The New York City taxicab industry has been suffering, with a series of suicides plaguing taxi drivers over the past year as they struggle with debt and financial strife. While New York City has long blamed Uber and Lyft for the industry’s woes, a New...
Standards on commercial real estate loans and credit card borrowing were tightened by U.S. banks during the first three months of the year, with banks aiming to prevent losses from loans exposed to Asian and European economies. Reuters, citing the U.S. Federal Reserve’s quarterly survey of senior...
Credit card losses at the biggest banks are outpacing auto and home loans, with the biggest margin seen in the last 10 years, according to Bloomberg. The problem is not yet out of hand, however. Since the economy remains strong and the unemployment rate is low,...
LendingClub, Opportunity Fund and Funding Circle announced on Tuesday (April 23) a collaboration aimed at providing small businesses with more affordable credit. In a press release, the online lending marketplace LendingClub said that starting in April, it will connect applicants looking for a small business...
Might banks be making inroads into the hearts and minds of smaller firms as they seek out capital – as some SMBs cite at least some dissatisfaction with non-banking lending conduits? The recent 2018 Small Business Credit Survey from the Federal Reserve Bank of New York...
Invoice2go and Square Capital announced late last week they inked a partnership in which Invoice2go customers can access funding from within the Invoice2go app. In a press release, the companies said the partnership marks the first time Square Capital, the small business loan program developed...
Goldman Sachs and Moody’s Analytics are warning that credit scores of consumers have been inflated during the past ten years, hiding the danger of defaults and increasing the risks for lenders. According to a report in Bloomberg citing Goldman Sachs and Moody’s, the warnings out...
SoLo Funds announced it has added a Mastercard integration so users can link their debit accounts to the peer-to-peer (P2P) lending platform. The company noted there are 100,000 Visa cardholders who already use the SoLo Funds platform, which allows users to request and receive a...
For the younger generation, for cash flow, look beyond four walls. In the latest staff report from the New York Federal Reserve, titled “Trends in Household Debt and Credit,” it is noted that one of the features of debt is that it can “provide access to...
