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American Express bets on holiday spending by affluent customers to update 2025 forecasts
American Express raised the lower end of its 2025 profit and revenue forecasts, buoyed by continued spending from affluent customers ahead of the holiday season. The company now expects earnings per share of $15.20–$15.50 and revenue growth of 9–10%.
Stringent data localisation norms might impair fraud detection: Scott Zoldi of Fico
The firm, known for its credit scoring models for homebuyers in the US, offers analytics solutions for all forms of customer underwriting by lenders. The firm deploys its traditional fraud detection models in India, but is now pitching its new payment fraud detection to banks.
Wall Street closes with records as tech support offsets labor, shutdown uncertainties
Wall Street indexes closed at record highs, primarily driven by the technology sector and AI chip companies, amidst a U.S. government shutdown. Investors, monitoring private labor data, anticipated potential Fed rate cuts. The shutdown also raised concerns about its duration and impacted specific stock performances.
5 fall habits that could add $190 to your bills — financial expert sounds the alarm
Many Americans feel behind on money and worry about finances. Living paycheck-to-paycheck and having little retirement savings is common. If you save money, reduce financial stress, or invest for the future, you are ahead of half the country. Simple financial habits like saving, planning, and smart investing can improve your money situation and give you more security.
US consumers feel the heat as early signs of stress surface in credit health
The findings present a contrast to the relatively upbeat tone struck by several of the country’s largest banks. Lenders have argued that consumers remain broadly stable and that the overall quality of their credit portfolios has not shown significant cracks. At the same time, wider economic data suggests the labour market is cooling, which could affect future repayment capacity.
FICO stock crashes over 10% after Fannie and Freddie embrace VantageScore 4.0 - here’s why it matters
FICO stock declined as Fannie Mae and Freddie Mac will now permit lenders to use VantageScore 4.0. This decision increases competition in credit scoring. It potentially impacts FICO's market share. VantageScore 4.0 uses machine learning. It assesses borrowers with limited credit history. Credit bureau stocks like Equifax and Experian rose. Analysts still have a positive outlook on FICO stock.
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Trump’s tariff bombshell sends copper prices through the roof, sends markets into frenzy — what’s next?
Copper prices in the United States reached a record high. This happened after US President Donald Trump announced plans for a 50% tariff on copper imports. The price jumped over 10% to $12,330 per metric ton. Shares of copper miner Freeport-McMoRan increased by 5%. Trump also mentioned potential tariffs on pharmaceutical imports. He suggested a rate as high as 200%.
VantageScore 4.0 just got a major boost - what it means for your credit and loans
VantageScore 4.0 gets a boost from the US Federal Housing FHFA director. Fannie and Freddie will now allow lenders to use VantageScore 4.0. This decision aims to increase competition in the credit score ecosystem. VantageScore 4.0 uses trended data for better credit risk assessment. It considers credit history trends over the past 24 months.
US' credit score hangover hitting riskiest borrowers. Are there more troubles ahead?
Credit scores in United States of America soared during the pandemic, enabling a borrowing binge that has now forced a reckoning. Even for people who kept their credit score steady by making their payments, interest rates and higher prices are proving to be a double whammy. Americans whose credit scores jumped early in the pandemic are falling behind on loan payments at higher than expected rates.
Top tribal loans for bad credit in 2023: No credit check, guaranteed approval
Guide on top tribal loans for bad credit in 2023. Read to know more
India Stack will be transformative for Indian credit ecosystem: William Lansing, Global CEO, Fico
"In India, due to the government's management of infrastructure, we'll quickly understand consumer behaviours that took other countries decades to grasp. This positions us to rapidly grow the consumer credit segment of the Indian economy."
Slovak election winner Fico eyes mandate, reiterates Ukraine stance
Fico, who pledged during the campaign to end military aid to Ukraine, also told a news conference Slovakia has bigger problems than Ukraine and would do everything possible to start peace talks, adding his position was unchanged.
Wells Fargo CEO says there will be losses in office loan portfolio
Wells Fargo CEO, Charlie Scharf, announced that the bank is proactively managing its commercial real estate loan portfolio, but warns that the bank will see losses in the office loan space. The bank's focus on liquidity was also highlighted, following a sustained period of turbulence in March from the failure of three regional banks. While consumer spending and credit quality remain strong, Scharf stated credit had been tightened in its card business in areas where early signs of weakness started to show.
When the AI goes haywire, bring on the humans
The AI software used by Fair Isaac Corp, a credit scoring giant, told banks to deny millions of legitimate purchases, early during the COVID-19 pandemic
Top 5 urgent loans for bad credit with guaranteed decisions in 2022
To provide temporary relief from your financial hiccups, here are the top 5 loans for bad credit in 2022
Bad credit loans online: Top 10 installment loan websites for bad credit with guaranteed approval in August 2022
Want to avail a small-ticket personal or installment loan with zero credit check? Let’s tell you the top 10 loan platforms for the same.
5 best payday loans with no credit check and direct lenders for bad credit in 2022
People with bad credit score can check out these 5 best payday loans. Read to know more
Best payday loans online with guaranteed approval and instant decisions in 2022
People who want an guaranteed payday loan online may look into these best selections in 2022. Read to know more
8 best emergency loans with no credit checks for urgent same-day cash
People with urgent requirement for same-day cash may consider these 8 best emergency loans
Loans for bad credit: 8 best bad credit loans with high approval in July 2022
8 best credit loans with high approval for people with bad credit and instant loans
8 Best payday loans with no credit check: Get no credit check loans online with same-day approval
People who want an instant loan and also have a bad credit, can choose these 8 best payday loans with no credit check
5 best debt consolidation loans for bad credit with guaranteed decisions in 2022
People with bad credit score may consider these 5 best debt consolidation loans in 2022.
5 best payday loans online with no credit check and instant approval in 2022
Payday loans are appropriate for people with bad credit score and also who needs an instant loan.
Buy now, pay later loans may soon play bigger role in credit scores
The credit-rating companies argue that reporting of on-time payments can help shoppers build a credit history. But consumer experts note that late or missed payments can hurt.
Are you eligible for loans in the U.S? Here are the visas that are and those that aren't
Are you eligible for loans in the U.S. if you are a visa holder? What credit information do you need to present, how much do you need to earn, do you need a citizen to cosign with you? All of these are important questions you are probably wondering about if you are considering applying for a loan. As a non-citizen, getting a loan can be tricky. But it’s not impossible.
No credit history? No problem
Financial institutions are increasingly using phone data to gauge credit-worthiness of a consumer. However, some of the phone data could open up the risk of being used to discriminate against potential borrowers.
FICO, Lenddo to develop credit score for Indians
It will give lenders improved certainty around the risk assessment of people with 'thin-files' – those who don't have enough data in their credit report to score.
Ex-Google CIO Douglas Merrill just raised $150 million to power a service launched three months ago
It was only about three months ago when ZestFinance, the online lending startup founded by ex-Google CIO Douglas Merrill, launched a new loan service.
PayPal founder seeking JPMorgan-style longevity with startup
Affirm, which has raised $45 million in venture funds, aims to capitalize on millennials' antipathy to credit cards.
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