American Credit News

Back-to-school season is well underway, bringing with it the need for supplies, new clothes, books, and more. According to a National Retail Federation survey, back-to-school outlays for the coming academic year will amount to $39 billion, or $875 per household for the K-12 set, while the college-bound will spend an even larger $87 billion in aggregate, or $1,365 per household.

Lloyd Whiting, a Case Manager at Assetz Capital, has been with the company since January 2019. His career in business lending began when he joined the Lender Team, handling funds coming into the business for subsequent lending. Less than a year later, he transitioned to the Relationship Support Team (RST), now known as The Operations Team, as a Relationship Support Assistant. After receiving substantial support from his team, Whiting was promoted to Relationship Support Manager and eventually became a Case Manager.

The American Fintech Council (AFC) has announced the addition of Republic Bank of Chicago as its newest member. Founded in 1964, Republic Bank is a family-owned institution that serves Chicago communities and businesses with personalized financial solutions. The bank offers a suite of innovative fintech products, allowing customers to access advanced technology through a reliable community banking partner.

West Texas’ TransPecos Banks is dedicated to integrity, innovation, and a people-first mindset

The American Fintech Council (AFC) announced the addition of New Horizon Bank as its newest member. The AFC, an industry association representing responsible fintech companies and innovative banks, highlighted New Horizon's alignment with its focus on consumer-centric finance and innovation.

Navy Federal Credit Union and Feeding America have launched a new initiative, No Plate Left Behind, aimed at supporting military families facing food insecurity.

Bank of America Corporation announced today that it will redeem on August 24, 2024, all €1,500,000,000 principal amount outstanding of its Floating Rate Senior Notes, due August 24, 2025 (ISIN: XS2345784057; Common Code: 234578405) (the “Notes”).

House Financial Services Committee Chairman Patrick McHenry (NC-10) and six subcommittee chairmen have sent a letter to U.S. Treasury Secretary Janet Yellen in response to the Treasury’s Request for Information (RFI) on Artificial Intelligence (AI) in financial services. The lawmakers emphasize the significant potential AI holds for the sector and urge financial regulators to focus on its benefits to consumers as firms increasingly leverage AI.

The Infatuation announced today the return of its signature food festival, EEEEEATSCON, presented by Chase Sapphire. The event is scheduled for Saturday, October 12, and Sunday, October 13 at Forest Hills Stadium in New York City. This marks the fifth year of the festival at this location since its inception in 2018.

Capital One is on a mission to Change Banking for Good, and one way this is realized is through credit card rewards. These rewards, whether in the form of cash back, travel points, or other incentives, provide significant value to both consumers and small businesses. For budget-conscious individuals, credit card rewards can make traveling more affordable or help purchase necessities.

The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), sent a comment letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra with Financial Services Committee Republicans in response to the CFPB’s Notice of Proposed Rulemaking (NPRM) regarding the agency’s proposal to change American credit and health care systems. Prior to the comment letter, Chairman McHenry raised concerns with the NPRM, which would prevent the consideration of medical debt when constructing credit reports.

Date: August 15, 2024

Frontier Airlines, in collaboration with Barclays US Consumer Bank, has introduced a new benefit for its World Mastercard cardmembers. Effective immediately, primary cardholders are entitled to two free checked bags on all flights operated by Frontier Airlines.

FIFA has announced Bank of America as the Official Bank Sponsor for the FIFA World Cup 26™. This marks the first time a financial institution has become a global sponsor in the banking category for FIFA.

The American Fintech Council (AFC), an industry association representing responsible fintech companies and innovative banks, has submitted a comment letter to the Department of the Treasury in response to its Request for Information on Uses, Opportunities, and Risks of Artificial Intelligence in the Financial Services Sector. In this letter, AFC recommends measures to develop a pragmatic regulatory framework for AI, aiming to increase clarity for industry participants and foster responsible adoption of AI technology in financial services.

All Financial Services Committee Republicans, led by Chairman Patrick McHenry (NC-10), have sent a letter to Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg demanding his immediate resignation. Despite announcing his intent to resign, Chair Gruenberg continues to push partisan regulatory initiatives while failing to address widespread and entrenched misconduct at the agency.

Yesterday, the American Financial Services Association (AFSA) submitted comments to the Consumer Financial Protection Bureau (CFPB) on its proposed rule concerning medical debt. In the letter, AFSA highlighted four specific issues with the proposed rule.

The American Fintech Council (AFC) has announced the addition of Scienaptic AI as its newest member. Scienaptic AI, a provider of AI-powered credit underwriting platforms, will join other fintech innovators to enhance consumer services and regulatory compliance.

The new Labour government has made planning reform central to its mission to drive economic growth and to "get Britain building."

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