loans

When Banks Say ‘No,’ Cash-Strapped Businesses Turn to Lending Marketplaces

When Banks Say ‘No,’ Cash-Strapped Businesses Turn to Lending Marketplaces
When Banks Say ‘No,’ Cash-Strapped Businesses Turn to Lending Marketplaces
February 10, 2022  |  B2B Payments

As companies continue the never-ending work of making processes more efficient, today’s chief financial officers (CFOs) play a critical role in helping to determine where...

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Elevate Credit Ordered to Pay $3.3M for Predatory Lending Practices
Elevate Credit Ordered to Pay $3.3M for Predatory Lending Practices
February 10, 2022  |  Legal

Elevate Credit agreed to pay a minimum of $3.3 million for charging people interest rates above the 24% maximum allowed by Washington, D.C for loans...

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Vroom Announces $296M Loan Securitization
Vroom Announces $296M Loan Securitization
February 10, 2022  |  Loans

Online used car buying and selling platform Vroom has unveiled the pricing of its first auto loan securitization offering of $296 million, the company said...

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Nav, Enova Team on Instant SMB Financing
Nav, Enova Team on Instant SMB Financing
February 09, 2022  |  Partnerships

Nav Technologies, the financing platform allowing small businesses to compare financing, is expanding its relationship with Enova SMB, which will allow small businesses more access...

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DoorDash Announces Financing Service as Aggregators Compete for Restaurant Loyalty
DoorDash Announces Financing Service as Aggregators Compete for Restaurant Loyalty
February 09, 2022  |  Loans

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Consumer Advocates Could Find a Friend in the FDIC to Fight ‘Rent-a-Bank’ Loans
Consumer Advocates Could Find a Friend in the FDIC to Fight ‘Rent-a-Bank’ Loans
February 08, 2022  |  Regulation

A dozen consumer protection groups like the National Community Reinvestment Coalition are calling on the Federal Deposit Insurance Corporation (FDIC) to stop a practice known...

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Rent-a-Bank Model May Be Living on Borrowed Time
Rent-a-Bank Model May Be Living on Borrowed Time
February 07, 2022  |  Banking

As FinTechs gain ground within financial services, as banks partner with these digital-first upstarts to broaden their offerings, several business practices are coming under scrutiny...

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Platforms Force Banks to Rethink Their BNPL Value for Small Merchants
Platforms Force Banks to Rethink Their BNPL Value for Small Merchants
February 07, 2022  |  Digital-First Banking

With new entrants to the business lending environment adding competition — and then pressured by a two-year cash crunch coupled with new forms of lending...

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Advocacy Groups Call on Regulators to Ban High-Interest Rate FinTech Loans
Advocacy Groups Call on Regulators to Ban High-Interest Rate FinTech Loans
February 06, 2022  |  Banking

A coalition of advocacy groups wants U.S. regulators to look more into banks partnering with FinTechs to charge predatory interest rates that would be otherwise...

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