It’s reportedly a good time to be a “shadow bank” in India. These nonbanks are seeing a flood of investor money amid rising credit demand by consumers, the Financial Times (FT) reported Monday (Aug. 7). For example, Bain Capital last month bought a majority stake...
Roughly 300,000 student loan borrowers have died since the federal government’s 2020 loan moratorium. And according to a report Monday (Aug. 7) by Bloomberg News, that means the government will have to write off billions in those borrowers’ loans. The report says experts argue that 300,000 figure...
The rules of the road are changing. The fleet and mobility sector finds itself at the forefront of the winds of this transformation. The rise of electric vehicles (EVs), sustainability concerns and the emergence of mobility platforms that make it easier for drivers and riders...
Banks are continuing to tighten their terms on commercial and industrial loans. The proportion of U.S. banks tightening their terms on such loans for medium and large businesses rose to 50.8% in the second quarter, up from 46% in the first quarter, Bloomberg reported Monday (July 31),...
When it comes to student loans, it’s been three-plus years of paused repayment, a span in which many consumers have seen their financial lifestyle upended due to macroeconomic factors such as inflation, rising interest rates and mass layoffs. Given these headwinds, some simply may not...
As banks — especially larger players — grapple with a new capital reality, the opportunity may be there for smaller financial institutions (FIs) and FinTechs to capture some lending share, especially among small businesses. Bloomberg noted on Wednesday (July 26) that some of the biggest...
Cash flow management company Settle has secured a $145 million credit facility with Silicon Valley Bank. The financing, announced in a news release Tuesday (July 25), will let Settle develop its lending products for larger eCommerce and consumer brands. “Approximately 80 percent of small businesses fail because of cash-flow issues,”...
Citi says it wants to help its commercial banking clients meet their working capital needs. The banking giant on Wednesday (July 19) announced the launch of its trade and working capital eLoans solution for commercial clients in the U.S., designed to help clients meet their...
Experian has expanded its real-time income and employment verification offering. The enhancement enables consumers to provide permissioned access to their payroll accounts and share information directly from their employers’ payroll service, the global information services company said in a Wednesday (July 19) press release. “With...
