ABA: Report Shows Credit Card Market Expanded in Fourth Quarter 2017 Amid Strong Holiday Spending Season
Credit card use continued to grow in the fourth quarter of 2017 on the back of a strong holiday season for consumer spending, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. On an annual basis, monthly purchase volumes rose 3.9 percent for prime accounts and 5.1 percent for super-prime accounts, but…
SBA: CDC Small Business Finance Wins SBA’s 2018 Jody C. Raskind Award
The Certified Development Company (CDC) Small Business Finance, a California-based SBA 504 CDC Lender, Community Advantage Lender and Microloan Intermediary, has been selected as this year’s Jody C. Raskind Award recipient. This recognition is presented annually by the U.S. Small Business Administration to a mission-focused lender that has distinguished itself in helping small businesses start,…
CFPB: 3 Common Credit Issues and What You Can Do to Fix Them
Your credit history can determine if you can get a loan, and even where you live or work. Credit scores are built from your credit history and can determine how much you pay to borrow money for a car or house. Yet, many people don’t know where to start when it comes to building, improving,…
SBA: National Small Business Week 2018 to Kick-Off in Nation’s Capital on April 29th
Leading organizations join forces with SBA to make the week possible National Small Business Week 2018 kicks off at the end of this month with an awards ceremony in Washington, D.C. where national award winners including the naming of this year’s national Small Business Person of the Year will be recognized and awarded for their…
SBA: Small Business SBA 504 Loans Now Available with 25-Year Maturity
SBA Administrator Linda McMahon has announced that the U.S. Small Business Administration is offering a 504 Loan and the Debenture that funds it with a 25-year maturity. This new 25 year Debenture will be made available for 504 Projects that are approved on or after April 2, 2018. The new 504 Loan term complements the…
ABA: Consumer Delinquencies Fall for First Time Since 2012
Installment loan delinquencies fall across the country during fourth quarter 2017 The fourth quarter of 2017 saw a broad-based decline in delinquencies, with delinquencies in closed-end loans (like personal or auto loans) falling across the board and bank card delinquencies declining significantly, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. Overall, delinquencies fell…
ABA: Farm Bank Report Shows Ag Lending Up 6 Percent in 2017
Strong performance, asset quality and capital levels in 2017 U.S farm banks increased agricultural lending by nearly 6 percent, or $5.9 billion, to $106 billion in 2017, according to the American Bankers Association’s annual Farm Bank Performance Report. Asset quality remained healthy at the nation’s 1,847 farm banks as non-performing loans fell to a pre-recession…
FHFA: Progress Report on the 2017 Scorecard for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) issued a Progress Report today summarizing the 2017 activities of Fannie Mae and Freddie Mac (the Enterprises) to further FHFA’s three strategic objectives as conservator: Maintain, Reduce, and Build. The Report describes efforts taken by the Enterprises during 2017 to address factors limiting access to mortgage credit for creditworthy…