United States consumers take out student loans in hopes that a college education for their children or themselves will contribute to a higher income later in life. The underlying assumption is that the loans they take on and later repay will provide a positive return...
The White House wants to offer debt relief to student loan borrowers as payments resume. According to an announcement last week by the U.S. Department of Education, the government will set up a year-long “on-ramp” to repayments — running from Oct. 1 of this year until Sept. 30,...
Gulp Data has secured a credit facility of up to $25 million to expand its commercial lending capacity. The firm will now offer businesses non-dilutive funding directly from its own balance sheet as well as working with forward flow partners, as it has done since 2021,...
European businesses have new options for securing loans. For example, Fidelity International is expanding into European business lending with a new fund that will make secured loans to midsized businesses on the continent, the Financial Times (FT) reported Sunday (June 18). That move comes shortly after asset manager BlackRock acquired private...
To make it easier for lenders to access real-time cash flow data, the FinTech Plaid has introduced a new hosted experience for its flagship product Plaid Link. The fully hosted, on-demand experience allows lenders to access consumer-permissioned cash flow data through Plaid during their underwriting...
SoFi has debuted a tool to help consumers pay off student loans and still save for retirement. The personal finance company’s SoFi at Work unit on Thursday (June 8) unveiled its student loan verification (SLV) service, launched in response to a recent change in retirement...
Citizens Financial Group will stop originating indirect car loans effective July 1. The financial institution will retain and continue to service the existing auto loans on its balance sheet, Citizens said in a Wednesday (June 7) press release. “As Citizens continues to optimize its balance sheet, this...
Smaller businesses have begun cutting back as banks impose tougher lending standards. As The Wall Street Journal (WSJ) notes in a Thursday (June 1) report on the phenomenon, merchants are having trouble getting new loans, seeing credit lines cut, or are facing higher borrowing costs,...
OneMain Financial, a nonbank personal loan installment lender, has been slapped with $20 million in redress and penalties by the Consumer Financial Protection Bureau (CFPB) for alleged deceptive sales practices. The CFPB accused the lender of duping borrowers into purchasing add-on products to receive a...