Credit card balances are up as more people are borrowing more money, while credit card delinquencies have declined during the first half of 2014.
As we’ve seen with the recent major data breaches at retail establishments and password hacking at Yahoo cybercriminals aren’t limited by budget, security regulations, or data use laws. Armed with private identity information acquired through data compromise, hacking, social engineering, or social networking, fraudsters are constantly on the lookout for vulnerabilities to attack valuable assets, [Read More...]
Credit card issuers and consumers have faced an 85% decline in credit line increase (CLI) eligibility since 2010 due to the ability-to-pay provisions of the CARD Act. This decline does not mean consumers are less worthy of credit increases, but instead is due to card issuers lacking the ability to meet the provision’s income verification [Read More...]
New data is pointing to a changing attitude toward credit these days, especially among the Generation Y. Also known as “Millennials” with birth dates between the early 1980s and the early 2000s, this group has a different attitude toward payment methods — and successful financial institutions are taking notice of the shift. Namely, the Generation [Read More...]