Latest news with #credit
Wall Street Journal
3 hours ago
- Business
- Wall Street Journal
KKR Gets Boost From Asset-Based Lending Push
KKR sees an opening to make more asset-backed loans to individuals, as the New York firm continues to diversify away from its original business of leveraged buyouts. Firm executives on Thursday touted the growth potential of the asset-based lending business, one of several credit sectors where it has been expanding in recent years as mergers and acquisitions remain slow across the globe.
Yahoo
a day ago
- Business
- Yahoo
FICO Survey Finds Canadians Increasingly Justify First-Party Fraud Amid Rising Inflation Rates
Canadians are committing fraud to gain credit during cost-of-living crisis TORONTO, July 30, 2025--(BUSINESS WIRE)--FICO (NYSE: FICO) Global analytics software leader, FICO released new findings from the 2025 Consumer Survey: Fraud, Identity and Digital Banking CA highlighting Canadians' experiences with application fraud and their perceptions of how well banks are meeting their needs. The survey found that nearly one-third of respondents view first-party fraud—such as providing false information on financial applications—as acceptable in certain circumstances or even normal behavior. Many respondents cited the ongoing cost-of-living crisis as justification. As inflation continues to stretch household budgets, some consumers may be more likely to falsify application details in pursuit of credit. This poses an ongoing challenge for banks, which must detect fraud without adding unnecessary friction for legitimate applicants. Strengthening fraud prevention strategies while preserving trust and accessibility will be key to meeting evolving customer expectations. Identity verification is a crucial balancing act for banks As more Canadians embrace digital banking, their expectations for more efficient and secure experiences are rising. According to the survey, 31% are now more likely to open a financial account online than they were a year ago. At the same time, many reported noticing an increase in identity verification checks. Nearly half (49%) reported experiencing more frequent checks during online purchases, and the same (49%) while logging into bank accounts. While these measures are important for security, they can also create friction: 15% of consumers have reduced or stopped using their checking accounts, and 17% have done the same with credit cards due to the difficulty of identity checks—slightly higher than in 2023. These trends suggest the importance of striking a balance. While security remains a top priority, banks also need to ensure that digital processes remain user-friendly and accessible to keep customers engaged. "Canadians are demanding seamless digital banking and verification processes," said Adam Davies, vice president of product management at FICO. "Nearly 20% of consumers will abandon a checking account if identity checks are too difficult or time-consuming. Banks must continue to make opening processes convenient and secure to attract new customers and build trust." Rising demand for banks to offer digital new account openings 32% of Canadians say they are more likely to open a financial account digitally than they were a year ago. Across several product types, expectations for speed are high, over 40% of personal loan, credit card, and card loan applicants expect to spend less than 30 minutes opening a checking account. If the application process is too long and difficult, Canadians will abandon the application. These insights re-emphasize the needs for banks to optimize onboarding journeys to retain applicants and reduce abandonment rates. Consumers are concerned with fraud and identity theft Canadians continue to place high value on security. The survey found that 30% of consumers rank good fraud protection as one of the top three considerations when selecting a new account, while 71% rank it in their top three. Fingerprints and facial recognition were marked as a favorite security choice as 62% of consumers report that they either like or have a strong preference to use fingerprints, with 81% rating their security as good or excellent. At the same time, Canadians are seeing a rise in stolen identities. 6% of Canadians reported their stolen identity was used by a criminal to open a financial account—equating to approximately 1.8 million victims and marking an increase from 5% in 2023 and 5.6% in 2020. Despite the rising risk, many Canadians underestimate their personal exposure. While 71% of consumers rank the use of stolen identity to open an account as a top three fraud concern, 40% believe it's unlikely to have happened to them, and 23% are confident their identity has never been used this way. This disconnect between concern about identity theft and personal risk perception suggests many Canadians may be unaware they've already been affected or that they are currently at risk. For more details and insights regarding the survey results, download the 2025 Consumer Survey: Fraud, Identity and Digital Banking CA eBook. This survey was issued to 1,000 Canadian bank customers across age and income demographics. For more information on how FICO can help financial services organizations exceed customer needs and expectations, visit About FICO FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting four billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency. Learn more at Join the conversation at & For FICO news and media resources, visit FICO is a registered trademark of Fair Isaac Corporation in the U.S. and other countries. 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The Herald
2 days ago
- Entertainment
- The Herald
Simphiwe Dana dragged after accusing Nomzamo Mbatha of ‘stealing' her brand ideas
Singer Simphiwe Dana has come under fire after she accused actress Nomzamo Mbatha of copying her hairstyles. In a series of deleted X and Instagram posts, Simphiwe expressed frustration, claiming she was owed credit for inspiring Nomzama's hairstyles as well as the ones used on Shaka iLembe. 'I'm fed up with brands appropriating my style. The least you can do is acknowledge where you got the ideas from. I'm talking to you Shaka iLembe and Nomzamo Mbatha. The other sister I won't mention. It started here. Appreciate, don't appropriate,' she wrote. 'I don't know if it's a lack of creative thinking or what. I don't mind being appreciated. But stealing my brand ideas and not acknowledging me is foul, appropriative and exploitive. Stop.' Simphiwe's social media outburst received backlash with many comparing her hairstyles to those from way before her time.
Yahoo
3 days ago
- Business
- Yahoo
New Survey Highlights Credit Knowledge Gaps Among U.S. Adults
Credit One Bank Launches "The Credit Wreckers" Campaign to Help Consumers Avoid Credit Pitfalls and Build Better Credit LAS VEGAS, July 28, 2025 /PRNewswire/ -- A new survey conducted by Credit One Bank, a leader in the credit card industry, reveals a lack of knowledge of credit fundamentals among U.S. adults who own credit cards. The findings point to critical knowledge gaps in areas such as credit utilization, payment behavior, closing unused accounts and how these behaviors can negatively affect credit scores, underscoring the pressing need for financial education from a credible source. "Financial setbacks can affect anyone but understanding how credit works is a game-changer when building or rebuilding your financial future," said Steve Min, Chief Credit Officer at Credit One Bank. "Our recent survey results revealed that many Americans lack foundational knowledge about credit. By providing education resources, Credit One Bank aims to empower individuals to take charge of their credit health and build a stronger financial future." Survey Findings †The survey, conducted in partnership with YouGov, highlighted critical gaps in credit knowledge among U.S. adults who own credit cards: 72% were unaware that a missed payment can stay on their credit report for up to seven years. 65% were unaware that the maximum amount of available credit they should use at any given time is 30%. 70% were unaware that they should keep their oldest credit card accounts open and use them at least once every few months. 48% were unaware that creditors may close accounts due to inactivity, thus potentially reducing the length of their credit history. 34% didn't understand the difference between a hard and soft credit inquiry. These survey results revealed an opportunity for Credit One Bank to empower people on their credit journey by promoting greater financial literacy. Introducing "The Credit Wreckers" Campaign Today, Credit One Bank launched "The Credit Wreckers," a character-driven campaign spotlighting common credit missteps and encouraging improved credit habits. Each character personifies one of these missteps in a playful, easy to understand and informative way. Max Out: Max Out's eyes are bigger than his wallet. When he sees something he wants, he buys it…and his credit score pays the price. What Max Out doesn't know is that he should only use 30% or less of his available credit, because using his full line can lower his score.1 Miss Payment: Miss Payment means well, but more often than not, she misses her monthly credit card payments. What she doesn't know is that each missed payment can stay on her credit report for up to seven years. If only she would set up Autopay, she'd never miss a payment again.2 Cancelina: Watch out for Cancelina. She just loves canceling her unused credit cards once they're paid off. But what she doesn't know is that canceling them can decrease the length of her credit history and hurt her credit mix.3 "The Credit Wreckers campaign brings to life seemingly small actions that can wreck your credit score without you realizing it," said Amber Greenwalt, SVP of Brand and Advertising at Credit One Bank. "Small, incremental changes can have a big impact on improving credit health. Our goal with the Credit Wreckers is to simplify complex topics, and provide actionable tips, all while making it fun and relatable. Credit building doesn't have to be daunting, and this campaign is about making credit easier to understand for everyone, no matter where they are in their financial journey." The Credit Wreckers campaign comes to life across an integrated ad campaign narrated by actor Chris Parnell. The ads are featured across broadcast and social. To explore the Credit Wreckers campaign and meet the characters, visit For more financial tips, visit Credit One Bank provides credit education resources to help individuals understand and improve their credit health. From in-depth articles on over 20 topics to practical tips and insights, the company is dedicated to equipping cardmembers with the knowledge to help them make well-informed financial decisions. 1 Source: Credit One Bank, "4 Habits People with Good Credit Possess", Source: Credit One Bank, "How Long Does a Late Payment Stay on your Credit Reports", Source: Credit One Bank, "Should I Cancel My Credit Card", Survey Methodology †All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,007 adults, of whom 1469 have a credit card. Fieldwork was undertaken between 28 May - 2 June 2025. The survey was carried out online. The figures have been weighted and are representative of all U.S. adults (aged 18+). About Credit One Bank Credit One Bank is a financial services company and one of the fastest-growing credit card issuers in the U.S. Founded in 1984 and headquartered in Las Vegas, Credit One Bank offers a full spectrum of credit card products including cash back and points-based cards as well as high-yield certificate of deposit and savings accounts. Credit One Bank is also an official partner of the Las Vegas Raiders and the Official Credit Card of NASCAR, the Vegas Golden Knights and Best Friends Animal Society. Learn more at in our Newsroom, or on social media (@CreditOneBank) on Facebook, Instagram, YouTube and LinkedIn. Contact InformationScott MatulisPublic Relations DirectorEmail: 702.957.5327Mobile: 818.451.8918 View original content to download multimedia: SOURCE Credit One Bank Sign in to access your portfolio
Yahoo
3 days ago
- Automotive
- Yahoo
Why Tesla's valuation is hard to read as Musk's EV empire falters
Prickly billionaire Elon Musk is at a crossroads with Tesla (TSLA) — and investors are shouldering the outsized risk. "I think we are in the transition phase, so it's a very critical phase for Tesla at the moment," Gradient Investments' Lisa Schreiber said on Yahoo Finance's Opening Bid (watch above). On July 23, Tesla reported much weaker second quarter earnings compared to a year ago. During the earnings call, Musk cautioned about headwinds and shared that ride-hailing and autonomous features will be a key focus for the company going forward. Shares fell directly after the earnings announcement and closed down 8.2% on Thursday. Tesla remains an innovator, with robots and AI in its portfolio. Its EV business, however, is sharply declining as competition rises and backlash grows against Musk's politics. The expiration of a $7,500 federal credit for EVs won't help matters, either. "When we look at valuation, investors do not know exactly how to value [Tesla]. Is it an EV maker? Is it more than that? The thing is, it's not just an EV play anymore," Schrieber said. "But it's also not a robotaxi [and] robot company already. So we have struggles here." To Schrieber's point, Tesla's stock trades more like a hot tech player trying to take on juggernauts like Nvidia (NVDA). Shares trade at 161 times the estimated forward price to earnings. (Nvidia, with much stronger growth, trades around 55 times.) Ford (F), a pure-play automaker, trades at 9.6 times. Meanwhile, some perceive Tesla as a company that isn't sure what it wants to be when it grows up. The innovation around autonomous driving is noteworthy, but the waiting can make even the most patient investor antsy. "Especially with Tesla, we have to be a little bit careful," Schreiber said, noting that Musk has a history of huge promises but delayed launches. The robotaxi, for instance, launched this past June in Austin, Texas. William Blair analysts Jed Dorsheimer and Mark Shooter, who rate Tesla's stock at Market Perform, noted that rival company Google's (GOOG) Waymo robotaxi "represents a six-year head start." "We think the training wheels will get taken off quickly and the pace at which robotaxi scales will surprise the upside," the pair wrote. "Although maybe not to half of Americans by the end of the year." During Tesla's earnings call, Musk also discussed humanoid robots, AI, and their integration into the vehicle fleet, calling the company's cars "essentially a four-wheeled robot." "Optimus is a robot with arms and legs," he said. "So the same principles that apply to optimizing AI inference of the car applied to Optimus because they're both really robots in different forms." If Musk and Co. can deliver, investors like Schreiber will likely be among the first in line to celebrate, but for the time being, they are content to watch and wait. "I think we have to be a little bit careful here," she said. "For us to be able to be a buyer here, we would need to see some foot on the ground and we would need to see some realization first."Grace Williams is a writer for Yahoo Finance. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
