Advanced search

TAMPA--As open banking expands across the United States, credit unions should pause before rushing into strategy decisions and instead examine the broader data-sharing ecosystem that is rapidly reshaping financial services — including risks and opportunities that go well beyond simply replacing screen scraping with APIs.

NEW YORK— U.S. household finances continue to look relatively steady on the surface, but new PYMNTS analysis suggests the underlying picture is far more fragile, with many consumers maintaining stability through discipline rather than enjoying genuine financial breathing room.

WASHINGTON— Mortgage applications decreased 0.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 3.

SAN FRANCISCO— SoFi Technologies said it is pushing deeper into commercial banking and digital assets with the launch of SoFi Big Business Banking, a new platform that lets enterprise clients manage both fiat and crypto activity through its nationally chartered bank, marking another sign of how fintechs are trying to expand beyond consumer checking and into business deposits and payments.

WASHINGTON--Noting that credit unions remain committed to offering their members competitive credit card rates and transparent terms, America’s Credit Unions is engaging the CFPB to ensure that the information collection process related to credit card terms is efficient, well-designed, and proportionate to the benefits it delivers, the trade association said.

WASHINGTON--U.S. consumer credit expanded at a modest 2.2% annual rate in February, with the Federal Reserve’s latest G.19 report showing a sharp slowdown in revolving credit growth to just 0.6% while nonrevolving credit rose at a 2.8% pace.