Loans

Loans
US Bank Helps Car Dealers Deliver Instant Funding
August 09, 2022

U.S. Bank can now provide loan funds to car dealers immediately after a loan contract is finalized by the bank, according to a Tuesday (Aug. 9) press release. The bank has helped more than 800 auto dealers receive real-time funds following a pilot program in...

Loans
Goldman Sachs Group Lends $150M to Clara to Meet LatAm Firms’ Need for Loans
August 08, 2022

Helping to meet Latin American corporations’ need for loans and assistance with spend management, Goldman Sachs Group has lent $150 million to Clara, a Mexican startup that provides lending services to businesses in Mexico, Brazil and Columbia. With the new financing, the Mexican company —...

Loans
Half a Million Poles Use Mortgage Holiday in First Two Days of Initiative
August 03, 2022

In the first two days of Poland’s national “mortgage holiday” more than 500,000 Polish mortgage holders took advantage of the new law allowing them to temporarily suspend mortgage repayments, reported the country’s Prime Minister, Mateusz Morawiecki. Since Friday (July 29), people who hold a mortgage...

Loans
Credit Crunch Looms for Auto Lenders as Paycheck-to-Paycheck Pressures Intensify
August 02, 2022

The credit crunch looms for auto lenders — perhaps most imminently for those lending to the subprime market. To that end, and as noted Tuesday (Aug. 2) by sites such as Seeking Alpha, Credit Acceptance, which helps auto dealers offer vehicle financing — including to...

Loans
Report: Equifax Glitch Sent Millions of Wrong Credit Scores to Lenders, Impacted Loan Rates
August 02, 2022

Equifax provided inaccurate credit scores for millions of Americans seeking loans over a three-week period in the spring, The Wall Street Journal (WSJ) reported Tuesday (Aug. 2). The credit bureau sent the scores to banks and nonbank lenders in response to people applying for car...

Loans
UK Sees Surge in Pawnbroking as Inflation Continues to Rise
July 31, 2022

Higher living costs have created more demand from borrowers looking for small loans, leading a number of individuals in the United Kingdom to explore the options available through pawnbrokers. There’s also been a crackdown on high-interest lenders, which has left less options for customers, the...

Loans
US Credit Card Issuers Compete for New Business
July 31, 2022

Credit card lenders have been stepping up their marketing efforts to draw in new borrowers, showing confidence in U.S. consumers even as the economy could be tilting toward a recession. The volume of paper and digital mail solicitations increased for the second quarter in a...

Loans
Electric Vehicle Maker Fisker Announces Digital Financing Platform
July 10, 2022

Fisker, which makes electric vehicles, has debuted a new digital financing platform, a press release said Friday (July 8). Called Fisker Finance, it will offer seamless loan purchase options for customers. Fisker Finance will allow customers to apply for vehicle financing and get “competitive, personalized”...

Loans
Finastra Launches BNPL Alternative Tool
July 01, 2022

British FinTech Finastra has debuted an embedded customer lending product, a solution the company says provides access to “traditional regulated lending options” for customers at point of sale (POS). “For end consumers, Finastra Embedded Consumer Lending aims to make the buying process as frictionless as...