Loans

Loans
Near-Record Low Rates Trigger Refi Wave Among US Homeowners
August 18, 2019

U.S. mortgage refinancing is on the uptick as fears about fluctuating global markets cause a drop in interest rates, the Financial Times reported Sunday (Aug. 18). As more people invested in the safety of U.S. Treasuries, yields and mortgage rates dropped. The average interest rate...

Loans
Citi Pilots Credit Card Installment Loans Down Under
August 18, 2019

Citi Australia wants in on the burgeoning buy now, pay later market and is launching a new installment loan product with Kogan that will swap flat rates for interest rates, The Sydney Morning Herald reported on Sunday (Aug. 18). Following in Afterpay’s footsteps, the leader...

Loans
Negative Interest Rates And Negative Ripple Effects
August 16, 2019

Please take out a loan. Stimulate the economy. We’ll pay you to do it. News came this week that Jysek Bank, a Danish bank that is among the largest in that country, is bringing to market what is being billed by publications such as The...

Loans
LendingClub Broadens Access To Credit With Select Plus Platform
August 06, 2019

To broaden access to responsible credit with additional models, LendingClub has announced the rollout of its Select Plus Platform. The offering opens the company’s marketplace to sophisticated investors to find opportunities for approving borrowers who fall outside the current criteria, LendingClub said in an announcement....

Loans
Fed Survey: Loan Standards Ease For Smaller Firms
August 05, 2019

A survey of bank officers published on Monday (Aug. 5) showed loan standards on commercial and industrial loans to both large and mid-sized firms during the second quarter of 2019 didn’t change, and standards were eased on smaller firms, according to a report by Reuters....

Loans
Chase Terminates OnDeck SMB Loan Collaboration
July 29, 2019

Following its disclosure that JPMorgan Chase would no longer originate new small business loans through OnDeck’s platform hosting Chase Business Quick Capital, shares in OnDeck fell 22 percent. However, the company will still function as a servicer for up to two years when it comes...

Loans
CA Proposes Lending Regs To Protect SMB Borrowers
July 29, 2019

Proposed regulations would give small businesses in California the nation’s most extensive set of truth-in-lending protections for small business borrowers.  The new rules were released on Monday (July 29) by the Department of Business Oversight (DBO) and seek to protect the state’s 4 million small...

Loans
Jack Ma’s Digital Bank Offers Three-Minute Loans To SMBs
July 28, 2019

Jack Ma’s MYbank is aiming to change the way China lends to small businesses. The 4-year-old bank uses real-time payments data and a risk-management system that analyzes more than 3,000 variables to allow borrowers to apply for a loan on a smartphone and receive cash...

Loans
Stifel Launches Lending Unit For Startups And Their Investors
July 22, 2019

Stifel Financial Corp. has announced the launch of a venture banking and lending business to provide debt capital financing and commercial banking solutions to growth companies and their investors. The business will target early stage startups through mature growth companies, with a focus on the...