Personal loans are one of the most flexible forms of financing and can be used for anything from consolidating debt or a significant expense like a car repair or medical bill. This type of loan already has pretty attractive interest rates — but the offerings are just getting better. Annual percentage rates on personal loans are even lower now, thanks to the Federal Reserve’s rate cuts.
We’re learning more details about the bid to expand Google Pay’s offerings beyond digital peer-to-peer transactions. Six banks have announced partnerships with Google that will allow new customers to launch accounts at their institutions through Google Pay.
The Supreme Court’s recent decision in Barr v. American Association of Political Consultants held the government-debt exception of the TCPA unconstitutional under the First Amendment’s Free Speech Clause. This means that going forward, companies that make “debt-collection” calls on behalf of the federal government can only do so with the prior express written consent of the called individuals.
Aug 3 (Reuters) – Loan officers at U.S. banks reported tightening standards and terms on all types of business, real estate and consumer loans in the second quarter as widespread coronavirus-related shutdowns plunged the economy into recession and tens of millions of workers lost their jobs.
The government is urging financial institutions to work with businesses and consumers who have been adversely affected by the coronavirus pandemic as some borrower accommodations expire. Some borrowers may still find themselves under financial stress, the Federal Reserve, the Office of the Comptroller of the Currency, the Consumer Financial Protection Bureau and the Federal Deposit Insurance Corporation said in a statement on Monday.
As the aftereffects of the pandemic across the country come to light, bank customers may find branches that were temporarily closed may not reopen depending on the branch’s visibility, marketability and customer convenience, according to a Globest.com report.
As the coronavirus pandemic brought the economy to a standstill, regulators and economists thought that newly out-of-work consumers might need to resort to applying online for short-term, small loans, which are often costly. So far, at least, that hasn’t happened.At the height of business shutdowns and in the first wave of rising unemployment, demand for online small-dollar loans dropped, according to data provided exclusively to Morning Consult by the Online Lenders Alliance.