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CFPB Warns Retail Card Companies off Deferred-Interest Promotions

Last week, the Consumer Financial Protection Bureau (CFPB) sent letters to the CEOs of several issuers of store brand credit cards warning of fairness and transparency concerns with deferred-interest promotions. The CFPB has been gradually increasing the pressure on deferred-interest products using an approach similar to the one it used for add-on products–a series of […]

Developers of 3 Norwich buildings love city’s charm

NORWICH — A Bronx developer has closed this week on the sale of three commercial buildings on lower Broadway in downtown Norwich, with plans to develop them in the near future. Randy Persaud is the new owner of the Fairhaven building, at 24-28 Broadway, along with 51-53 and 59-61 Broadway, which are on either side […]

Growth In Access To Subprime Credit Cards

During the end of this year’s first quarter the credit card balance of consumers in Canada went up by 3.5 per cent from the first quarter in 2015, up to a balance of 20.4 million. Subprime mortgagors have specifically signed up for a large number of credit cards in the recent two years, with 14 […]

Trump’s Interests vs. America’s, Bedminster Edition

Even before his most recent plan was laid out, Trump has attempted to deflect criticism by repeatedly asserting that the law barring executive-branch officials from maintaining financial holdings or business ties that overlap with their duties does not apply to the president or vice president. In this, he is correct; the law, passed in 1989, […]

Trump’s Cuba policy on travel and U.S. business dealings likely more moderate

President Donald Trumps Cuba policy, largely influenced by two Florida lawmakers, is expected to target travel to the communist country and US business ventures there. US Rep. Mario Diaz-Balart and Sen. Marco Rubio have been discussing changes in Cuba policy with the administration. Both Republicans are considered top congressional advisers on the subject, and both […]

Rush of Australian securitized home loans tempts yield-starved Japanese

SYDNEY/TOKYO Australia has become the worlds most active market for securitized home loans, with sales at their highest in a decade as lenders seek to take advantage of surging demand from yield-starved Japanese investors. Issues of residential mortgage-backed securities (RMBS) total A$67 billion ($50.21 billion), with A$12 billion sold so far this year. Offshore investors […]

Britain’s preferred car-loans are incomprehensible financialized garbage: what could go wrong?

Innovative Fintech Startup Raises $8 Million To Provide Credit for Underserved Americans

The company recently launched thecredit card Build that provides customers with an alternative to local payday lenders’ sky-high rates and, in the process, improve their FICO scores and build future capacity for credit. The company’s credit products target subprime customers with credit scores of between 550 and 600, a group that’s largely been overlooked by […]

Oyo teachers commend Ajimobi over salary payment, car loans

TEACHERS in Oyo State, who are members of Ajumose Legacy Teachers Forum (ALTF), have commended Governor Abiola Ajimobi for the recent payment of their salaries and approval of car loans.

Banker-property mafia for illegal home loans

NEW DELHI: If you want to buy a house in Delhi’s unauthorised colonies and lack enough money to pay in cash, don’t worry. There are loan agents to help you out. Most banks don’t sanction home loans for houses in unauthorised colonies, but they look the other way while handing you the cheque if you […]

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