Less than a day before Donald Trump’s deadline to post a $464 million bond or risk his assets getting seized by the New York State Attorney General’s Office, his children are going to the media to complain about the cash squeeze. Trump’s younger son Eric Trump opined about the ordeal during an appearance on Sunday … Read more
Bfree, a tech-enabled debt collection startup based in Nigeria, was founded to automate and introduce ethical debt recovery processes after its founders witnessed the use and adverse effects of aggressive retrieval techniques, such as incessant calling and debt-shaming, by predatory digital lenders. After its launch in 2020, the startup introduced a number of scalable debt … Read more
Signage is seen at the Consumer Financial Protection Bureau (CFPB) headquarters in Washington, D.C., U.S., August 29, 2020. Andrew Kelly | Reuters WASHINGTON — The Consumer Financial Protection Bureau’s ambitious rule proposal to crack down on credit card late fees, a $14.5 billion income stream for credit card companies, will potentially roll out in January, … Read more
People pass by a Wells Fargo bank on May 17, 2023 in New York City. Spencer Platt | Getty Images Wells Fargo was snared in an industrywide probe into mortgage bankers’ use of loan discounts last year, CNBC has learned. The discounts, known as pricing exceptions, are used by mortgage personnel to help secure deals … Read more
The headquarters of German banks Deutsche Bank (L) and Commerzbank in Frankfurt, Germany. FRANK RUMPENHORST | DPA | Getty Images Germany’s major banks need to increase their provisions for non-performing loans, as corporate insolvencies and credit risks mount, according to Bundesbank Vice-President Claudia Buch. Europe’s largest economy has been dubbed the “sick man of Europe” … Read more
Caroline Ellison’s testimony at Sam Bankman-Fried’s trial spread into a second day, digging deep into the state of crypto trading firm Alameda Research’s faulty balance sheets. “We were in a bad situation,” Ellison said, referring to the time period between May and June 2022. “[We were] concerned if anyone found out it would all come … Read more