The federal government has erased more than $127 billion in student loans since 2021. That debt forgiveness came from changes to existing programs, Bloomberg News reported Saturday (Nov. 11), freeing up some borrowers in spite of a Supreme Court ruling blocking President Joe Biden’s student...
LendingClub has crossed the $1 billion mark in personal loans sold through its Structured Loan Certificates Program (SLCLC Program) since the launch of that program in April. The company expects to double this volume to $2 billion over the next six months as it continues...
Meridian Leasing has added a new range of services to its offerings in the equipment financing industry. The new TrueFlex Finance line aims to provide complete flexibility to organizations of all sizes and industries, allowing customers to customize their equipment financing and acquisition strategies to suit their specific...
Figure Lending LLC and Figure Technologies announced Wednesday (Nov. 1) an expansion of their partnership business, which includes an increased offering under the Lending-as-a-Service (LaaS) platform. This expansion comes as Figure’s partnership business has experienced significant growth since the third quarter of 2022. One of the...
SoFi earnings lauded a surge in student loan demand ahead of repayments that resumed this fall, marking its highest quarterly pace of originations in more than a year. Earnings materials from the company noted that new membership momentum carried over into the most recent quarter...
U.S. Bank has introduced a tool that lets businesses offer consumer financing at point-of-sale. The lender’s Avvance offering, announced Tuesday (Oct. 24) is an “embedded, multi-channel point-of-sale lending solution” for businesses. According to a news release, Avvance lets shoppers pay over time with personalized loan options available during...
Access to a car is crucial for many Americans, especially those living in areas with limited public transportation options. However, the historically high prices of both new and used vehicles have made car ownership unattainable for many low-income workers. Interest rates for individuals with poor...
Student finance FinTech Earnest and debt guidance firm Payitoff have teamed to help borrowers lower student loan payments. The two companies on Monday (Oct. 26) announced the launch of their student loan management, a free tool that offers personalized repayment plan recommendations to reduce monthly payments. “The expiration of the...
The recent surge in delinquency rates on auto loans in the United States has raised concerns about the financial challenges faced by car owners. With interest rate hikes and rising inflation, many Americans are finding it increasingly difficult to afford their monthly car payments, Bloomberg reported Saturday...
