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Trump plan to cap credit card costs hits bank shares

Shares in banks and credit card firms have fallen after US President Donald Trump called for credit card costs to be capped. On Friday, Trump wrote on Truth Social that interest rates on cards should be limited to 10% for…
Legal News

Housing affordability isn’t just hurting buyers: More homeowners are falling behind on their mortgages

Housing affordability challenges are weighing on not only would-be buyers, but also on a growing share of existing homeowners, new data suggests. Late-stage mortgage delinquencies — those with payments at least 90 days past due — rose 18.6% in December…
Editorial News

What’s Changing in US Debt Collections in 2026 and Why It Matters Now for Creditors

January is typically when creditors reassess risk, performance, and partners. In 2026, that reassessment carries more weight than usual. Consumer financial pressure remains elevated, regulatory expectations are firm, and borrower behavior continues to evolve. Together, these forces are reshaping how…
Bankruptcy News

Wall Street braced for a private credit meltdown. The risk of one is rising

The sudden collapse last fall of a string of American companies backed by private credit has thrust a fast-growing and opaque corner of Wall Street lending into the spotlight. Private credit, also known as direct lending, is a catch-all term for lending…
Educational News

Over 800,000 student loan borrowers remain in backlog for forgiveness, affordable repayment plans

More than 800,000 federal student loan holders remain stuck in a backlog of applications for an affordable repayment plan or debt forgiveness, a new court filing shows. As of the end of December, 734,221 borrower requests to transfer into an income-driven repayment…
Editorial News

Fed holds interest rates steady: What that means for mortgages, credit cards and loans

The Federal Reserve kept its benchmark interest rate unchanged Wednesday at the conclusion of its first policy decision of the year. In the face of escalating political pressure from President Donald Trump, a softening labor market, persistent inflation pressures and an uncertain geopolitical landscape, “there is no shortage of…
Legal News

Mortgage demand drops 8.5%, as interest rates swell to the highest level in 3 weeks

After dropping sharply, mortgage interest rates rose last week for the first time in a month. That pushed total mortgage demand down 8.5% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract…
Government News

Trump wants lower borrowing costs but a Fed rate cut may be months away

The Federal Reserve is set to announce if it will adjust its benchmark interest rate on Wednesday, with President Donald Trump pushing for a rate cut. Trump renewed his call for interest rate cuts in a speech at the World Economic Forum on Jan.…
Legal News

Trump calls for Congress to enact 10% credit card interest rate cap; bank stocks rise

President Donald Trump on Wednesday urged U.S. lawmakers to pass legislation to limit credit card rates to 10%, following his social media post this month ordering banks to voluntarily lower their rates. “I’m asking Congress to cap credit card interest rates at 10% for…
Bankruptcy News

Amazon threatens ‘drastic’ action after Saks bankruptcy, says $475M stake is now worthless

Amazon wants a federal judge to reject Saks Global’s bankruptcy financing plan, writing in court papers the beleaguered department store “burned through hundreds of millions of dollars in less than a year” and failed to hold up their agreement.  When Saks acquired Neiman Marcus for $2.7…