Which?, a U.K.-based consumer group, and a cross-party group of 84 MPs are taking on bank overdraft fees, demanding the Financial Conduct Authority (FCA) require banks to charge the same rages for unarranged overdrafts that they do for arranged overdrafts. According to Which?, the rates...
There is much to like in the current economic snapshot of the U.S. The overall unemployment rate has slipped below 4 percent — the lowest it’s been in nearly 20 years. After a brief dip in consumer spending early in the year, consumer enthusiasm for...
With competition increasing from the likes of hedge funds and private equity firms that are making business loans, banks are being forced to rethink how they approach that part of the business, reported the Wall Street Journal. Get the Full Story Complete the form to...
Ant Financial, the Chinese payment affiliate of Alibaba, has more than 600 million users, the first time the company has said how large its business is. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
It’s been a full year for SoFi, as the personal finance company attempts to get back on track after a 2017 that was, at best, tumultuous. In his first letter to investors, SoFi’s new CEO, Anthony Noto, did not directly reference the founding CEO, Mike Cagney,...
SoFi’s new chief executive officer Anthony Noto penned his first quarterly missive to shareholders highlighting the company’s mission and its company values but declining to address sexual harassment allegations against co-founder Mike Cagney, who was ousted as a result. Get the Full Story Complete the...
Fair Square Financial entered the financial services world a few years ago with two observations about why the world needed another non-bank lender. The first being that the ways credit is underwritten could use a good deal more specificity. Get the Full Story Complete the form to...
Exactly two weeks ago today (April 25), LendingClub‘s stock hit an all-time low with the announcement of an FTC-backed lawsuit alleging that it loading up its borrowers with hidden fees on loans proffered through its marketplace – and, in some cases, that it attempted to...
After a strong debut on the public markets at $14 per share in its Initial Public Offering (IPO), LendingClub has taken investors on something of a wild ride though the ups and downs of marketplace lending. Today, as the market waits for its Q1 earnings report,...
