The CD Term Tsunami is Back. This Time It’s About More than Interest Rates.
John Blizzard, The Financial Brand
Banking experiences well-known cycles. Mortgage rates rise and fall, spurring refinancings. Ag lending booms seasonally as farmers prepare for growing season.
And trillions of dollars of certificates of deposit come to term and renew each year. During the rest of this year, savers holding some $2.37 trillion in bank CDs will be shopping for a new place to invest their funds. The credit union industry is going through a similar cycle…
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Broad Coalition Urges Congress to Oppose Unaffordable 100%+ APR Bank Loans
National Consumer Law Center
Groups Urge Lawmakers to Reject Enova and OppFi’s National Bank Applications and to Support State and Federal Interest Rate Limits
Nearly 100 consumer, civil rights, and community organizations sent a letter urging members of Congress to stop predatory bank loans by opposing the unprecedented national bank applications of Enova and OppFi. The letter also urged members to adopt a national interest rate cap and to support the right of states to establish rate limits, including stricter caps…
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The Super Prime Credit Score Club Is Growing Rapidly
Oyin Adedoyin, Wall Street Journal
Young people in particular have powered a rise in the number of Americans with credit scores over 780
The ranks of super prime credit-score holders have grown by 15 million over the last half-dozen years, thanks in part to young people. Americans with top-tier scores above 780 have been a boost to banks, which are increasingly courting high-end customers with offers of credit cards and other loans…
Read moreBanks Seek to Offload Risk to Avoid ‘Choking’ On Data Centre Debt
Jill R Shah & Michelle Chan, Financial Times
Global lenders explore private deals and risk transfers to cut exposure to AI boom
Banks are hunting for new ways to offload risks tied to a glut of data centre debt as the race to build AI infrastructure stretches financing limits among the largest global lenders. Lenders are exploring private deals to sell stakes in the debt as well as so-called risk transfers to reduce exposure to big borrowers and free up capacity for more lending…
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