With millions of credit cardholders in the United States skipping the payment of their bills amid flu pandemic, banks are preparing for economic pain. Borrowers stopped paying bills, which put banks in a difficult situation. Many large card issuers...
The central bank of Indonesia, Bank Indonesia, announced a cut in the maximum interest rate on credit cards by 25 basis points or 2 percent, starting May 1, 2020. Bank Indonesia Governor Perry Warjiyo said the cut in credit...
The Canadian government is asking banks to lower interest rates on credit cards to ease the financial struggle of Canadians due to the flu pandemic. Prime Minister Justin Trudeau said in his speech to Canadians last Thursday that the...
The Department for Work and Pensions, UK’s largest government department, is set to hire 1,500 new staff in an effort to meet the unprecedented demand for Universal Credit, following a surge in applications amid the COVID-19 pandemic. According to the...
As more and more Americans are hit by the growing pandemic, a number of credit card issuers in the country have taken steps to provide cardholders with debt and credit relief efforts. These actions reportedly come as numerous Americans...
The Federal Reserve announced on Sunday, March 15, an emergency move to ease the economy, lowering the benchmark interest rate to near zero. The central bank will apply 0.25 percent interest for credit cards, checking, and savings accounts. From...
In a bid to provide travellers with greater flexibility amid coronavirus pandemic, Qantas, Australia’s largest airline by fleet size, announced Sunday it will be allowing customers to cancel their flights and receive travel credit refund. In a press release, the...
Following last week’s outage, stock trading mogul Robinhood experienced another outage last Monday, March 9, 2020. In light of these events, the company revealed that it had maxed out its $200 million facilities, most of which come from major...
In response to the virus outbreak happening in the world, several card issuers offer assistance programs to customers affected by the global economic slowdown. Visa and Mastercard made cuts to their revenue outlooks for the first quarter of 2020,...
Credit and loan company Credit Sesame is getting into digital banking with the launch of its new digital bank account called Sesame Cash. The new offering, which comes as a part of the company’s new digital banking service, will...

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