While Cross River Bank had been doing massive amounts of work helping small businesses get Paycheck Protection Program (PPP) loans at the beginning of the pandemic, there are concerns about borrowers who aren’t applying for forgiveness. The bank has made around $1 billion in fees...
Banks and credit unions (CUs) want to advance their digital strategies and offer new conveniences to customers but may be wary of the cost of implementation or subscriptions. That’s the challenge mortgage lender Rocket Mortgage and digital transformation solution provider Q2 Holdings are solving with...
Income and employment verification startup Truework secured a $50 million Series C funding deal that will go toward helping the company continue product development, add to its pool of talent and build out its platform. The fresh funding was led by G Squared, with participation...
Mobile lending startup iCreditWorks is launching an installment product to add to its suite of point-of-sale (POS) financing solutions that enable users to pay off purchases in four payments. The Pay-In-4 installment loan offered by iCreditWorks is paid by the customer in four equal installments. The first...
U.S. Bank can now provide loan funds to car dealers immediately after a loan contract is finalized by the bank, according to a Tuesday (Aug. 9) press release. The bank has helped more than 800 auto dealers receive real-time funds following a pilot program in...
Helping to meet Latin American corporations’ need for loans and assistance with spend management, Goldman Sachs Group has lent $150 million to Clara, a Mexican startup that provides lending services to businesses in Mexico, Brazil and Columbia. With the new financing, the Mexican company —...
In the first two days of Poland’s national “mortgage holiday” more than 500,000 Polish mortgage holders took advantage of the new law allowing them to temporarily suspend mortgage repayments, reported the country’s Prime Minister, Mateusz Morawiecki. Since Friday (July 29), people who hold a mortgage...
The credit crunch looms for auto lenders — perhaps most imminently for those lending to the subprime market. To that end, and as noted Tuesday (Aug. 2) by sites such as Seeking Alpha, Credit Acceptance, which helps auto dealers offer vehicle financing — including to...
Equifax provided inaccurate credit scores for millions of Americans seeking loans over a three-week period in the spring, The Wall Street Journal (WSJ) reported Tuesday (Aug. 2). The credit bureau sent the scores to banks and nonbank lenders in response to people applying for car...