The industry is taking advantage of banks’ newfound interest in offloading some of the consumer debt on their books.
Porticoes Capital has an FDIC-approved gateway to acquire lenders that are shutting down.
Banks are finding novel ways to game the Fed’s safeguard systems, according to a Wall Street Journal analysis.
Of the roughly 4,400 operating banks in the US, nearly half of all banking profits in the third quarter came from just four.
The heated pace of rate hikes may soon be nearing an end, but possibly not before the Fed pushes the U.S. economy to the brink.