Private equity firms, driven in part by an influx of cash from investors looking for more yield on their investments, have been acting as lenders, financing deals that banks are shying away from. Get the Full Story Complete the form to unlock this article and...
The U.S. Department of Justice (DOJ) announced that Wells Fargo will pay $2.09 billion in penalties to settle claims related to mortgage loans that the lender processed before the last recession. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
Investors have been withdrawing funds from peer-to-peer lending platforms amid a wave of defaults across the industry in China. 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...
Senate Republicans expressed frustration because store owners still aren’t satisfied with the new payday lending bill, which is friendlier to lenders. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
In a sign of strength for the economy in the U.S. and welcome news for banks, business loans saw an uptick in the second quarter. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
As a consumer lending category with the fastest growth, outstanding balances for personal loans jumped by about 18 percent to $120 billion in the first quarter. And the percentage of loans originated by FinTech firms is growing astronomically: While they originated less than 1 percent...
After allegedly creating millions of fake debts and selling them to bill collectors, payday loan magnate Joel Tucker was indicted on federal charges. Tucker reportedly raked in $7.3 million from the purported scheme, Bloomberg reported. Get the Full Story Complete the form to unlock this...
After the Senate passed legislation earlier this month that boosts the Small Business Administration’s lending authority, President Donald Trump signed that legislation into law Thursday, an action that got a nod of approval from the Consumer Bankers Association. Get the Full Story Complete the form...
A Texas court ruled on Tuesday (June 12) against delaying the compliance date for the Consumer Financial Protection Bureau’s rule on payday loans. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
