When it comes to financial technology and payments modernization, there’s nothing like a seasoned veteran of the business for some perspective. Carl Pascarella, former CEO of Visa USA from 1993 to 2005, believes that the credit industry requires an upgrade. After following his time in...
Stream Innovations has secured a $400 million warehouse facility from Goldman Sachs to expand its portfolio of home improvement loans. The company, which provides point-of-sale financing for home improvement and solar installations, currently has $670 million in loans under management and expects to originate $800 million...
The Small Business Administration (SBA) reportedly plans to launch a working capital pilot program that will include government-backed credit lines of up to $5 million. The pilot program is designed to be attractive to both lenders and borrowers and to provide small businesses with working...
MoneyGram International reportedly failed to secure lower borrowing costs on a $398 million leveraged loan before a deadline on Thursday (May 23). The company had aimed to convince lenders to cut the borrowing costs on the loan that helped finance Madison Dearborn Partners’ leveraged buyout of...
The FICO score — what we might think of as the general “shorthand” for lending — was created back in 1989. In the decades since, and now as we’re on the cusp of the middle of the 2020s, relying on the triple-digit number to crystallize...
New York Community Bank (NYCB) is selling $5 billion in loans to J.P. Morgan Chase. The sale of these “mortgage warehouse loans” is designed to strengthen the regional bank’s capital and liquidity, according to a Tuesday (May 14) press release. “Consistent with my guidance during our recent earnings call,...
We are in the midst of a working capital revolution — one that is increasingly driven by innovation and made more necessary by the macroeconomic backdrop, particularly for those middle-market firms generating annual revenues between $50 million and $1 billion. As more firms seek out and put external capital to work,...
Experian has launched a solution designed to further inform lending decisions and expand access to credit. The new Cashflow Attributes uses open banking insights from more than 900 income, cash flow and affordability attributes that lenders can use in their decision-making, the global information services...
Banks and corporates by and large showed cautious optimism regarding consumer spending during the first-quarter earnings season. Now, the operative question surrounds the use of credit for the balance of Q2 and the rest of 2024. Will consumers want to borrow to maintain their spending?...
