Latest news with #financialhealth
Finextra
a day ago
- Business
- Finextra
Equifax Australia and Mastercard use open banking to boost credit access
Equifax and Mastercard are using open banking data to boost credit access for millions of Australians with limited or no credit history. 0 Equifax Open Score taps Mastercard's global Open Finance network to access consumer-consented bank transaction data obtained through Australia's Consumer Data Right. This data, which includes income, expenses and spending patterns, is analysed in real-time to assess the person's financial health, giving them a score between zero and 10. According to Equifax, there are 2.5 million Australian consumers with limited or no credit history who may still need access to financial services. This includes young people, new migrants and those re-entering the credit market - groups often overlooked by traditional assessment models. Melanie Cochrane, CEO, Equifax A/NZ, says: 'By tapping into alternative data like income, expenses or rental payments, Open Score can uncover insights into consumers that aren't available with traditional credit reporting information. These insights will assist all Australians, but will be especially powerful for consumers who have traditionally been credit invisible."
CBS News
2 days ago
- Business
- CBS News
Is there a grace period on credit card payments?
Between juggling higher grocery bills, increased rent and utilities costs and elevated gas prices, most people are working hard right now to carefully manage every dollar in their budgets. But with inflation continuing to squeeze budgets and many Americans living paycheck to paycheck, that can be a tough task to take on, especially if you're trying to pay off debt simultaneously. When every dollar counts, even the most financially savvy people can find themselves scrambling to meet payment deadlines, and missing a credit card payment becomes an increasingly common concern. Late and missing credit card payments can have a hefty impact on your financial health, adding another layer of stress to an already challenging situation. After all, credit card companies operate on a strict timeline, so if you miss your due date by even one day, you're immediately hit with late fees and penalty rates, right? The credit card industry certainly profits handsomely from these charges, after all, so logic would suggest that the penalty clock starts ticking as quickly as possible. The reality of how card payment due dates work might be more nuanced than you'd expect, though. So, do the credit card late charges start to rack up the moment midnight passes on your due date, or is there some built-in leeway that could save you from immediate penalties? That's what we'll analyze below. Explore the options you have if you're struggling with your credit card debt. The short answer to whether credit card issuers offer grace periods is both yes and no — it depends on what you're asking about. Credit cards do offer a grace period, but it's often misunderstood, and if you're late on a payment, the protection you're hoping for might not apply. Most credit cards come with a grace period on new purchases, which is the time between the end of your billing cycle and your payment due date. During this window, which is typically 21 to 25 days, you can pay off your balance in full without owing any interest. What that means is that as long as you pay the entire balance each month, you can keep using your card without racking up any finance charges. But here's the catch: If you carry a balance from one month to the next, the grace period disappears, and interest starts accruing immediately on new purchases. Now, if you're asking whether there's a grace period for late payments, the story changes. Credit card companies aren't required to give you extra time beyond the due date, and most don't. Once your due date passes, you risk: However, many credit card issuers provide a small informal window (often just a few days) before they apply a late fee or take further action. This isn't a guaranteed grace period, but if you pay as soon as you realize you've missed your due date, you might avoid the worst consequences. Explore the credit card debt relief options available to you now. If you find yourself unable to make your credit card payment by the due date, don't just ignore the problem. Taking proactive steps can help minimize the financial impact. Here's what to do if you're at risk of making a late credit card payment: While many credit card companies do offer informal grace periods for late payments, you shouldn't rely on this flexibility as part of your regular payment strategy. These grace periods are typically brief, unofficial and subject to change based on your payment history and the issuer's policies. The best approach is to treat your credit card due date as firm and build systems to ensure you never miss it. If you do find yourself late on a payment or are struggling to afford your payments, be sure to act quickly to minimize the damage.
Forbes
2 days ago
- Business
- Forbes
Introducing Reliability Rating: A Powerful New Way To Gauge Bank Health
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Our new grading system offers a clear, data-backed signal of a financial institution's strength. Our rating may have flagged vulnerabilities at Silicon Valley Bank and First Republic Bank before their failures. We found the 25 safest and 25 least safe banks and credit unions across the U.S. A total of 572 U.S. banks have failed since 2000, according to the Federal Deposit Insurance Corp. (FDIC), with three large regional banks closing in 2023, two banks in 2024 and two more this year. Given those headlines—and talk of recession, tariffs and stubborn inflation—it's only natural to wonder about the resilience and longevity of your own bank. That's why we developed Reliability Rating. Our proprietary model turns dense financial data into a simple letter grade, so you can see at a glance whether the overall financial health of your institution looks rock solid—or risky—before trouble starts. Moving forward, Forbes Advisor will assign letter grades to banks and credit unions, making it easier to spot the health of your institution at a glance. Reliability Rating is a data-driven scoring model that evaluates banks and credit unions on six key dimensions of financial health. Each category feeds into an overall score, with capitalization and liquidity weighted most heavily to reflect their importance in financial resilience. The rating is refreshed quarterly, using the latest FDIC and National Credit Union Administration (NCUA) call report data. Here's the methodology behind the score. To ensure we provide the most insight possible into your bank or credit union, our methodology is built to evolve and adapt to current economic conditions. We made it consistent enough for quarter-over-quarter comparisons, yet flexible enough to adapt to future economic changes and regulatory developments. Reliability Rating is on its way to becoming a core measurement in all of our 'best' lists—everything from top checking accounts to the highest-earning CDs—so you'll know the institutions we recommend not only offer great rates, but are built to last. Before launching the rating, we ran a retrospective stress test on two of 2023's most notable bank failures. The results are clear: Our rating would have flagged key vulnerabilities well before the collapse of these banks. Silicon Valley Bank would have landed in the bottom 10% of our ranking, receiving an F overall. Out of six categories, it received an F in two—growth and stability and account safety and insurance. It also did poorly in the liquidity category, receiving a C. These weak scores reflect its unusually high share of uninsured deposits and its rapid balance-sheet growth relative to industry norms. would have landed in the bottom 10% of our ranking, receiving an F overall. Out of six categories, it received an F in two—growth and stability and account safety and insurance. It also did poorly in the liquidity category, receiving a C. These weak scores reflect its unusually high share of uninsured deposits and its rapid balance-sheet growth relative to industry norms. First Republic Bank would have ranked in the bottom 10% of our Reliability Rating, penalized for its insured deposit ratio, liquidity and growth and stability. It received an F overall, an F in growth and stability and a D in account safety and insurance. In addition to the two banks above, we looked at Chicago's Pulaski Savings Bank, which failed and closed its doors on January 17, 2025. It received an F overall in our ranking, penalized heavily for its poor asset quality (F), earnings (F) and liquidity (D). Using our proprietary Reliability Rating, we've ranked the top 25 most reliable banks and credit unions in the U.S. today. We combed through roughly 3,900 FDIC-insured institutions, and only 125 banks cleared our 'A' bar this quarter. None reached the ultra-rare A+ level, but 11 scored a straight A while the remaining received a still-elite A-. Charles Schwab, Northern Trust Co. and Morgan Stanley Bank sit at the very top, each boasting A+ cushions in both capitalization and asset quality with strong scores in liquidity as well. In fact, every bank in the table scores at least A or A- for both capitalization and asset quality, two of the pillars closely tied to durability in a crisis, and most also earn A- or better for liquidity. Put simply, these 25 names boast solid capital, healthy loan books and deep cash buffers—the financial traits you want on your side if a recession hits. Whether a small community bank or larger institution, F-rated banks on our list share similar characteristics: weak earnings, a large share of uninsured deposits and aggressive growth without capitalization to match. None of the banks that earned an F on our list have collapsed, but they appear far less resilient than the A- and B-rated names at the top of our list. An F grade doesn't mean a bank will fail, but it does signal higher risk. It means you should think carefully before trusting that institution with your hard-earned money. Some of these banks may offer APYs, which could mean higher rewards but also higher risk. Fortunately, your money doesn't disappear when a bank or credit union goes under: Deposits are federally insured up to $250,000 per depositor, per institution by FDIC for banks and the NCUA for credit unions. Bank failures are still relatively rare. Still, it's tough to stomach the potential of locked-up funds, missed paychecks or frazzled nerves while the system sorts things out. Metropolitan Bank & Trust Co, Turtle Mountain State Bank and Vast Bank National Assn. sit at the bottom of our pack this round. Each carries an overall F, flunking at least two of our sub-categories. Though their loan books look clean, all three share dangerously low capital buffers and minimal growth. And Metropolitan Bank & Trust Co and Turtle Mountain State Bank both have heavy concentrations of uninsured deposits, leaving retail customers exposed. Here are the top 25 least safe institutions to keep your money: Reliability Rating is based on six critical metrics and emphasizes financial resilience and consumer protection. Retrospective testing shows the score would have highlighted significant red flags at failed banks like Silicon Valley Bank, Signature Bank and First Republic Bank, guiding consumers toward more stable options. The rating will be refreshed quarterly with the latest FDIC and NCUA data. The methodology is flexible, adapting over time to reflect evolving market conditions. If your bank fails, it can strand your uninsured funds, hurt your cash flow and potentially force you into inconvenient workarounds. The FDIC and NCUA guarantee only up to their insurance caps—anything beyond that limit is at risk if your institution proves unreliable. Here are a few things that can happen if your institution fails or is in serious distress. Loss of access to uninsured deposits. The FDIC and NCUA insure deposits up to $250,000 per depositor, per ownership category, per FDIC- or NCUA-insured bank. Funds you have deposited above that limit are at risk and could take several years to recover. Delayed access to funds. When a bank fails, the FDIC or NCUA (depending on where you bank) pays depositors up to the insurance limit, generally within a few days after the bank officially closes its doors. But depending on your case, it may take some additional time to process. Service interruptions and delayed payments. The FDIC typically tries to find an open bank to assume the responsibilities of the failed bank. If it happens quickly, you may not see any drop in service. If not, automated payments (e.g., direct deposit, bill pay) might be delayed or rerouted, leaving you to scramble to pay creditors. Required refinancing of loans. If you have a mortgage or a business loan at a failed bank, you'll be notified by the FDIC or NCUA that your service has been transferred and encouraged to seek a new lender to refinance your loan. The silver lining is that occasionally, the FDIC will offer an incentive to refinance by offsetting the closing cost on the refinance. Total loss if your bank isn't insured. Money held in nonbank payment apps—think Venmo, Paypal and Cash App—are typically not insured by the FDIC or NCUA. If these go under, you may have no way to get your money back. Savings:
Yahoo
2 days ago
- Business
- Yahoo
Compared to Estimates, Controladora Vuela (VLRS) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2025, Controladora Vuela (VLRS) reported revenue of $693 million, down 4.6% over the same period last year. EPS came in at -$0.54, compared to $0.09 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $666.74 million, representing a surprise of +3.94%. The company delivered an EPS surprise of +28%, with the consensus EPS estimate being -$0.75. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Controladora Vuela performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Available Seat Miles (ASMs) - Total: $8.89 billion versus the two-analyst average estimate of $8.93 billion. Load factor - Total: 82.4% compared to the 85.2% average estimate based on two analysts. Operating expenses per ASM (CASM) (cents): 8.05 Cents versus 8.01 Cents estimated by two analysts on average. Fuel gallons accrued: 84.90 Mgal compared to the 83.14 Mgal average estimate based on two analysts. CASM ex fuel (cents): 5.69 Cents versus the two-analyst average estimate of 5.71 Cents. Revenue Passenger Miles (RPMs) - Total: $7.32 billion versus $7.61 billion estimated by two analysts on average. Operating revenues- Passenger revenues- Fare: $285 million versus the two-analyst average estimate of $297.69 million. The reported number represents a year-over-year change of -18.3%. View all Key Company Metrics for Controladora Vuela here>>> Shares of Controladora Vuela have returned +7.4% over the past month versus the Zacks S&P 500 composite's +5.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (VLRS) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Here's What Key Metrics Tell Us About Alexandria Real Estate Equities (ARE) Q2 Earnings
For the quarter ended June 2025, Alexandria Real Estate Equities (ARE) reported revenue of $762.04 million, down 0.6% over the same period last year. EPS came in at $2.33, compared to $0.25 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $750.65 million, representing a surprise of +1.52%. The company delivered an EPS surprise of +1.75%, with the consensus EPS estimate being $2.29. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Alexandria Real Estate Equities performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: North America Occupancy - excluding properties held for sale: 90.8% versus the two-analyst average estimate of 91.3%. Revenues- Other income: $24.76 million versus $12.93 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +114% change. Revenues- Rental: $737.28 million compared to the $743.9 million average estimate based on two analysts. The reported number represents a change of -2.4% year over year. Net Earnings Per Share (Diluted): $-0.64 compared to the $0.52 average estimate based on three analysts. View all Key Company Metrics for Alexandria Real Estate Equities here>>> Shares of Alexandria Real Estate Equities have returned +9.5% over the past month versus the Zacks S&P 500 composite's +5.4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alexandria Real Estate Equities, Inc. (ARE) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research 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
