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Eurozone Banks May Have Trouble Repaying ECB Loans 
December 09, 2022

Some Eurozone banks reportedly may have trouble paying back the European Central Bank (ECB).  Banks are now repaying loans from the ECB’s Targeted Longer-Term Refinancing Operations (TLTRO) because the central bank raised the borrowing costs. Still, they may find it more difficult to raise funds in the...

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FinTechs Give EU Post Offices Edge in Small Business Lending
December 05, 2022

Besides enabling mail deliveries, Europe’s post offices are evolving to meet modern banking needs. Leveraging their established branch networks and existing infrastructure, the likes of France’s La Poste, Italy’s Poste Italiane, and Post Office in the U.K. are becoming an increasingly powerful banking center, creating...

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EU Banks Dial Back Lending
December 04, 2022

Europe’s banks will likely reduce lending next year as the region dips into a recession. That’s according to a Sunday (Dec. 4) Financial Times report, citing data from the consultancy EY. The report says that the reduction in lending — the first in nine years...

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Business Services Provider Zventus Launches FinTech-in-a-Box for Lenders
December 02, 2022

Zventus has launched a solution designed to help lenders better compete with FinTech companies. The global business services provider said in a Friday (Dec. 2) press release that its new FinTech-in-a-Box enables lenders of all types to simplify lending processes, improve the borrower experience, reduce...

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FinTech Propel Holdings Expands Online Lending Platform to Canada
November 21, 2022

Propel Holdings, a FinTech that offers users access to credit in the United States, has entered the Canadian market with an online credit offering for underserved Canadian consumers.  Fora Credit is now available in Alberta and Ontario and will be rolled out into additional provinces...

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UK Borrowers Due Millions as Lenders Fail to Meet FCA Expectations
November 09, 2022

When the COVID-19 pandemic struck in 2020, the U.K.’s Financial Conduct Authority (FCA) asked the country’s lenders to offer payment deferrals as a means of supporting customers struggling to meet their repayment obligations because of the crisis. In a report published last week, the FCA...

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Upstart Plunges as Rising Interest Rates Crush Loan Demand
November 09, 2022

Shares of AI-lending platform Upstart plunged more than 20% Tuesday (Nov 8) evening after the company said rising interest rates and a slowing economy saw its tally of new loans cut in half. At the same time, the company’s third-quarter earnings report showed total revenue...

Loans
Subprime Auto Loan Bond Delinquency Rate at 5.13% in October
November 08, 2022

The percentage of subprime auto loan borrowers who have fallen behind on payments has risen by more than a percentage point over the last year.  The share of borrowers who are at least 61 days late on a payment stood at 5.13% in October, up...

Loans
Some Student Loan Borrowers Get Refunds for Payments in Pandemic
November 01, 2022

Despite a legal challenge to its student loan forgiveness program, the federal government is reportedly sending refund checks for student loan payments that borrowers made during a moratorium on such payments during the pandemic.  The refunds are going to those who paid down their loans...