Visa announces key partnerships with Klarna, Zilch to launch flexible debit cards
At Money20/20 Europe in Amsterdam, Visa announced plans to launch a pilot for FDIC-insured debit card with Klarna, and roll out Zilch’s first physical card.
Lloyds teams with Lumio to help couples manage shared finances
Lloyds Banking Group has teamed up with money app Lumio to take the stress out of shared financial management for couples.
Why AI-driven portfolio maintenance is the new credit risk advantage
If you only serviced your car once a year, you would not expect it to perform at its best. Oil…
Podcast: ‘Weekly Wrap’ on earnings, sales
First-quarter earnings continued to bring mixed results as vehicle sales slowed in April. Capital One’s auto outstandings decreased 3.7% year…
Trump nominates McKernan for 5-year term as CFPB director
President Trump sent more than 60 nominations to the U.S. Senate on Wednesday for confirmation to lead regulatory agencies, serve as foreign ambassadors and more. One nomination was Jonathan McKernan to be director of the Consumer Financial Protection Bureau for … [Read More]
CaixaBank makes quantum computing breakthrough
CaixaBank has joined forces with vendor D-Wave Systems to apply quantum computing in investment portfolio hedging calculation in the insurance sector.
COMMENTARY: How crypto helps lenders cover loan values
Auto repossessions are on the rise. Subprime repos are up 11% since 2020, according to Jalopnik. Even among prime borrowers with excellent credit scores, repossession rates have doubled from 2% to 4% in the past two years, according to Barron’s. … [Read More]
FCA doubles actions against misleading financial promotions
Nearly 20,000 financial adverts had to be withdrawn or amended in the UK last year after the FCA stepped in – nearly double the amount in 2023.
NAB to hold cloud computing hackathon
National Australia Bank is opening up its API to developers inside and outside the bank for a one-day cloud computing hackathon, dubbed iDay, this coming weekend.
Westlake offers fleet financing to DriveItAway dealers
Westlake Financial Services is offering fleet financing for dealers that have signed on to mobility platform DriveItAway’s subscription-to-own model. …
ARA responds to potential ‘edict’ involving repossessions & liability
Having just established new leadership, the American Recovery Association is continuing its proactive approach to serve its members, highlighting the potential pitfalls of a potential “edict” recently made by an unnamed auto finance company. The entire matter stems from recent … [Read More]
Oversupply of buy here, pay here loans pressures pricing
An oversupply of performing loan portfolios for sale from buy here, pay here dealers coupled with a decrease in potential…
Ant Group open sources privacy software
Chinese fintech behemoth Ant Group has made its “privacy-preserving Computation Framework” open source.
While auto credit loosened in March, deeper details tell different stories
Along with examining the employment scene, Cox Automotive tried to decipher how easily dealerships could get contracts bought in March by their networks of finance companies. According to the Dealertrack Credit Availability Index, access to auto credit loosened slightly in … [Read More]
PayPal faces chaos in Germany after banks shut down payments over security fears
PayPal is working with German banks to resolve outstanding issues that disrupted online payments for millions of consumers last week.