LendingClub says it is expanding access to personal loans by extending the capabilities of its LCX electronic trading platform to include LCX Link. “This innovation opens access and removes friction for institutional platform investors, allowing them to automatically purchase, sell and settle loan transactions through LCX...
Chinese firm ByteDance, owner of video-driven social media sites TikTok and Douyin, is looking for roughly $4 billion in loans as its initial public offering (IPO) hangs in the wings amid the continuing government crackdown on technology companies in China, Bloomberg reported Wednesday (Sept. 8)....
China’s central bank is planning to provide 300 billion yuan, or $46.4 billion, in low-cost funding to aid banks in providing support for small- and medium-sized businesses (SMBs), according to Bloomberg on Wednesday (Sept. 1). The money will come from the state’s relending facility. And at...
Banks sitting on piles of cash are quickly easing lending standards for both consumers and small businesses in the second quarter as competition to extend loans heats up, according to Financial Times (FT) and data from the U.S. Federal Reserve. See also: Banks Soften First-Quarter...
Mastercard FinTech company Finicity on Thursday (Aug. 26) announced an expansion of its one-touch mortgage verification service, which will now be integrated into ICE Mortgage Technology, per a press release. The software integration allows borrowers to grant authorization seamlessly to ensure that lenders can obtain...
Wells Fargo has gone back on a previous declaration that it would be doing away with its personal credit lines, Bloomberg reported. The lender has, in the last few days, been informing customers using personal credit lines that the financing channels will still be available,...
Citi announced on Wednesday (August 11) that it is introducing the launch of Bridge built by Citi, a new lending platform intended to assist small and medium-sized businesses (SMBs) meet up with local lenders for loans up to $10 million. The Bridge built by Citi...
Numerated, a four-year-old FinTech digital lending platform, has added new features to automate processes for business lending products, the company announced on Wednesday (Aug. 4). The Boston-headquartered startup provides its bank and credit union (CU) customers with a single digital lending platform for both secured...
Consumer applications for mortgages, car loans and revolving credit cards had essentially returned to pre-pandemic levels by May, a new report from the Consumer Financial Protection Bureau (CFPB) has found. According to the CFPB, prime and near-prime consumers are the key drivers for this recovery,...