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 When PayPal Co-founder Max...
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...
Tala, the consumer lending app in emerging markets, announced Monday (Oct. 22) a strategic investment from PayPal. In a press release, Tala said the undisclosed investment from PayPal will help the company bring visibility and access to underserved regions in emerging markets across the world....
Short-term lending – specifically, payday loans – have attracted a lot of attention in recent years, from the media and from the regulators. A little more than a year ago, the CFPB (now also known as the BCFP) dropped its final version of its new...
Mike Cagney first made his name in financial services as the founder and CEO of SoFi, an alternative credit startup that got its start re-refinancing student loans for graduates of elite universities. SoFi grew up quickly, expanding both the number and types of products it...
About a year ago, the CFPB, which now goes by the BCFP, dropped the final version of its payday lending regulations. This followed a nearly five-year-long process that included debates, discussions and a few out-and-out screaming contests. At its core, the new set of rules restricted a lender’s ability to continually collect fees on small loans by more...
