PNC Financial Services Group saw delinquencies, total non-performing loans (NPLs) and net loan charge-offs increase during the fourth quarter. One notable contributor to the increase was the commercial real estate (CRE) portfolio, Robert Q. Reilly, executive vice president and chief financial officer at PNC, said Tuesday...
Traditionally, consumers rely on their primary financial institutions (FIs), such as banks or credit unions (CUs), for credit products like credit cards, mortgages, auto loans and personal loans. However, research indicates a shift in consumer behavior, with more individuals actively seeking better deals and turning...
About 30% of consumers have low credit scores — 650 or less — that have denied them access to credit products. These consumers and others are considered to be credit marginalized, according to “The Credit Accessibility Series: The Credit Insecure Need More Education,” a PYMNTS...
While this wasn’t a good year for commercial real estate, banks saw commercial loan growth. These loans — known as CRE loans — were up 3% year over year, while general commercial-industrial loans were down 1%, The Wall Street Journal (WSJ) reported Tuesday (Dec. 26),...
India’s recent crackdown on unsecured consumer loans has reportedly placed increased pressure on FinTech lenders. The Financial Times (FT) examined the state of companies such as Paytm in a report Sunday (Dec. 17), following the Reserve Bank of India (RBI) announcing last month that lenders had to...
Swiss crypto custody firm Taurus has launched a partnership with lending platform Teylor. The partnership, as reported Thursday (Dec. 14) by Coindesk, allows Teylor’s credit portfolio tokens to be admitted for secondary market trading on the Taurus TDX market. Taurus Co-founder Lamine Brahimi told the news outlet that the tokenization...
Private equity firm Bain Capital has reportedly sold a $448 stake in India’s Axis Bank. The company made the block trade Wednesday (Dec. 13), Reuters reported, citing a term sheet seen by the news outlet. Reuters notes that it wasn’t clear how much of a stake Bain had in Axis,...
The lending landscape is undergoing a system-level shift that promises to benefit both borrowers and lenders. FinTech innovations, and an evolving mindset within the industry, are combining to usher in a new era of underwriting methods that draw from alternative data sources and advanced analytics...
Paytm’s stock hit a two-year low Thursday (Dec. 7) after it changed its small-ticket loan policy and brokers downgraded its stock. The Indian FinTech had announced earlier in the week that it would make fewer small loans — those below 50,000 rupees, or $600 — in light...
