US consumer credit picks up in February

US consumer borrowing accelerated in February and consumers resumed using their credit cards as the economy recovered from the coronavirus pandemic, according to Federal Reserve data released Wednesday. Total consumer credit at an annual growth rate of 7.9%, after remaining stable in January. Economists expected a much smaller increase, according …

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How to create your credit without a credit card

Photo: Africa Studio (Shutterstock) It’s very good to prefer “buy now, pay later“Credit card payments or to simply avoid the plastic debt trap. The only problem is that without a credit card it’s harder to increase your credit score, which means you will have a harder time qualifying for a …

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HSBC joins the Partnership for Carbon Accounting Financials

HSBC has joined the Partnership for Carbon Accounting Financials (PCAF) to help the bank measure and disclose its funded emissions as it strives to achieve its ambition of net zero. The CFP is a collaboration between financial institutions around the world to enable harmonized assessments and disclosures of greenhouse gas …

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Big Banks Cut Fossil Fuel Lending, But For How Long?

U.S. banks cut lending to the fossil fuel industry last year, according to a new report, but environmental groups say the drop stems more from weak energy demand during the pandemic than from the major banks’ commitment to reduce funding for companies that contribute to climate change. In recent months, …

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Strong mortgage banks advised to redeploy money to boost profits

While heavily mortgage-backed banks may see an impact on their income from a decrease in initiations, they may mitigate it by strategically redeploying excess cash, according to a report by Keefe, Bruyette & Woods. The improving U.S. economy and growing immunization rates have helped rising mortgage rates these last weeks. …

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Beware of the borrower: loans come at a high cost

Questions are already being raised as to whether the federal dollars flooding the U.S. economy during the Covid-19 crisis are reaching their intended recipients. Rightly so, when billions of taxpayer dollars are at stake. But it should make companies think twice before taking federal money. Clearly, there should be a …

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Closing of the first SGR unlimited fund, the “unlimited credit

MILAN, Italy, April 01, 2021 (GLOBE NEWSWIRE) – via InvestorWire – illimity SGR, the asset management company of the illimity group created to set up and manage alternative investment funds, has completed the first closing of “illimity Credit & Corporate Turnaround “(the”Funds” or “iCCT”) —A contribution fund dedicated to investments …

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