consumer loans

Back in the old days (a.k.a. a few years ago), banks would determine if you were worthy of a loan by looking at your credit score and your income. Now, with defaults at near-record levels, lenders are much more cautious about who they give money to, so much so they're willing to violate your...

General Electric unit GE Capital announced Tuesday that it had acquired the retail finance portfolios from Citigroup's Retail Partner Cards. Financial terms of the deal were not disclosed, but GE Capital expects it will immediately add to earnings.

Approval rates for bank loans will likely fall as the number of applications increase over the next six months, according to a recent survey of banking professionals released today by Fair Isaac and Northwestern University's Kellogg School of Management.

Rising unemployment pushed late payments on consumer loans in the first three months of this year to the highest level since at least 1974, a study by the American Bankers Association shows. And that doesn't even include credit card delinquencies, which also reached a record by one measure. It's...