By many measures, the economy looks strong. The stock market — despite a fairly steepWh correction a week ago — is still well ahead of where it was a year ago and is trending up. Unemployment is at historic lows, wages are rising given the tight labor market and consumer spending...
Social Finance — the online lender better known as SoFi — will be laying off dozens of workers in its mortgage division, despite the fact that the home loans department was one that the firm was holding up as a potential generator for future growth....
When Bank of America announced last week that it was terminating its free checking option for low-balance customers, a literal Tweet storm broke out. The new program, first launched in 2010, was a digital-only offer for customers with low-balance checking accounts. The rules were simple: Consumers had to (a)...
Small businesses face a mountain of financial challenges in the U.K., from late payments from their large corporate clients to a lack of access to easy, affordable financing. In an attempt to address many of these concerns, regulators have stepped in with initiatives, such as...
Very few consumers review the mortgage application process as a high water mark in their lives. Finding that perfect home can be fun and exciting – but for the majority of consumers who need to apply for a mortgage loan in order to actually live...
Victory Park Capital — a Chicago-based investment firm — is a key player in the alternative financial services movement, providing debt capital for a string of familiar names in online lending. Avant, Elevate and LendUp, for example, are among the digital lenders that have worked...
Scott Tucker’s pre-sentencing “apology” will not likely be remembered as one of history’s greatest all-time allocutions of contrition. The Kansas businessman – facing a 2017 conviction for violating federal truth in lending and racketeering laws in connection with his online lending business – attempted to...
Financial services for the cannabis industry have been a complicated issue for the 20 years that there has been a legal – or at least quasi-legal – cannabis industry in the United States. In the two decades since California passed Proposition 215 and legalized marijuana for medical...
A change in how potential mortgage borrowers are assessed may be on the horizon. Soon, FICO may not be the only game in town. The Federal Housing Finance Agency (FHFA) — the federal body that stands behind the guarantors of most American mortgages, Fannie Mae...