Experian Expands “No Ding Decline” Feature to Personal Loans
Plus: FICO’s 1,500% fee hike, Cash App’s new P2P installment plans, and why the CFPB is narrowing its antidiscrimination focus.
Hey Toaster Readers,
This week is sponsored by our friends at Fintel Connect.
Experian is making it safer to shop for credit by expanding its “No Ding Decline” feature to personal loans. Also, mortgage costs are feeling the heat as FICO implements a huge 1,500% hike on tri-merge fees. We’re also breaking down Cash App’s move into P2P installment plans, the CFPB’s shift in antidiscrimination enforcement , and American Express replacing Visa as the official payments partner of the NFL.
Lots to break down. Let’s get toasting!
Carlos Caro, Founder at NMG, Co-Founder of The Free Toaster
Nick Madrid, Co-Founder of The Free Toaster and Uncovered Media
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Experian Expands “No Ding Decline” Feature to Personal Loans
Experian has officially extended its No Ding Decline (NDD) feature to personal loans, allowing users to explore financing options in the Experian Marketplace without the risk of a hard credit inquiry upon rejection. This expansion follows a significant 16% increase in personal loan usage recorded by the company in 2025, a trend mirrored by the fact that 38% of U.S. consumers now hold at least one personal loan.
By using artificial intelligence, the tool pre-aligns applicant profiles with specific lender criteria before a formal application is ever submitted. This expansion builds on the success of the NDD program for credit cards, which has already seen significant adoption.
Speaking exclusively to the Free Toaster team, Experian confirmed the program’s explosive growth.
“With NDD, more than 40% of all cards and loans acquired through our Marketplace are now coming through the NDD program,” said Rakesh Patel, Executive Vice President of Experian Marketplace.
In addition to the loan update, Experian is further diversifying its reach by integrating its Insurance Marketplace into ChatGPT. According to Patel, these strategic moves reflect a broader commitment to “meeting consumers where they are” and reducing the friction of financial discovery. (Experian)
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FICO Hikes Tri-Merge Fees 1,500% as CHLA Reports $540 Average Credit Cost Per Loan
FICO increased its base tri-merge credit report fee from $1.80 in 2022 to $30 for 2026. This 1,500% price hike contributed to total mortgage credit costs rising to an average of $540 per loan. The Community Home Lenders of America (CHLA) reported these findings in a Tuesday update to its 2024 White Paper. Lenders currently lack alternatives because they must use approved scoring models to sell loans to Fannie Mae and Freddie Mac. The CHLA is requesting that regulators accelerate the approval of competing models such as VantageScore to reduce costs. Current rules often require lenders to pull multiple reports per borrower, which compounds price increases for first-time homebuyers. Rob Zimmer, CHLA’s Director of External Affairs, stated the organization wants to fix a monopoly that will "continue to extract more and more resources from homebuyers." (HousingWire)
Cash App Launches Pay-Over-Time Feature for Peer-to-Peer Transfers
Cash App now allows its 59 million monthly users to convert peer-to-peer transfers of $25 or more into installment plans. This feature enables users to recoup the cost of a past transfer into their balance in exchange for a flat upfront fee. Users repay the balance through weekly installments rather than revolving interest. The product applies to transactions made within the previous 30 days. This expansion follows the previous launch of pay-over-time features for debit card purchases. Eligibility for the installment feature depends on individual customer assessments and state-level regulations. (Cash App)
CFPB Finalizes Rule to Narrow Lending Antidiscrimination Requirements
The Consumer Financial Protection Bureau (CFPB) is finalizing a regulation to narrow antidiscrimination requirements for lenders by eliminating the disparate impact standard. The CFPB will now focus solely on explicitly discriminatory conduct rather than policies that result in unintentional discriminatory impacts on women and minorities. This move implements a year-old executive order from the Trump administration aimed at reducing compliance burdens and legal liabilities for banks. The Office of Management and Budget (OMB) is currently reviewing a final version of the rule that contains no material change from the proposal issued in November. Industry groups support the change for reducing regulatory burdens while consumer advocates claim the rule contradicts the 1974 Equal Credit Opportunity Act. The timing for the formal adoption of the rule remains unconfirmed. (Reuters)
Affiliate Marketing For Deposit Accounts - With Alana Levine, CRO at Fintel Connect
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American Express Replaces Visa as Official NFL Payments Partner
American Express signed a multi-year deal to become the official payments partner of the NFL starting with the 2026 season. The financial services firm replaces Visa, which ended its thirty-year sponsorship this month. American Express cardholders gain early access to tickets for the 2026 game in Melbourne and benefits at the Super Bowl and NFL Draft. The company’s sports marketing portfolio now includes more than 50 global leagues and teams. American Express will also launch an NFL Extra Points credit card later this year issued by Comenity Capital Bank. This partnership follows existing team-specific deals with the Atlanta Falcons, New York Giants, New York Jets, and Miami Dolphins. Elizabeth Rutledge, Chief Marketing Officer, stated the partnership is a "natural extension" of the company's existing sports portfolio. (Reuters)
American Airlines and Citi Expand Partnership to Admirals Club Lounges
American Airlines and Citi are expanding their 40-year co-branded credit card partnership to include direct branding and integration across the Admirals Club lounge network. American Airlines operates a global air carrier service with 6,000 daily flights and utilizes the Citi-issued AAdvantage portfolio as its exclusive U.S. card program. Starting in April 2026, Citi branding will appear at lounge entrances in ORD, DFW, LAX, and MIA, with a full network rollout scheduled through 2026. The move links Citi card membership tiers directly to lounge access, specifically for Executive World Elite Mastercard, Globe Mastercard, and Strata Elite holders. American Airlines recently updated its lounge amenities through substantial vendor contracts with Lavazza and Champagne Bollinger. Access remains available via annual membership, oneWorld status, or $79 one-day passes. This expansion focuses on the integration of the card rewards program into physical airport infrastructure. (American Airlines)
Perplexity Appeals Court Ban on AI Shopping Agent Accessing Amazon
Perplexity asked a federal appeals court to overturn an injunction barring its Comet AI agent from accessing Amazon. The AI-powered search engine functions as a shopping assistant that automates product discovery and purchases for users. Amazon recently won a court order claiming the tool accessed password-protected accounts without authorization and ignored cease-and-desist warnings. Perplexity argues that Comet acts as a browser for the user and claims the retailer produced no evidence of actual harm like lost sales or decreased traffic. Amazon generated $68.6 billion in advertising revenue in 2025 and claims automated agents bypass the sponsored listings that drive this income. While Amazon has blocked competitors like OpenAI, its own assistant, Rufus, generated $12 billion in incremental sales last year. Walmart and Target are currently testing integrations with third-party AI tools rather than implementing bans. Recent data from PYMNTS Intelligence shows 70% of consumers are open to using AI agents for retail transactions. (PYMNTS) (Court Listener)
Royal Caribbean Group and Bank of America Launch First Tri-Branded Cruise Credit Cards
Royal Caribbean Group and Bank of America launched the Royal ONE and Royal ONE Plus credit cards to enable reward sharing across Royal Caribbean International, Celebrity Cruises, and Silversea. The company operates 69 ships and 3 private destinations, with plans to expand to 8 private locations by 2028 and enter river cruising in 2027. The Royal ONE card has no annual fee and offers 3X points on cruise purchases and 2X points on gas and groceries. The Royal ONE Plus card carries a $99 annual fee and increases cruise rewards to 4X points while adding 2X points on airfare and hotels. Cardholders receive travel perks including priority boarding and a $120 TSA PreCheck credit for the Plus tier. The program introduces a redemption system for onboard credits, shore excursions, and Wi-Fi packages. This tri-branded partnership replaces previous brand-specific loyalty silos with a unified rewards ecosystem. The launch follows the recent implementation of a status match program across the three cruise lines. (Bank of America)
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Other News We’re Reading and Listening to
(CFPB Supervision) CFPB Supervision Reset: What Banks and Non-Banks Need to Know (Apple Podcast)
(AI) Visa and Mastercard Deploy Agentic AI for Disputes and Global Payments (American Banker)
(Banking) Small Businesses Can Soon Enjoy New Rewards With the Prime Business and Amazon Business Credit Cards (U.S. Bank)
(Cards) Small Businesses Can Soon Enjoy New Rewards With the Prime Business and Amazon Business Credit Cards (Mastercard)
(Lending) QuickFi Enables Air-Tow Trailers National Digital Captive Finance Program (PR Newswire)
(Fintech) UiPath Launches Agentic Solutions to Strengthen Financial Crime Compliance and Accelerate Lending (UiPath)
(Mortgage) U.S. Bank Enhances Consumer Mortgage Experience for New Homebuilding in Partnership With Built (U.S. Bank)
(Credit) TransUnion Introduces TruIQ Credit Strategy Studio to Transform How Lenders Build and Launch Prescreen Marketing Campaigns (TransUnion)
(Payments) Visa Unveils New Services to Modernize Dispute Resolution Process (Visa)
(Banking) Fintech Monzo Shutting Down US Operations to Focus on UK, Europe (Bloomberg)
(Lending) Octane Partners With Suzuki to Expand Financing to Prime Customers (PR Newswire)
(Retail) SurgePays Launches Stored Value and Loyalty Platform Across Retail Network (Issuer Direct)
(AI) Nearly 80% of Americans Use AI Tools but Most Still Want Humans Making Financial Decisions, TD Survey Finds (TD Bank)
(Social Media) TikTok and Meta Eye a Bigger Role in Financial Services (PYMNTS)
(Banking) America’s #1 Choice for Banking Expands Its Lead With the Launch of Chime Prime (Chime)
(Credit Unions) 72% of Gen Z Feels Financial Strain and Credit Unions See an Opening (PYMNTS)
(Credit) Average Delinquency Rates at Top Credit Card Issuers Were Stable in February (S&P Global)
(Credit) New Study Reveals Deepening Financial Divide Between Americans With High and Low Credit Scores (Business Wire)
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The Free Toaster Team
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