Lending Will Accelerate in 2025 As Consumers Get Used to Today’s Interest Rates

TransUnion research indicates growth coming to some lending sectors and stability coming overall. Unsecured personal credit beckons both primary lenders and banks that buy loans for their portfolios.

Originations in auto loans, unsecured personal loans, and purchase mortgages will rise in 2025, in spite of continuing lender caution and the Federal Reserve’s leaning towards only one interest rate cut for the year, according to TransUnion. The credit bureau also forecasts that the slowdown in originations of bankcard accounts will decelerate, pointing to the possibility of a return to growth in new accounts in the future.

TransUnion makes these predictions on the basis of trends seen in the fourth quarter of 2024 and a reading of what consumers are thinking. It’s not a boom, but some potential improvement.

Read more at The Financial Brand

Walmart Mexico readies launch of debit card service

MEXICO CITY, Feb 27 (Reuters) - Walmart's Mexico and Central America unit (WALMEX.MX), opens new tab is preparing to launch its debit card service, an executive said on Thursday.

WHY IT'S IMPORTANT

Walmex, as the company is also known, is Mexico's largest retailer. It bought a payment app in 2023 to become its fintech service, known as Cashi, which faces competition from other major market players such as lender Nubank and e-commerce giant MercadoLibre.

KEY QUOTES

"Very soon we'll be able to launch our Cashi account," said Walmex's head of financial services, Marcelino Herrera, "where we'll offer an account with a debit card."

Read more at REUTERS

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Banks have closed nearly 40% of branches in economically distressed counties over the past decade

Bill would grant permission for credit unions to serve residents without nearby access to financial services options

Raleigh, NC (February 26, 2025) | House leaders introduced a bill on Monday to address dwindling financial services options available to North Carolinians, especially in rural areas.

Since 2013, banks have closed nearly 40% of branches in Tier 1 counties, which the NC Department of Commerce classifies as the 40 most economically distressed counties in the state. More than 640 bank branches have closed statewide. For example, FDIC data shows that eight counties, all of them in eastern North Carolina, now have a total of six bank branches between them. In 2013, they were home to 27 branches.

First sponsored by state Reps. Julia Howard (R-Davie), John Bell (R-Wayne), Jennifer Balkcom (R-Henderson), and Ya Liu (D-Wake), the bill continues to garner bipartisan sponsorship support from House members.

Read more at CU INSIGHT

States look at shoring up consumer protections as Trump hobbles federal watchdog

Experts predict a more partisan divide on how states address consumer complaints.

Illinois state Sen. Mark Walker already was working on legislation to bolster the state’s protections for consumers. But now that President Donald Trump has attacked the federal government’s consumer watchdog, Walker said it’s even more important for Illinois to act.

Walker, a Democrat, sponsored a bill to bolster the state’s existing bank regulator to help fill the void left by weakening of the federal Consumer Financial Protection Bureau, which Trump and billionaire Elon Musk have targeted for elimination.

Read more at STATELINE

50 Million Credit Card Outsiders May Be Winners as Banks Bid for Their Business

For years, the so-called “credit card outsiders,” a diverse group of American consumers that includes a variety of cohorts, have each independently resisted the credit card siren song of rewards points, cash-back offers, and financial flexibility.

Many of these individuals rely on cash, debit cards, or alternative financial services, often missing out on the benefits of building a solid credit history. Remarkably, these are not just fringe consumers but a group that is tens of millions strong and which boasts significant purchasing power.

Tapping into this market could be a game-changer for any financial institution (FI), and data from the new “Consumer Credit Access Report” by PYMNTS Intelligence in collaboration with Atelio reveals that the key to winning over this crowd might just lie in a tailored approach. 

Read more at PYMNTS.COM

DOGE fires federal tech team that built free tax-filing site

WASHINGTON, March 1 (Reuters) - The Trump administration has pulled the plug on a team of tech-savvy civil servants that helped to build the Internal Revenue Service’s free tax-filing service and revamp websites across government, a spokesperson for the General Service Administration said on Saturday.

GSA’s Director of Technology Transformation Services Thomas Shedd notified employees of a digital service team known as 18F that their jobs had been terminated as they had been identified as “non-critical."

Roughly 90 18F employees were immediately locked out of their devices.

The GSA said the action had been taken in support of a number of executive orders, including the "Implementing the President’s Department of Government Efficiency Workforce Optimization Initiative," dated February 11.

Read more at REUTERS

5 best banks and credit unions for military (2025)

We analyzed fees, customer experience, product selection, account features, account security, and more.

Many banks and credit unions tailor their products and services to better serve their customers. And some focus specifically on serving military personnel and their families.

We compared the top FDIC- and NCUA-insured banks and credit unions for military members, evaluating key metrics such as membership eligibility requirements, fees, customer experience, product choice, and more. (See our full methodology here.)

The following is our ranking of the five best banks and credit unions for military members, veterans, and their families in 2025. Read on to learn more about each one.

Read more at YAHOO FINANCE

Affordable financial products and services for the unbanked and underbanked: MAYA

We are working with best-in-class teams and providers, integrating existing financial services with emerging networks, specifically designed to empower under-served communities.

Maya is a social initiative technology company that provides financial services infrastructure for under-served communities in the U.S and abroad. One third of the U.S. and over 2.5 billion people worldwide rely on expensive alternative financial services. Maya provides fast, convenient and low cost financial services with a self service kiosk that takes cash and dispenses cash. Maya’s mission is “transforming financial services for the underserved”.

Smart ATM is a platform.

The Smart ATM is a self-service payment platform that connects cash based communities to digital economy. Just like a smartphone, SMART ATM runs multiple apps which include check cashing, money transfer, bill payment, prepaid cell phone reload, and many more. SMART ATM is designed to replace traditional ATMs at retail stores. Maya will continue to add more apps to the Smart ATM. The possibilities of a Smart ATM is endless!

Read more at MAYA Labs Inc

Map Shows Region With the Most Credit Card Debt

As inflation and high interest rates squeeze household budgets, credit card debt weighs heavily on millions of Americans—but not equally across the country.

A new survey by Talker Research for Newsweek has revealed that Americans in the northeast are most likely to carry credit card debt, with 75 percent reporting balances on their cards.

In contrast, the southeast had the lowest percentage of credit card debt at just 63 percent.

The data highlights a troubling financial reality: while credit cards offer flexibility, they also carry some of the highest interest rates. That can turn a temporary shortfall into a long-term burden, especially in regions where other forms of debt—like mortgages, auto loans, and medical bills—are also widespread.

Read more at NEWSWEEK

Capital One and Rocket Homes lawsuits dropped by CFPB as Trump guts consumer protections

The Consumer Finance Protection Bureau has dismissed the Rocket Homes case ‘with prejudice,’ meaning the lawsuit cannot be refiled.

The Consumer Finance Protection Bureau has dropped several enforcement actions against companies like Capital One and Rocket Homes, just weeks under new leadership and turmoil at the agency caused by orders from Trump administration.

In notices of voluntary dismissals filed on Thursday, the CFPB dropped lawsuits it had brought against Capital One, Rocket Homes, Vanderbilt Mortgage and Finance, owned by Warren Buffett’s Berkshire Hathaway, and others.

Those suits were all filed under the agency’s previous director, Rohit Chopra, who President Donald Trump fired just weeks ago. The CPFB has since plunged into turmoil—with the White House later ordering it to halt nearly all its work. The administration also closed the agency’s headquarters and moved to fire scores of its workers.

Read more at ASSOCIATED PRESS

Banking Institutions Must Get Use of AI and Automation Right Or Waste Money

AI and Automation Are Different Tools. Misunderstanding the Difference Will Hit Your Wallet

AI may be all the rage, but you don't always need to use its expensive power to get the job done. Banker Corey LeBlanc brings a practitioner's eye to when to use one and when to use the other.

Running a business takes all kinds of talent — visionaries who map out the future and operators who make things happen. In banking terms, you wouldn’t rely on a high-powered trading algorithm to reconcile routine accounts, nor would you trust a simple batch processing system to detect complex fraud patterns.

Artificial intelligence and automation are no different. Each has its role, and knowing when to deploy one or the other can mean the difference between smart investments and costly missteps.

Read more at The Financial Brand

Tax refunds in 2025 are about $1,000 less than in 2024. Here's why.

With tax season well underway, early data on the average tax refund shows that Americans are receiving about one-third less than they did a year earlier. 

The average refund check in 2025 stood at $2,169 as of Feb. 14, about 32% below the average $3,207 refund issued at the same time last year, the IRS said in its most recent tax update. The agency began accepting tax returns on Jan. 27 and will continue to do so until April 15 except for taxpayers who request an extension.

Those numbers don't necessarily mean that individual taxpayers will get a smaller refund, experts note. Refunds are typically smaller at the start of the tax season because low- and middle-income workers with simpler tax returns are often the first to file, while higher-income Americans or people with more complicated taxes tend to wait until closer to the April 15 deadline to file their returns.  

"Many employees, all they have is a W2 — they have smaller refunds or smaller amounts to pay because they have withholding through their jobs," Keith Hall, CEO of the National Association for the Self-Employed (NASE) and a certified CPA, told CBS MoneyWatch. 

Read more at CBS NEWS

Speedy Cash: Reviews and Ratings: https://www.speedycash.com/

When you’re in a financial bind and need cash fast, finding a reliable lender can be challenging. Whether it’s an unexpected medical bill, urgent car repair, or rent due before your next paycheck, payday loans often seem like a quick solution. If you’ve searched for short-term loan options, you’ve likely come across Speedy Cash, one of the most recognized names in the payday lending industry.

But how does it compare to other lenders? Are the interest rates fair? Do customers find their services reliable? Before applying, it’s crucial to understand real customer experiences, loan terms, and potential risks.

Since its founding in 1997, it has served borrowers, offering payday loans, installment loans, title loans, and lines of credit. This article breaks down their loan offerings, customer reviews, legal compliance, and overall reputation, so you can decide whether it’s the right financial solution for you.

We’ll examine real customer feedback, competitor comparisons, and repayment flexibility, ensuring you have all the information you need before borrowing.

Read more at USA INQUIRER

Big Banks Are Heading South… and Loving It

Want more pie? Slice into new markets. The Southeast is especially tasty right now to brands like PNC, Fifth Third and Huntington, joining the ranks of Chase and Bank of America.

In early February, JPMorgan Chase announced plans to triple the number of branches it has in Alabama to 35 by 2030, part of the megabank’s massive multi-year expansion into new markets and in-filling of markets it already serves.

For the sake of perspective, note that number is dwarfed by the size of the branch network of the state’s largest home bank, Regions, which had 1,262 branches as of mid-June 2024. However, the plans for growing the Chase network in Alabama are significant because Chase opened its first Alabama bank just five years ago. And now, according to a statement from the bank, the trebled network would put over half of Alabama’s population within "an accessible drive time to a Chase branch."

The bank was convinced to expand in Alabama because of its "strong manufacturing economy, good small business growth, and burgeoning aerospace and technology sectors."

Read more at The Financial Brand

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How Wells Fargo Is Helping Customers Achieve Long-Term Financial Success

If the idea of opening a checking account stirs up feelings of skepticism and confusion, you’re not alone. For many individuals and families living in the U.S.—trusting financial institutions with their money remains an ongoing challenge. Today nearly 5.6 million households in the country are still without a traditional bank account—and of those households, nearly 50 percent are within communities of color.

Wells Fargo knows a bank account is paramount to overall financial success. To address barriers facing unbanked communities, Wells Fargo launched the Banking Inclusion Initiative led by Michael Martino, head of diverse customer segments for consumer and small-business banking. Through this initiative, the bank is devoted to providing unbanked and underserved individuals with financial education and easier access to low-cost banking solutions.

Read more at OPRAH DAILY

4 Reasons to Buy Nearly Everything With Credit Cards

When it comes to paying for everyday expenses, credit cards often get a bad rap. But if used responsibly, they can be a powerful tool to secure free flights and even grow your wealth. Beyond the convenience factor, credit cards offer perks and protections that cash and debit cards simply can't match.

Here are four reasons why you should consider using credit cards for nearly all your purchases.

1. Earn rewards on every purchase

Why leave free money on the table? Many credit cards offer rewards programs that let you earn points, miles, or cash back on your everyday spending. From groceries to gas to streaming services, you could be racking up rewards with every swipe.

Some cards offer flat-rate rewards on all purchases, while others give extra points for spending in specific categories like dining or travel. Those rewards can add up quickly -- especially if you use your credit card for most of your purchases

Read more at MOTLEY FOOL MONEY

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Consumer watchdog payouts in limbo as agency defanged by Trump administration

(Reuters) - The Trump administration's decision to put the U.S. Consumer Financial Protection Bureau on ice has left a $100 million pot of money intended for borrowers allegedly harmed by the student loan servicer Navient sitting in limbo, according to an advocacy organization.

The agency's work stoppage also calls into question the fate of potentially hundreds of millions of dollars of separate payouts from financial services companies like Cash App parent Block, TD Bank and the lending arm of Honda, which have been ordered to compensate allegedly harmed consumers, two people familiar with CFPB's operations say.

Read more at REUTERS

The Silly Rule That's Helping Keep Housing Costs High: PEW

In too many American cities, numerous downtown office buildings sit barely used, their absence of workers gutting nearby businesses. Meanwhile, hundreds of residents, too poor to afford shelter, sleep on the streets. Addressing these problems is within our grasp.

We can start by getting rid of local rules that require that apartment windows can be opened.

Think about it. When was the last time you opened a window in an office high-rise? Or in a big city hotel room? This rule, made before the invention of air-conditioning and mechanical ventilation, serves little practical purpose today. An open window may be pleasant in the right weather, yet it is also one of the biggest barriers to addressing some of our nation’s most serious problems: housing affordability, homelessness, and struggling city downtowns.

Read more at The Pew Charitable Trusts

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