Author: creditcardsconsolidated

Home » Resources » Blog » Know About Your Car Insurance Credit Score – And How It Can Get You Denied The National Association of Insurance Commissioners (NAIC) estimates that 95% of auto insurers conduct credit checks when calculating car insurance premiums. Your credit history is important, as auto insurance companies may legally assess consumer credit information when making decisions such as when determining insurance rates in most states. How Does A Credit Score Affect Car Insurance Rates? Auto insurance companies access credit information from the consumer credit bureaus to guide them when determining auto insurance rates. The following table…

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WASHINGTON — The 2024 election turned on its head this week, as a galvanized former President Donald Trump, bandaged ear from a failed assassination attempt, officially accepted the Republican nomination for the presidency. President Joe Biden, meanwhile, retreated into his Rehoboth beach, Del., home on Thursday, isolating with a recent Covid diagnosis as political pressure mounted for him to step aside amid concerns from his own party about his mental and physical ability to withstand another four years of political service. The dramatic events of the week bolstered the Republican ticket, where Trump is now joined by Sen. JD Vance, R-Ohio, giving…

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Rohit Chopra, director of the Consumer Financial Protection Bureau, said the agency’s forthcoming proposal to treat earned wage access payroll advances as loans subject to Truth in Lending requirements is meant to prevent delays in workers getting paid, which “can exacerbate the problems people face and trap them in cycles of debt.”Bloomberg News The Consumer Financial Protection Bureau is proposing an interpretive rule that would classify payroll advances as consumer loans subject to annual percentage rates and fee disclosures, a move that could upend the earned wage access industry.On Thursday, the CFPB is expected to issue new guidance that would…

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A West Reading, Pennsylvania, bank was named as American Banker’s top-performing midsize bank. The $21.3 billion-asset Customers Bancorp was the best-performing bank with between $10 billion and $50 billion of assets based on year-end 2023 data. The annual list is compiled by the consulting firm Capital Performance Group, which uses each institution’s three-year average return on average equity, or ROAE, to determine the ranking. Overall, Capital Performance Group ranks banks in three other asset classes, besides this midsize category: pPublicly traded banks under $2 billion of assets; banks with between $2 billion and $10 billion of assets; and banks with more…

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Interest rates and inflation are on everyone’s minds. Cost-conscious customers want to see value for their money and don’t want to pay for what they don’t use. Companies, in turn, are looking to better align their pricing with costs. Even as budgets tighten, they want to attract new customers, reduce churn and boost revenue.  The upshot? Small and large businesses across industries are rethinking how they price their products. That’s where usage-based pricing comes in. If you haven’t yet considered this pricing model, now might be the time.  ​​​What is usage-based pricing and why does it matter?   Usage-based pricing means…

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Joel Mundy and Matt Roberts-Sklar When markets are volatile, liquidity tends to worsen. This makes it harder to intermediate buyers and sellers. We saw this during the 2022 liability-driven investment (LDI) stress, when the UK government bond (gilt) market exhibited extreme volatility. This illiquidity was also evident in gilt futures, derivatives that support functioning in the cash gilt market. Gilt futures are traded on an electronic orderbook, meaning we can examine liquidity metrics at very high frequency. Looking across a range of liquidity metrics for gilt futures, we find that liquidity was broadly unchanged following the Monetary Policy Committee’s (MPC’s)…

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Federal Reserve Gov. Adriana Kugler said private data is playing a bigger role in the central bank’s policy considerations.Federal Reserve Board of Governors Private data sources are playing a key role in how the Federal Reserve is tracking housing cost trends and other key economic indicators, according to a top Fed official.Fed Gov. Adriana Kugler said in a speech Tuesday on data measurement that traditional government surveys can be slow and reliant upon outdated methodologies. She also noted that falling response rates have made findings less accurate. “While these challenges in traditional data that I have described may take some time…

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Recently released results from a survey by American Banker’s parent company Arizent indicate that, as banks look to protect their digital channels from automated fraud, branches and call centers have been left behind, leaving them more vulnerable to branch-based fraud activities.The finding is one of many in the research on maximizing fraud prevention while minimizing customer inconvenience. The research is based on a May survey of 158 banking professionals, including executives and upper management at banks of various sizes, mostly banks with more than $10 billion in assets.The survey results explain why banks including JPMorgan Chase have been looking to…

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Bankers and financial services professionals should be monitoring the rollout of the EU Digital Identity Wallet initiative, as it signals changes likely to arrive in the U.S., writes Adam Coyle.nerthuz – stock.adobe.com The European Union is spearheading significant regulatory changes with the adoption of the Digital Markets Act, or DMA, which will allow consumers to transition more seamlessly between competing online services and marks a new era for how digital platforms operate. The DMA, coupled with the EU Digital Identity, or EUDI, Wallet initiative, underscores the growing importance of and reliance on digital wallets for replacing old methods of identification…

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  Sen. J.D. Vance, R-Ohio, arrives during the Republican National Convention in Milwaukee, Wis., on Monday. Donald Trump chose Vance as his vice presidential running mate Monday, a move that marks a turn away from traditional conservative orthodoxy concerning corporate power.Bloomberg News WASHINGTON — Former President Donald Trump has tapped Sen. J.D. Vance, R-Ohio, as his vice presidential pick for the 2024 presidential election ticket. Vance, a new member of the Senate Banking Committee, is currently serving as the junior senator from Ohio. He was vaulted to fame after the publication of his 2016 memoir, Hillbilly Elegy, which described the economic…

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