New rules to account for loan loss reserves will come into effect in the coming years. Unfortunately there's a difference between US and international rules. This may lead to some 'creative' bookkeeping.
New rules to account for loan loss reserves will come into effect in the coming years. Unfortunately there's a difference between US and international rules. This may lead to some 'creative' bookkeeping.
NerdWallet's Household Credit survey offers some interesting insights into how people build their levels of debt. It also offers insights into how many households are saddled with different types of debt.
China is on the front lines of financial services disruption. Ant Financial (Alibaba) and WeChat (Tencent Holdings) have changed the game there and they -- or other new entrants -- have an opportunity to do the same in more traditional banking markets.
There's been lots of hype about how A.I. -- artificial intelligence -- will change the workplace, largely by doing many jobs and putting people out of work. Some firms are starting with baby steps focused on the most mundane tasks. Where does it go from here?
Are we destined to repeat past mistakes? For mortgages it seems we can't resist. Some research into the development of the mortgage backed securities market helps provide insight into past mistakes and whether we will repeat them again.
Chase has been aggressively luring new, high spending customers to its credit card products, particularly the Sapphire Reserve Card. While bonuses have been shrinking there are also stories about Chase closing existing accounts. Why?
Payday lending comes at a high cost to borrowers but it may be the only option available to some. Now US Bank is offering a small dollar loan product that may offer relief to some borrowers but at still a high cost.
The FASB is proposing to delay the implementation date for the new CECL accounting standard. While practical early adoption may be best for most lenders.
Shining light on industry issues should help consumers avoid future problems. The CFPB makes its complaint database available to the public. With the change in management they're rethinking whether to restrict access.
After a series of scandals Wells Fargo is struggling to grow compared to its peers. Now it's planning to cut its work force by up to 10%. After a series of fines and bad press the real cost of the scandals may be catching up to them.
