in which the US Consumer Financial Protection Bureau ordered two of Hankey’s companies, Westlake Services and Wilshire Consumer Credit, to collectively pay nearly $50mn in restitution...
...Several of the bank’s businesses — including credit cards and corporate transaction services — did better than expected in a quarter that many thought would be marred by the upheaval of the restructuring...
...The lack of deals and an avalanche of money that has poured into credit markets is beginning to relieve headaches across the private equity world....
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