Financial institutions around the world have been fined US$10.6 billion for regulatory non-compliance, including Anti-Money Laundering (AML) and Know Your Customer (KYC) during the 2020 financial year according to the AML/KYC Tracker of PYMNTS and Trulioo. PYMTS reports that digital fraud against consumers increased by 24% in the period from January to April 2021 compared […]
Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We may receive a commission when you click on links to our affiliate partners’ products. When you make your credit card payment late, you are often subject to late fees and an APR penalty, which […]
SEOUL, Sept. 30 (Yonhap) — Finance Minister Hong Nam-ki said Thursday that the government will strive to limit household debt as much as possible, but also plans to explore ways for people to contract loans within the limit of their ability to repay their debts. Hong made the remarks during a policy coordination meeting with […]
Financial institutions in G20 economies have nearly $22 trillion of exposure to carbon-intensive sectors, 60% with banks, 30% with asset manager equity portfolios and the rest is weighted in cash and government securities, according to a report. While banks’ exposure stands at $13.8 trillion, asset managers’ equity holdings stand at $6.6 trillion and the remaining […]
The State Bank of India said on Wednesday it was trying to find a way to debt finance start-ups because current rules allow banks to finance only profitable businesses. Start-ups raise funds to run their businesses and promoters are forced to dilute their stake because debt financing is not available to the sector because they […]
Few things are more private than your household finances. Under the guise of closing the “tax gap,” the Biden administration and its congressional allies are trying to push through a new partisan reporting system in which financial institutions report customer transactions to the Internal Revenue Service (IRS). This proposal would turn every American’s local bank, […]
Perhaps one of the most worrying signs of climate change, unprecedented wildfires have broken out in several Mediterranean countries in recent weeks, devastating the forests of many coastal cities in Turkey and Greece. The fires have ravaged homes and businesses, killed many farmers’ livestock and possibly even more wildlife. with temperatures estimated at 200°C. However, […]
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Given the ease with which it is possible to borrow a personal loan made possible by non-bank fintech companies, this lending segment has seen phenomenal growth over the past 3-4 years, according to data release by the CRIF High Mark credit bureau. The number of personal loans issued per year more than tripled between FY2017 […]
SEOUL, Sept. 15 (Yonhap) — Finance Minister Hong Nam-ki said Wednesday that the government will explore additional measures to reduce household debt, including stricter lending rules for non-bank institutions. , if necessary. Hong said the country would seek to minimize the impact of loan regulations on people trying to take out loans to find rental […]
Outstanding credit to non-bank lenders has been growing in the low numbers for much of the current year, with banks’ NBFC book actually down 2.2% year-on-year in June 2021. Growth in outstanding bank loans to non-bank financial corporations (NBFCs) has slowed significantly on an annual basis (year-on-year) in 2021, according to data released by the […]
The years 2020 and 2021 have been terrible for the economy. The coronavirus outbreak and subsequent lockdown has severely affected livelihoods. With everything closed, people struggled to meet their expenses and had to borrow money. And although credit cards are an easy option, personal loans are still preferred as they are the cheapest and are […]
Breadcrumb Links Personal finance Business essentials In 2021, the options for lenders go beyond traditional banks. The best personal loans come from many different companies, including these Publication date : Sep 02, 2021 • October 5, 2021 • 4 minute read • Join the conversation Photo by Jonathan Cooper /Unsplash Reviews and recommendations are unbiased […]