Could it be that the CFPB, under new Executive Director Kathy Kraninger, will be moving directly to eliminate the more controversial provisions of its payday lending rule? According to sources cited by American Banker, the CFPB will remove the controversial underwriting rules that would have forced lenders to...
Washington, D.C. is both a rich city and a poor city. Filled with federal workers and contractors, the nation’s capital has a high cost of living: Average monthly rent on an apartment runs about $2,000 and according to some estimates the base annual income needed to “live...
“It was the best of times, it was the worst of times…” -Charles Dickens, A Tale of Two Cities 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...
The conversation about credit in the U.S. has become one of extremes. 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 newsletter, PYMNTS Today. By...
The NY AG is looking into how state courts are a weapon against small business owners, who sign documents that allow merchant cash advance firms to do far more than charge exorbitant rates. Through confessions of judgement, these less than scrupulous lenders can drain bank...
According to the latest Q3 2018 TransUnion’s Industry Insights Report the back half of 2018 has been a good year for sub-prime borrowers looking for access to credit. In the year between Q2 2017 and Q2 2018, sub-prime consumer loan originations grew 28 percent between Q2 2017 and Q2 2018 across the...
On November 14th 2017, the price of bitcoin was a little over $6,500 — a bit more than it is today at $6,300. It might be easy to look at that 5 percent year-on-year price decline and conclude that perhaps the world’s best-known cryptocurrency is getting...
“The more I looked at retailer-sponsored finance, the more I realized people routinely end up paying atrociously more than they bargained for … This is not only morally outrageous, but it’s bad for business.” — Max Levchin, Founder & CEO, Affirm Get the Full Story...
In the course of conversations with many innovators and entrepreneurs about how they ended up founding the firms they founded, we tend to hear something of a recurring theme. It always starts with a problem, usually one the innovator has run across in their day-to-day...
