CreditGauge™ June 2023: Delinquency Rates Rise as U.S. Consumers Exercise Caution with Credit
The June 2023 VantageScore CreditGauge report highlights key insights into the state of U.S. consumer credit. Despite a minor decline in the average VantageScore credit score, consumers continued to manage…
SEC Takes Legal Action Against Alleged $35 Million Ponzi Scheme Targeting Church Members
Ponzi scheme targeting elderly: The U.S. Securities and Exchange Commission (SEC) has made a significant move in its ongoing battle against financial fraud, charging Brent Seaman of Naples, Florida, and…
Credit Card Restrictions in Defense Bill: New Polling Shows Voter Opposition
As lawmakers push to include credit card routing restrictions in the National Defense Authorization Act, the Independent Community Bankers of America (ICBA) has released new polling results indicating strong voter…
Bank of America: Revised Stress Test Results and Capital Requirements
In response to the Federal Reserve’s 2023 Comprehensive Capital Analysis and Review (CCAR) results, Bank of America has provided commentary on the revised outcomes and its impact on the institution.…
Strengthening the Banking System: Proposed Rules on Capital Requirements for Large Banks
In a move to bolster the strength and resilience of the banking system, regulatory agencies have put forth a proposal requesting public comments. The goal of this proposal is to…
Federal Reserve Raises Interest Rates by 0.25 Point, Signals Potential for Further Hikes Despite Easing Inflation
Understanding Interest Rates and Their Impact on the Economy Interest rates play a crucial role in the financial landscape, influencing borrowing costs, consumer spending, and overall economic growth. Recently, the…
Understanding Credit History: Building a Strong Financial Foundation
In the world of personal finance, credit history plays a pivotal role in shaping our financial future. A credit history is a comprehensive record of an individual’s credit activity, showcasing…
Navigating the Secure Act 2.0: The Roth Catch-up Contribution Conundrum
Saving for retirement is a crucial aspect of financial planning, and the decision to pay taxes now or later often plays a significant role in shaping retirement strategies. The implementation…
Understanding Mortgage Rates in Refinancing
Mortgage rates play a pivotal role in the realm of refinancing, significantly impacting the financial landscape for homeowners. Whether you’re considering refinancing to lower monthly payments, tap into home equity,…
Insights into Economic, Housing, and Mortgage Market Trends – July 2023
Economy and Mortgage Market Trends As we step into the second half of 2023, the U.S. economy continues to demonstrate resilience amidst the challenges posed by rising interest rates. The…