Thanksgiving is in front of us, though we all know the unofficial kickoff to the holiday spending season really happens before Black Friday. For many individuals and families – newly vaccinated, traveling and wearied by the pandemic – the wallets may open wider than before....
The Consumer Financial Protection Bureau (CFPB) filed a lawsuit against pawn lenders FirstCash, Inc. and Cash America West, Inc. on Friday (Nov. 12) in a Texas federal district court, charging the companies with violating the Military Lending Act (MLA) by charging active-duty service members too...
As growth stocks continue their heady (but never completely steady) climb on Wall Street, the question remains: When are triple-digit gains not enough? Upstart Holdings, an online lending platform underpinned by artificial intelligence (AI), reported results on Wednesday (Nov. 10) after the market closed that...
The payments company Alliance Data Systems has formed a partnership with the buy now, pay later (BNPL) platform Sezzle, with Alliance offering its installment loan business Bread through Sezzle’s merchant network. “Through the integrated partnership, Sezzle will leverage Bread’s deep underwriting and installment loan product...
Payments and financial services provider Fiserv has launched a digital credit and lending platform for small and medium-sized businesses (SMBs). “The latest Fiserv offering, leveraging the Atlas Platform from FinTech StreetShares, allows financial institutions to manage the full lending lifecycle from digital document capture, underwriting,...
Technology platform FutureFuel.io announced a collaboration with global payments provider Fiserv that will enable banks and credit unions to bring the FutureFuel.io student loan repayment platform to consumers, according to a Wednesday (Oct. 13) press release. As the emergency federal student loan payment suspension expiration...
At a glance, it could be argued that small business owners have more choices than ever to get the working capital they need, as FinTechs, neobanks and legacy lenders all compete to offer loans and lines of credit. But available options are not always viable...
Oportun, a specialist in low- to moderate-income lending, which services many Latinos, has withdrawn its application for a bank charter. The withdrawal was voluntary, and a report from the company says the CFPB was looking into claims that Oportun had violated consumer protection laws with...
There’s been a confluence of events to set the stage for retail banking’s disintermediation — and for the growth in lending facilitated by online platforms to continue. LendingClub Financial Health Officer Anuj Nayar said regulations have been updated, connectivity has improved, and everyone has computing...