Weekly FS Regulatory News - 25 August 2017

Dhallu & Co.

Credit Cards Battling Hate Groups
Payments and credit card companies including American Express, Discover Financial Services and PayPal are booting dozens of individuals and groups associated with right-wing extremist movements off their systems following violence at a white racist rally in the U.S.A.

The actions, many of which were taken after finding websites violated the financial firms’ acceptable use policies, make it more difficult for the groups to sell merchandise or raise donations from supporters.

Ford Credit Enhances Credit Underwriting
Ford Credit, a major auto lender, says it is looking at ways to increase loan and lease approvals for applicants with limited credit histories. These customers are often denied credit because they lack a history of managing debt and as a result have low credit scores.

As auto sales are slowing after reaching historic peaks, some lenders are looking to drive loan volumes. One area of focus is borrowers who have low credit scores because they haven’t used debt from banks and other mainstream lenders.