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Gen Z’s beloved Buy Now, Pay Later will soon impact credit scores, which could pose risks for vulnerable borrowers

Scoring company FICO said Monday that it is rolling out a new model that factors the short-term loans into their consumer scores. A majority of lenders use FICO scores to determine a borrower’s credit worthiness. Previously, the loans had been excluded, though Buy Now, Pay Later company Affirm began voluntarily reporting pay-in-four loans to Experian, … Read more

Companies Warn SEC That Mass Deportations Pose Serious Business Risk

Other filings suggested a recession could come even earlier. The community bank Hanmi Bank, under its holding company Hanmi Financial Corp., said in an SEC filing that “the combination of tariffs, rising inflation, deportations, global political unrest and tensions, and reduced credit availability” could cause “a mild recession in 2025.” Some companies said that deportations … Read more

AI deepfakes pose ‘significant’ risk to ‘identity systems upon which our entire economy relies,’ warns fintech CEO

With one new AI capability after another entering the mainstream, it’s tempting to give each one the same cursory consideration. But some merit more attention than others. Consider AI deepfakes. Scammers can now use generative-AI tools to create voices, or even live video fakes, that sound or look like specific people—and request money transfers. As … Read more

U.S. tariffs pose a ‘real challenge’ to Europe, Barclays CEO says

Barclays CEO C. S. Venkatakrishnan speak during the Barclays Sustainable Finance conference in New York City, U.S., March 19, 2024.  Brendan McDermid | Reuters Washington’s protectionist trade policies are posing a “real challenge” to European nations as they seek to raise their security contributions, according to Barclays CEO C. S. Venkatakrishnan. “I think Europe has … Read more

Slipped discs from yoga pose caused life-changing spinal condition

Doctors told a U.K. woman she’s at risk of developing a rare spinal condition due to a yoga pose she did years ago, according to news agency SWNS. Terrilyn Griffiths, 44, from Lowestoft, Suffolk, exhibited early signs of cauda equina syndrome (CES, a dangerous form of spinal nerve damage) in January 2024 when an MRI … Read more

Hedge funds are the new ‘shadow banks’—and some are worried they pose a systemic threat to financial stability

Economist Paul McCulley coined the term “shadow banking” in 2007, just over a year before Lehman Brothers collapsed. Soon, it became clear easy credit had helped fuel the subprime mortgage meltdown that brought the global financial system to its knees. Nearly two decades later, a bond market sell-off triggered by President Donald Trump’s chaotic tariff … Read more

Powell indicates tariffs could pose a two-pronged policy challenge for the Fed

Federal Reserve Chair Jerome Powell expressed concern in a speech Wednesday that the central bank could find itself in a dilemma between controlling inflation and supporting economic growth. With uncertainty elevated over what impact President Donald Trump’s tariffs will have, the central bank leader said that while he expects higher inflation and lower growth, it’s … Read more

ESMA warns crypto could pose risks to financial stability

The European Securities and Markets Authority is sounding a fresh caution at the potential risks crypto could pose to financial markets. ESMA, the European Union’s securities watchdog, has once again touched on the issue of crypto regulation, warning that crypto-related risks could impact financial stability.  According to ESMA executive director Natasha Cazenave, this possibility has increased … Read more

UK’s AI plans pose ‘existential threat’ to film studios, warns Bridget Jones producer

Stay informed with free updates Simply sign up to the Media myFT Digest — delivered directly to your inbox. The boss of British film studio Working Title has warned that UK government plans to weaken copyright laws to appease AI developers are an “existential threat” to the country’s creative industries. “We’ve been making films there … Read more

Meryl Streep and Jason Momoa Strike a Pose at ‘SNL 50’ Afterparty

Meryl Streep and Jason Momoa at an ‘SNL50’ afterparty on Sunday, February 16. Jason Momoa/Instagram Meryl Streep and Jason Momoa partied it up after Saturday Night Live‘s 50th anniversary special. Momoa, 45, took to Instagram on Monday, February 17 and shared two photos of himself with Streep, 75, at an SNL50 soiree the night before. … Read more

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