-
2 months ago | 
badcredit.org | Mike Senecal |Andrea Woroch |John Ulzheimer |Erica Sandberg
Key Takeaways Formed in 2024, America's Credit Unions is the unified advocacy and trade organization for today's future-focused credit unions. Through America's Credit Unions, industry professionals organize themselves in Councils representing eight financial services disciplines.
-
2 months ago | 
badcredit.org | Mike Senecal |Andrea Woroch |John Ulzheimer |Erica Sandberg
Last week, Sen. Ted Cruz, R-TX, introduced legislation to defund the CFPB and President Donald Trump fired its Biden-appointed director, Rohit Chopra. Republicans and Democrats promise to square off in the coming weeks and months with the future of financial regulation at stake. Looking at the CFPB’s history highlights its accomplishments and missteps and points to the opportunities ahead.
-
2 months ago | 
badcredit.org | Mike Senecal |Andrea Woroch |John Ulzheimer |Erica Sandberg
Lower-cost credit union credit cards save households money and keep resources in local communities. But big banks and national affiliate marketing sites swamp the credit union message with an appeal based on low introductory rates and rewards. CardFit helps credit unions of all sizes reach local membership segments with its credit card comparison tool that shows the value of lower-interest debt.
-
2 months ago | 
badcredit.org | Mike Senecal |Andrea Woroch |John Ulzheimer |Erica Sandberg
For better and for worse, consumers — particularly millennials born from 1981 to 1996 and Gen Z members born from 1997 to 2012 — are flocking to a growing group of financial social media influencers, or “finfluencers.”Access to all forms of financial advice online is increasing at a time when institutional control over content is waning. That almost certainly means changes in how the subprime space views and serves its customers.
-
2 months ago | 
badcredit.org | Mike Senecal |Andrea Woroch |John Ulzheimer |Erica Sandberg
CFPB research from January 2025 accessed applications, originations, and de-identified credit records from six BNPL providers. The data revealed that almost 25% of credit account holders used BNPL in 2022 and that frequent BNPL customers tend to overuse other forms of credit. As the Trump administration seeks to turn regulatory skepticism into action in financial services, the study stands as the most comprehensive snapshot of consumer use patterns in the BNPL industry.
-
2 months ago | 
badcredit.org | Mike Senecal |Andrea Woroch |John Ulzheimer |Erica Sandberg
In a Nutshell: Technology has now gotten us to the point where machines can perform some of our cognitive work. That’s a good thing for busy folks who maybe don’t have the credit score to get them to where they want to be financially. The brain inside the new Dovly app not only looks at the details of your credit report to identify and fix inaccuracies, it analyzes your credit history to recommend personalized strategies to boost your numbers.
-
Jan 22, 2025 | 
badcredit.org | Mike Senecal |Andrea Woroch |John Ulzheimer |Erica Sandberg
Financial planners have a role to play in helping traditionally underserved consumers build a more secure futureTechnology and other transformations have streamlined consumer access to financial adviceCFP certification helps financial planning practitioners serve consumers from all walks of lifeFinancial planning is vital for consumers at all income levels, including those in the traditionally underserved subprime space.
-
Jan 21, 2025 | 
badcredit.org | Mike Senecal |Andrea Woroch |John Ulzheimer |Erica Sandberg
The news initially reported in the Financial Times about credit card defaults hitting a 14-year high in data from 2024 (here’s an open-access link to a story about that announcement) got me thinking about where subprime lenders might feel the implications. So I went out in search of context and found that the data analytics consultant S&P Global Intelligence also pegged corporate bankruptcies at a 14-year-high in 2024.
-
Jan 20, 2025 | 
badcredit.org | Mike Senecal |Andrea Woroch |John Ulzheimer |Erica Sandberg
You’ve seen the figures. According to the Federal Reserve, the total amount of credit card debt reached $1 trillion in 2023, on its way to $1.17 trillion in the third quarter of 2024. Additionally, the Financial Times recently revealed that the total amount of credit card defaults for the first nine months of 2024 was $46 billion, which is more than at any other time since the Great Recession in 2008.
-
Jan 9, 2025 | 
badcredit.org | Mike Senecal |Andrea Woroch |John Ulzheimer |Erica Sandberg
In a Nutshell: In a perfect world, all small businesses would rise and fall based on their products and services. But the logistical challenge of managing a solopreneurship or microbusiness causes many to fail before they give themselves a chance. That’s why so many up-and-coming firms in the U.S. and Canada trust Wave to handle their invoicing, payments, payroll, and accounting.
