Thanks to some young bright financial technology engineers you can now consolidate up to 24 credit or debit cards into one card you can use at the cash register, as well as enabling peer-to-peer payments with instant access to funds. The new Binji payment platform with Mastercard Debit works in tandem with the Binji App…
Since Brexit of June 2016, or the referendum on EU membership, penny-pincher Brits have taken credit card loan growth from double-dights to below 7% year-on-year (YOY). To boot British consumers spent more than they earned for a record ninth consecutive quarter in February raising concerns about the sustainability of the overall economy. Based on consumer…
Americans are mostly paying their credit card accounts, auto loans and mortgages on time this year. However, with rising interest rates, increasing inflation, overpriced stocks and a possible overdue recession looming, there are concerns the party could end by 2020. According to the S&P/Experian July Consumer Credit Default Indices the bank card default rate dropped…
Another Trump appointed Devos-like moron is under consideration to run the Consumer Financial Protection Bureau (CFPB). Kathy Kraninger knows nuttin about protecting consumers in the financial marketplace. Illegally appointed Mick Mulvaney, interim CFPB director, tried to wreck the CFPB by: • announcing its intention to reconsider and delay its payday lending rule. • dropping its…
The latest UK government figures show 90% of large businesses and 74% of small to mid-sized businesses (SMEs) have suffered a security breach. This is why online commerce has been damaged by fraud, the effects this has had on consumer’s subsequent decisions about transacting online, and the level of trust consumers have in online commerce.…
Nearly 9 out of 10 Brits now use online banking or banking apps, in contrast only 62% of French customers have similar digital banking access and compared with only 28% of bank customers in Italy. The pan-European Mastercard study reveals convenience was the most significant advantage for digital banking solutions, with time-saving (70%) and ease…
The top five types of complaints reported by U.S. consumers to the Consumer Financial Protection Bureau (CFPB) include: debt collection, mortgages, credit reporting, credit cards, and bank accounts or services. The CFPB has handled more than 1 million complaints since 2011 from all 50 U.S. states and D.C. Here is the Top 5: 1. Debt…
Wells Fargo is ponying-up $1 million of exclusive support to the National Foundation for Credit Counseling (NFCC) in support of the Sharpen Your Financial Focus (Sharpen) initiative. The Sharpen program helps consumers address their primary financial challenges through targeted education and counseling. The program is available in English and Spanish and consists of the following:…
Discover is not just among the most beloved credit cards in the nation, it is also ranked second-highest in customer satisfaction among nine U.S. direct banks. Discover Bank recently received 869 points out of a possible 1,000 in J.D. Power’s first Direct Retail Banking Satisfaction Study. The main survey factors were Channel Activities, Products and…
Most Americans agree while they use online resources for research, they prefer to apply for a mortgage in person. Consumers also indicated, though, that mobile or online services are important when it comes to obtaining a mortgage or making mortgage payments. Sixty-one percent of respondents consider mobile and online services very important or somewhat important,…
