Bad Credit

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 | Andrew Allen |Andrea Woroch |John Ulzheimer |Erica Sandberg

In a Nutshell: No one looks forward to a phone call from a debt collector. But Remynt brings empathy to collection practices and offers educational resources that show consumers how to repay their debts while building their credit. The company uses customer feedback to develop strategies that help consumers overcome financial challenges and make wise decisions with money. Many people consider Michael Jordan to be the greatest basketball player of all time.