Microlending – or small loans (less than a few hundred dollars) – has become a popular, buzzed-about method of poverty relief over the last few decades. As of 2013, there were 211 million micro-borrowers worldwide; as of 2018, that number was nearly 240 million. Get...
As Friday (Jan. 11) came and went and government workers affected by the 21-day shutdown didn’t receive paychecks, U.S. banking regulators asked lenders to help workers who couldn’t pay their bills or needed credit in the meantime, according to a report from Reuters. Get the...
LendUp has announced it is scaling its credit card business as a stand-alone company, Mission Lane. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily...
Largely hailed as safe alternatives to payday loan firms, credit unions in the U.K. are shuttering at the fastest tempo in years, amid fears that poorer customers might lose access to credit, according to a report by The Financial Times. Get the Full Story Complete the...
Faced with a slowing economy and a trade dispute with the U.S., China’s central bank on Wednesday (Dec. 19) announced a new policy tool aimed at boosting lending to small and private companies. Get the Full Story Complete the form to unlock this article and...
Smaller banks around the country are feeling the pinch as rising interest rates keep earnings static on loans and customers want more interest on their deposits, according to a report from The Wall Street Journal. Get the Full Story Complete the form to unlock this...
One of the largest banks in Spain, Banco Bilbao Vizcaya Argentaria (BBVA), has completed a $170 million (€150 million) loan with Porsche Holding using blockchain technology, according to a report. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
Thanks to low unemployment, growth in GDP and real disposable income, TransUnion forecasted that consumer credit originations and consumer balances will increase in 2019 for the lion’s share of credit products. At the same time, TransUnion said delinquency rates will likely decrease or remain flat,...
B2B payments startup Razorpay announced the launch of Razorpay Capital, a lending marketplace offering both short-term working capital loans and long-term business loans. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
