India’s banking industry could be in trouble after the Narendra Modi government announced that $37 billion in loans have been written off by the country’s public sector banks during the past four years. Quartz, citing a written statement from the minister of state for finance...
Online lending startup Upstart is hoping to raise about $100 million in funding. According to Bloomberg, one source said that the California-based startup is looking to sell shares that would value the business at $500 million to $1 billion. While a spokeswoman for Upstart said...
In a move that could make more than 5 million consumers very happy (and potential lenders very nervous), TransUnion, Equifax and Experian have announced they will be removing tax liens from Americans’ credit reports. The three credit reporting firms said Thursday (March 22) that they...
TD Bank Auto Finance (TDAF) announced that it will start providing commercial loans to automotive dealerships around the country. TDAF is expanding its Commercial Financial Services program, which provides floor plan financing and commercial lines of credit to automotive dealerships. “We are incredibly excited to...
Grab, the ride-hailing company based in Southeast Asia, announced news on Tuesday (March 13) that it has teamed up with Credit Saison Co., one of Japan’s largest consumer financing companies, to provide loans and lending services to the unbanked. In a press release, the companies...
Ant Financial, the payment affiliate of China’s Alibaba, has seen its consumer lending business reach 600 billion yuan ($95 billion) even as the company faces a stricter environment for securitizing loans in its home country of China. According to news from Bloomberg, citing people familiar with...
To help merchants and other service providers convert more consumers at the point of sale, LendingPoint has unveiled LendingPoint Merchant Solutions, a platform that will provide fully integrated one-stop retail financing, the company said in an announcement. LendingPoint Merchant Solutions combines LoanHero’s merchant onboarding, program management...
Americans like owning and driving cars — 88 percent of those who are legally able to drive are owners of cars, according to Pew, giving the U.S. the world’s second-highest automobile ownership rate (Italy leads the pack and edges us out with 89 percent ownership)....
Despite a return of volatility to the stock market, the premium that investors want on loans that are packaged and offered as bonds has hit its lowest level since the financial crisis of 2008 and 2009. According to a report in Financial Times, the collateralized...
