Credit Acceptance Corp. (CACC) is set to release its Q3 2024 earnings report on Wednesday, October 30th. Analysts expect strong earnings, but the focus will likely be on the company’s guidance for the next quarter, as well as its recent performance compared to competitors. This article provides an in-depth look at what investors can expect.
JD.com, struggling with its core e-commerce business, is looking to expand its financial services by acquiring Home Credit Consumer Finance, a struggling Chinese consumer finance company. While the acquisition could provide JD.com with a consumer lending arm and enhance its e-commerce ecosystem, it also presents significant risks, including managing loan defaults in a challenging economic environment. This article analyzes the potential benefits and risks of the deal and its implications for JD.com’s future.
Grocery giant Walmart has launched a second Buy Now, Pay Later (BNPL) program in partnership with tech firm One. This new payment option will be available at over 4,600 Walmart locations nationwide for eligible purchases between $100 and $3,000. Like other BNPL programs, One allows customers to take home items by paying only a minimum balance or percentage of the overall purchase amount. However, experts caution that these programs can carry significant financial risks for shoppers. The APR for One’s BNPL feature ranges from 9.99% to 35.99%, and missed payments can lead to debt collection and other penalties.
Goldman Sachs is continuing its exit from consumer finance by transferring its robo-investing accounts to Betterment. Last year, Goldman scaled back its consumer finance operations after significant losses. The Marcus Invest accounts and assets under management will be acquired by Betterment, but no additional accounts, technology, employees, or operations will be part of the transaction. Goldman Sachs will focus on growing its Marcus Deposits platform, which has over 3 million customers and $100 billion in consumer deposits.
