JPMorgan Chase announced Thursday (Jan. 11) that it inked a partnership with AutoFi, the FinTech auto lending company. In a press release, Chase said that AutoFi enables customers to choose and finance automobiles through their website, allowing them to complete the purchase process faster. According...
Firms that lend money to mid-sized businesses in the U.S. are growing worried about the levels of debt these companies have compared to a year ago. Citing a survey by Carl Marks Advisors, Reuters reported that lenders who offered attractive terms to mid-sized business borrowers...
Fresh off a $200 million funding round, Affirm's CEO Max Levchin cautions PYMNTS' Karen Webster against thinking the money is simply a validation for the company -- and he says that even tougher, bigger challenges lie ahead. Here's his take on how the stage is being...
With the nation collectively owing $1.3 trillion in student loan debt and countless graduates struggling to pay back their student loans, one Ivy League school, Brown University, is getting rid of it. According to a report in Quartz, starting in the next school year Brown...
Curo Group, one of the largest payday lenders in the U.S., went public on the stock market with a valuation of $620 million. According to a report in the Financial Times, the lender – which goes after underbanked consumers or those who aren’t represented by...
Home buyers are facing a new challenge in finding mid-priced houses to purchase: Cash buyers who swoop in and snatch up all the properties. According to a report in The Wall Street Journal, while mortgage lending is finally rebounding after the housing crash of a few...
The Chinese government’s financial regulators have distributed new rules to local governments, targeting the fast-growing online micro-lending industry. According to news from Reuters, under the new rules, unlicensed organizations and individuals are not allowed to conduct a lending business. Lending institutions are also not allowed to...
The Federal Reserve Bank of New York painted a more optimistic picture of U.S. households, saying access to credit has improved at the same time that their risk of a financial shock has declined. According to a Reuters news report, a survey of consumer expectations...
Student loans have an unexpected consequence if they go unpaid: Borrowers who default on their payments can lose their state-issued professional licenses. That’s according to a news report in CNBC that found that in 19 states, government agencies can take away student loan borrowers’ licenses...
