U.K. payday lending startup Wonga has come to the end of the road, having filed for administration (similar in concept to bankruptcy in the U.S.) in the closing days of last week. The firm has confirmed that it has appointed Grant Thornton as administrators who...
It was supposed to be a strong year for lending across the board, after a stumpy 2017, which saw numbers in both consumer and commercial lending tending toward a slump. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
While the Great Recession technically began in Dec. 2007, most people remember a different date as the “real” start to the Great Recession: Sept. 15, 2008. That was the day Lehman Brothers officially filed for bankruptcy. Six days later, The New York Times reported that Bear Stearns was...
Headquartered in Orange County, California and founded in 2003, CashCall is a big firm that consumers likely know best from its early commercials featuring the late Gary Coleman. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
Changes may soon be coming to the Military Lending Act (MLA), a piece of legislation designed to prevent military service members from getting swept up in deceptive or unfair lending practices. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Payday and short-term lending is a contentious topic in the United States, particularly when it comes to its regulation. The loans, usually for small-dollar amounts and short terms, are hailed by supporters as necessary tools for consumers facing a financial burden, such as an unexpected car...
Ironically, as the global economy has gotten stronger, payment cycles between buyers and suppliers have gotten longer. 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...
The P2P lending market is big business in the U.K. According to the U.K. Peer-to-Peer Finance Association (P2PFA), a self-regulating P2P industry group that includes most of the biggest names in U.K. marketplace lending, the country’s P2P lending industry had hit £9 billion in loan...
When people talk about the plight of living paycheck to paycheck, Even Responsible Finance CEO Jon Schlossberg told Karen Webster in a recent conversation, they usually aren’t thinking broadly enough about the problem or who it effects. When most people think about financial instability, they...
