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Rising interest rates on loans, greater borrowing and higher fees on deposit accounts all contributed to the increase. "Altogether, this paints a picture of debt that could really start to strain the checkbooks of American families," said Meghan Greene, a researcher at the nonprofit organization that authored the report.
June 25 -
Some of the firms include Sequoia Capital, the world's most prominent venture-capital firm, which got covered for the $1 billion it had with the lender. Kanzhun Ltd., a Beijing-based tech company that runs mobile recruiting app Boss Zhipin, received a backstop for more than $900 million.
June 23 -
The American Bankers Association's Economic Advisory Committee said access to loans is likely to further soften, while defaults and credit losses could increase in the second half of the year.
June 20 -
The American Bankers Association's credit conditions index remained near historic lows despite a slight uptick in the most recent quarter. Pessimism pervaded the outlook for both business and consumer lending.
June 16 -
The Federal Reserve chair said that as the Treasury replenishes its general account at the Fed, it will lead to fewer reserves in the banking system.
June 14 -
CEO Curtis Farmer said the warehouse sector, where Comerica provides lines of credit to mortgage banking companies, has not been providing much help as the company seeks to bolster deposits.
June 13 -
Sen. JD Vance, R-Ohio, lambasted the Federal Reserve for increasing the dominance of "too big to fail" banks and failing to rein in systemic risk. He asked whether the Office of the Comptroller of the Currency is a better regulator than the Fed.
June 13 -
Consumer Financial Protection Bureau Director Rohit Chopra warned that "powerful firms" must not dominate the new open banking landscape.
June 12 -
The slow rollout of Apple's buy now/pay later service contrasts starkly with the aggressive moves of leading BNPL fintechs. Analysts say Apple's restraint could pay off in time.
June 9 -
The Providence, R.I.-based bank has been scaling down its indirect auto lending program since last year.
June 7