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Loans
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1.0KTwenty Percent Of Mortgage Loans Top 45 Percent Of Monthly Income
New data shows that rising home prices are translating into mortgage loan debt not seen since the housing crisis. According to The...
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990Corporate America Picks Up Pace On Lending
U.S. banks are seeing a surge in the number of loans being taken out by corporate America, with new data showing the...
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1.8KBoA Launches Digital Mortgage Experience To Offer Mortgage Guidance
Bank of America has announced the launch of its Digital Mortgage Experience, which aims to guide clients through the mortgage process via...
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1.6KTrusting Machines To Trust The Right Credit Applicants
Back in the olden days – circa 1950 and before – a customer who wanted a loan would walk into a bank...
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2.2KCan AI Kill The FICO Score?
Just as SAT scores don’t convey everything about a student, FICO scores don’t convey everything about a loan applicant. They can be...
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1.7KIndia Wrote Off $37B In Bad Notes In Past Four Years
India’s banking industry could be in trouble after the Narendra Modi government announced that $37 billion in loans have been written off...
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2.0KOnline Lending Firm Upstart Targets $100 Million In Funding
Online lending startup Upstart is hoping to raise about $100 million in funding. According to Bloomberg, one source said that the California-based...
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4.1KCredit Reporting Firms To Omit Tax Liens From Consumer Reports
In a move that could make more than 5 million consumers very happy (and potential lenders very nervous), TransUnion, Equifax and Experian...
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1.6KTD Bank Expands Auto Financing Nationwide
TD Bank Auto Finance (TDAF) announced that it will start providing commercial loans to automotive dealerships around the country. TDAF is expanding...
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2.6KGrab And Credit Saison Launch Consumer Financing JV
Grab, the ride-hailing company based in Southeast Asia, announced news on Tuesday (March 13) that it has teamed up with Credit Saison...
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2.8K
Ant Financial Has $95B In Consumer Loans Even With Government Crackdown
Ant Financial, the payment affiliate of China’s Alibaba, has seen its consumer lending business reach 600 billion yuan ($95 billion) even as...
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3.3KLendingPoint Unveils Retail Financing Platform
To help merchants and other service providers convert more consumers at the point of sale, LendingPoint has unveiled LendingPoint Merchant Solutions, a platform...
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5.5KBlinker CEO: Every Picture Tells An Auto Sales Story
Americans like owning and driving cars — 88 percent of those who are legally able to drive are owners of cars, according...
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1.5KPremiums Paid On Packaged Loans Touch Financial Crisis Lows
Despite a return of volatility to the stock market, the premium that investors want on loans that are packaged and offered as...
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2.0KBusiness Lending Standards Loosen In Q4 2017
The Federal Reserve revealed in its quarterly survey on Monday (Feb. 5) that loan officers in banks around the U.S. eased lending...
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3.3KGoldman Sachs Encourages Personal Loans For Home Improvements
Goldman Sachs has taken another step to boost its presence in the consumer lending market by marketing home improvement loans to its...
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2.1KAnt Financial Approved To Issue Consumer Credit-Backed Securities
Ant Financial Services Group (which offers Alipay) said on Monday (Jan. 15) that it has garnered approval in China to issue consumer...
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2.1KChase Partners With AutoFi To Drive Online Auto Loans
JPMorgan Chase announced Thursday (Jan. 11) that it inked a partnership with AutoFi, the FinTech auto lending company. In a press release,...
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2.2KLenders Worry About SME Debt Levels
Firms that lend money to mid-sized businesses in the U.S. are growing worried about the levels of debt these companies have compared...
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7.4KMax Levchin On What Comes After $200M Worth Of Capital Affirmation
Fresh off a $200 million funding round, Affirm's CEO Max Levchin cautions PYMNTS' Karen Webster against thinking the money is simply a...
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4.2KBrown University To Replace Student Loans With Scholarships
With the nation collectively owing $1.3 trillion in student loan debt and countless graduates struggling to pay back their student loans, one...
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2.5KPayday Lender Floats Shares At $620M Valuation
Curo Group, one of the largest payday lenders in the U.S., went public on the stock market with a valuation of $620...
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3.0KMore People Are Paying Cash For Homes
Home buyers are facing a new challenge in finding mid-priced houses to purchase: Cash buyers who swoop in and snatch up all the...
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3.5KChina Clamps Down On Online Micro-Lenders
The Chinese government’s financial regulators have distributed new rules to local governments, targeting the fast-growing online micro-lending industry. According to news from Reuters,...
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3.5KNY Fed Sees Increase In Access To Consumer Credit
The Federal Reserve Bank of New York painted a more optimistic picture of U.S. households, saying access to credit has improved at...
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4.1KUnpaid Student Loans Cost Workers Jobs, Drivers’ Licenses
Student loans have an unexpected consequence if they go unpaid: Borrowers who default on their payments can lose their state-issued professional licenses....
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3.1KGoldman Sees $13B In Consumer Loans In Its Future
Goldman Sachs revealed that it can reach $13 billion in new consumer loans in the next three years through its Marcus online...
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New Study Suggests Online Lenders Target Vulnerable Consumers
The Federal Reserve Bank of Cleveland issued new research on the online lending market showing that borrowers end up in more debt...
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4.1KCapital One Exits The Mortgage Origination Business
Capital One Financial Corp. is getting out of the mortgage origination and home equity business, while continuing to service their existing and...
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3.0KVolkswagen Applies For UK Banking License
German car manufacturer Volkswagen (VW) has confirmed it is in the process of applying for a U.K. banking license that will enable it...
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2.7KBig Banks Put The Brakes On Retailer Loans
The country’s largest banks, JPMorgan Chase & Co., Bank of America and Citigroup, are reducing loans to retailers at a time when...
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2.9KMore Potential Homeowners Turning To Alternative Lending
A growing number of potential U.S. homebuyers are turning to alternative lenders to purchase their dream homes. According to news from CNBC,...
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2.3KIndian Bank’s Sour Loans Hit Near $146B
Reuters reported that bad debt continues to linger on Indian banks’ balance sheets. On Tuesday (Oct. 10), the newswire said that the...
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3.8KHome Lenders Woo Millennials With Student Loan Assistance
With millions of Americans shackled by massive student loan debt, one home lender is trying to entice potential buyers by paying off...
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4.1KFord To Use Machine Learning To Assess Credit Risk
ƒFord Motor Credit Co. the financing arm of the vehicle manufacturer, announced Friday (Aug. 25) that it will implement machine learning credit...
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5.3KDaimler Financial Services More Than Doubles Mobile Services Usage
Daimler Financial Services, the banking and finance unit of German car maker Daimler, is on track for another record year thanks to...
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2.6KLendio Has Facilitated More Than $500 Million In Small Business Loans
Lendio, a free online service that helps business owners find the right small business loans within minutes, announced it has helped facilitate...
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3.1KWells Fargo To Overhaul Auto Lending Unit
Wells Fargo & Co., the embattled bank, is reportedly overhauling its auto lending unit in an effort to control risk. According to...
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4.1KLendingPoint CEO On Medical Payments ‘Last Mile’ Problem
With healthcare costs on the perpetual rise, many employers are offering insurance plans with high deductibles to keep costs down. But that...
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4.0KEveryone Hates Payday Lenders And Check Cashers (Except The People Who Use Them)
Everyone hates consumer lenders — politicians, consumer groups, prayer circles — except the people who use them. They tend to like the...
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2.1KMercado Libre To Offer Working Capital Loans
Mercado Libre Inc, the Argentina online marketplace, is gearing up to offer working-capital loans to entrepreneurs in Brazil and Mexico during 2017, reported...
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4.8KFTC, Florida AG Shut Down Robocall Ring Offering Fake Credit Card Services
A federal district court judge has entered eight orders against a web of Orlando-based individuals and companies that bombarded consumers with illegal...
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2.8KStudent Loan Defaults Hurt Homeownership
Student loan debt is still hurting a slew of Americans, with the Federal Reserve Bank of New York saying Wednesday (May 31)...
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3.9KBig Banks Back Away From Auto Loans
Big banks are pulling back from the $1.2 trillion U.S. car loan market due to fears that consumers have taken on more...
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2.9KGovernment Pays $1B A Year On Student Loan Debt Collectors
Over the last few years, the federal government has spent $1 billion a year to pay debt collectors to help struggling borrowers out...
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2.8KCFPB Claims Few Student Loan Borrowers Use Affordable Repayment Options
With 44 million Americans currently in student loan debt, equaling just over $1.4 trillion, paying all of that back can seem like...
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3.0KCFPB Snapshot Highlights Biggest Student Loan Complaints
The Consumer Financial Protection Bureau (CFPB) released a monthly complaint snapshot revealing that both private and federal student loan borrowers nationwide report persistent servicing...
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5.0KHelping Investors Avoid The Lending Club Trap
Transparency cures all ills — especially in the online lending space where investors need certainty the pools of debt they’re buying are...
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2.9K
Navient Widens Its Monopoly On Student Debt With $6.9B JPMorgan Deal
With over $1.3 trillion owed in just the United States alone, student debt is likely one of the largest pieces of financial...
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7.1KMax Levchin And Building Truly Honest Finance Products
In February 2013, Max Levchin launched Affirm — a point-of-sale (POS) lender that would provide creditworthy millennials, who lacked credit cards and credit...
