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Loans
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1.4KStripe Mulls Cash Advance Service For SMBs
Stripe, the digital payments startup, is reportedly testing a new cash advance service for its business customers. According to reports, the new...
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2.0KPublic Service Loan Forgiveness Program Accepts Few Applicants
To help manage their student loan debts, 28,000 borrowers have sent in 33,300 applications for the Public Service Loan Forgiveness (PSLF) program....
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2.7KChina’s X Financial Has A New US IPO And 400M P2P Leads
Peer-to-peer (P2P) lending in China is not for the faint of heart — and that’s putting it lightly. Banks offer credit limits...
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1.5KTurkey’s Central Bank Raises Rate Credit Card Lenders Can Charge
Turkey’s central bank announced effective in October it is raising the maximum interest rate credit card lenders can charge. According to a...
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2.5KCommunity Bank Lending To SMBs On The Upswing
New data shows that community banks lending to small businesses has increased in recent years. The U.S. Government Accountability Office (GAO) analyzed community bank...
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1.1KWonga Stops Taking New Loan Applications
Wonga, the U.K.-based payday lender, has halted accepting new loan applications. The Guardian, citing the company, reported that a statement on Wonga’s...
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1.6KUpgrade Is Upgrading The FinTech Lending Experience
When Renaud Laplanche launched hist latest lending start up, Upgrade, the venture was both quite similar to and yet quite different from...
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2.6KLaplanche’s Upgrade Raises $62M To Reinvent Consumer Credit
When Renaud Laplanche founded LendingClub 12 years ago in 2006, the lending landscape was a very different place. Most consumer and business...
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1.4KSoFi Eyes $1B Credit Line, Post Q2 Loss
Student loan refinancing company Social Finance (SoFi) is looking for a loan of its own: The company is in talks with banks...
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2.2KConsumer Borrowing Hits $13.29 Trillion In Second Quarter
American’s increased the amount of money they borrowed in the second quarter, with consumer borrowing reaching $13.29 trillion during the quarter ending...
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1.6KWells Considers Lending To Students With Government Debt
Wells Fargo might give its shrinking student lending business a boost by focusing on borrowers with U.S. government loans. The lender would...
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1.8KPE Firms Increase Their Business Lending Prowess
Private equity firms, driven in part by an influx of cash from investors looking for more yield on their investments, have been...
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1.2KWells Fargo To Pay More Than $2B Penalty Over Mortgage Loans
The U.S. Department of Justice (DOJ) announced that Wells Fargo will pay $2.09 billion in penalties to settle claims related to mortgage loans...
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3.5KLoan Defaults Plague Chinese P2P Industry
Investors have been withdrawing funds from peer-to-peer lending platforms amid a wave of defaults across the industry in China. According to a...
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2.1KSubstitute Ohio Payday Loan Bill Friendlier To Lenders
Senate Republicans expressed frustration because store owners still aren’t satisfied with the new payday lending bill, which is friendlier to lenders. “You...
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2.4KUS Business Loans Saw Second Quarter Uptick
In a sign of strength for the economy in the U.S. and welcome news for banks, business loans saw an uptick in...
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3.6KPersonal Loans Are The Fastest-Growing Lending Category
As a consumer lending category with the fastest growth, outstanding balances for personal loans jumped by about 18 percent to $120 billion...
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1.8K
Payday Loan Tycoon Charged With Bankruptcy Fraud
After allegedly creating millions of fake debts and selling them to bill collectors, payday loan magnate Joel Tucker was indicted on federal...
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2.6KTrump’s Small Biz Lending Bill Sees Approval From CBA
After the Senate passed legislation earlier this month that boosts the Small Business Administration’s lending authority, President Donald Trump signed that legislation...
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3.2KTexas Court Rules Against CFPB’s Payday Lending Act Delay
A Texas court ruled on Tuesday (June 12) against delaying the compliance date for the Consumer Financial Protection Bureau’s rule on payday...
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2.6KPayday Lending Changes In The Offing For Ohio
The Ohio House voted in favor of a controversial bill that will make significant changes to the payday and auto title lending...
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3.4KBlueVine CEO: The Real Value Of Invoice Factoring
The landscape in SMB lending is almost totally unrecognizable from what it was even a short five years ago, BlueVine Founder and CEO,...
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3.0K
Payday Lenders Buff Up Loan Products
Payday lenders are now offering an array of new financing products that are sending their stocks soaring. According to Bloomberg, Enova International...
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2.8K
Online Lending To Small Business Increases 50 Percent Between 2015 And 2017
Between 2015 and 2017, the amount of lending to small businesses by the five leading online lending providers increased 50 percent, according...
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3.5K
Ohio Payday Loan Reform Supporters Get Green Light
Consumer advocates in Ohio were granted permission to start collecting signatures to get a constitutional amendment regarding payday loan reform on the...
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4.0KWill Consumers Take On Too Much Debt In 2018?
The rate of credit card delinquencies jumped 52 basis points (BPS) in the first quarter (Q1) of 2018, and will likely continue...
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5.5KAuto Loan Delinquency Rate Reaches High of 5.8 Percent
Borrowers in the U.S. are defaulting on subprime auto loans at a higher rate than during the financial crisis in 2008. Data...
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2.8KOnDeck 1Q Sees Loan Growth, Better Credit Metrics
OnDeck Capital first quarter results, which were reported Tuesday (May 8), showed better credit metrics and headline numbers that topped the Street...
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2.6K
Some US Loan Standards Ease In Q1, But Not Credit Card Or Auto Loans
Lending standards for business loans eased at U.S. banks in the first quarter of the year, according to a new report from...
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6.2KMapping The Black Box: A Look Inside Machine Learning’s Powers And Quirks
“Machine learning is the answer to the financial inclusion problem.” So said Douglas Merrill, founder of ZestFinance. It’s a bold statement, considering that...
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2.0KOtting Loosens Rules On Short-Term Small-Dollar Loans
Joseph Otting, Comptroller of the Currency, says that rules on short-term, small-dollar lending should be relaxed so U.S. banks are able to...
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2.7KTwenty 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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1.9KCorporate 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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3.0KBoA 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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3.0KTrusting 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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5.1KCan 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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2.4KIndia 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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3.6KOnline 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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5.7KCredit 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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2.8KTD 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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3.7KGrab 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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4.0K
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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4.0KLendingPoint 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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7.6KBlinker 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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1.9KPremiums 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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2.8K
Business 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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4.7KGoldman 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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2.5KAnt 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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2.6KChase 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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2.7K
Lenders 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...
