PFSC Combines Operations with First Associates

With First Associates joining PFSC as part of the Stone Point Capital network of companies, they will be combining operations to form a single, world-class financial servicing company. PFSC and First Associates are two premier loan servicing companies in the industry, so it makes sense to leverage both companies’ experience, assets and relationships. “Bringing together… Read more »

Top Equipment Acquisition Trends`

Equipment Leasing and Financing Association Reveals Top Equipment Acquisition Trends

Every year, businesses, nonprofit organizations, and government agencies throughout the U.S. spend almost $2 trillion on different capital goods and fixed business investments. This represents a significant portion of the entire U.S. economy, which is why groups like the Equipment Leasing and Finance Association do their best to predict the trends that they believe will… Read more »

Financial Symbols on Tech Screen`

One Important Number in Financial World Will Disappear Soon

There are obviously a lot of numbers that are considered important in the world of finance. But you could make the argument that none is more important than the London Interbank Offered Rate, better known as “LIBOR”. Since LIBOR was first introduced back in the 1980s by the British Bankers’ Association, lenders around the world… Read more »

Person Paying with Credit Card on Phone`

Federal Reserve Study Reveals Increase in Card and Electronic Payments

As of a few decades ago, Americans paid for just about everything with cash or check. Every now and then, a consumer would use a credit card to make a major purchase but for the most part, they relied on cash or checks to pay mortgages, utility bills, groceries, and more. The rapid pace of… Read more »

Exterior of Bank Building`

Federal Deposit Insurance Corporation Encouraging New Banks

It might feel like there’s a new bank popping up on every corner in America these days. But, the total number of banks in the U.S. has dwindled significantly over the course of the last 30 years. About three decades ago, there were more than 18,000 banks scattered across the country. But today, there are… Read more »

Data Filled Table with Professionals`

Commercial Lenders Subject to California’s First-of-Its-Kind Truth in Lending Bill

In 1968, the Truth in Lending Act was established to protect Americans who chose to use consumer credit. The federal law called for creditors to disclose the full terms of the loans they were giving out to consumers to make sure they fully understood the loans and the cost of such loans. Over the past… Read more »

Business Meeting Concept`

Investors Pour More Than $14 Billion Into Fintech in First Half of 2018

Investors have been pouring money into U.S. based financial technology companies for quite some time now. Investments are on the rise through the first half of 2018, according to a report released by KPMG at the end of July. The report indicated that investors put up more than $14 billion to invest in fintech companies… Read more »

Portfolio Financial Servicing Company - Portfolio Management`

Understanding Inevitable Change will Come to Equipment Finance

As with many industries, the world of financial services is in a good place. Currently, money is going in, and money is going out, and those who work in the industry are glad to be a part of it. However, there comes a time in every industry when the professionals within it have to look… Read more »

Credit Card Spending`

WalletHub Estimates U.S. Credit Card Debt Exceeds $1 Trillion

We might like to think we learned a few valuable lessons from the financial crisis of 2008, but new data from the Federal Reserve is raising concerns about the credit habits of American consumers, and the lending practices of their banks. According to a recent report from WalletHub, credit debt in America grew by $92… Read more »

Federal Reserve Building`

New Fed Report Suggests an Interest Rate Hike Is Imminent

Many economic analysts have been predicting an interest rate hike in the near future, and the latest report from the Federal Reserve suggests it could come as soon as the end of the month. Published on Wednesday, March 7, the report noted “persistent labor market tightness across the United States, with accelerating wage gains in… Read more »