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...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....
...The Consumer Financial Protection Bureau is set to finalise a rule aimed at cutting credit card late fees, the latest move by the Biden administration to tackle anti-competitive behaviour across the US economy...
...Experian is the world’s largest credit bureau, with the heft to expand into adjacent markets....
...The FT’s deputy Washington bureau chief, Lauren Fedor, and US political editor Derek Brower join to discuss....
...These revenues grew to more than $14bn in 2022 of the $130bn issuers charged consumers in interest and fees, according to the Consumer Financial Protection Bureau....
...Sonja Hutson And we’ve also got Lauren Fedor, the FT’s deputy Washington bureau chief. Hi, Lauren. Lauren Fedor Hi, Sonja....
...The bureau also said that smaller credit card issuers offered cheaper interest rates compared to larger rivals, including Capital One....
...CREDIT: Forbes Breaking News Read a transcript of this episode on FT.com...
...The FT’s deputy Washington bureau chief, Lauren Fedor, and US managing editor, Peter Spiegel, join to discuss....
...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....
...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...
...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....
...The statistics bureau said while food prices dropped 5.9 per cent last month, non-food prices increased 0.4 per cent year on year....
...Joe LeahySo if you look at the data for credit, instead of flowing into property, a lot of state bank credit is now flowing into manufacturing....
...Here is the abstract: How, when, and why did women in the US obtain legal rights equal to men’s regarding the workplace, marriage, family, Social Security, criminal justice, credit markets, and other parts...
...Fitch Ratings cut its outlook on China’s long-term credit rating to negative on Wednesday, citing uncertain prospects for the economy as the country moves from its property-led growth model....
...Here to explain is the FT’s South Asia bureau chief, John Reed. Hi, John. John ReedHi there....
...In the mid-1990s, Thiam left management consultant McKinsey to serve under Bédié as head of the National Bureau for Technical Studies and Development, an economic advisory body to the president....
...In 2015, 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 and fines....
...inflation and a jobs market that shows little sign of weakening have already stoked concerns that the US economy is too buoyant to allow many cuts in the near future.Economists polled by Reuters expect Census Bureau...
...It said it expected the company’s “credit metrics, financial flexibility and liquidity buffer” to weaken over the next 12 to 18 months....
...Biz2Credit also has a separate partnership with the Saudi credit bureau Simah/Qarar and is also aiming to expand there....
...The proposal issued by the Consumer Financial Protection Bureau on Tuesday would subject non-bank companies that offer digital payments to a regulatory scheme similar to that for banks or credit unions....
...Then came a private credit fund....
...The measures by the Federal Trade Commission and the Consumer Financial Protection Bureau announced on Wednesday have the potential to significantly alter how US companies display prices to shoppers....
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