The Consumer Financial Protection Bureau detailed in its 2023 Consumer Response Annual Report that consumers have been the targets of fraudulent account openings, and installment loans were the most cited type of personal lending in complaints. The report, released Friday (March 29), noted that complaints...
Intuit QuickBooks has added a line of credit offering to the small business lending options available through its platform. The new QuickBooks Line of Credit enables small businesses to access funding from $1,000 to $50,000 and tap into the funding when and how they need...
Brazilian FinTech firms are reportedly grappling with a surge in loan defaults, leading to a crisis in the asset-backed credit market. The delinquency rates on unsecured loans offered by companies like Open Co, Nexoos and Gyra+ have exceeded 60%, prompting measures such as mergers, downsizing...
The White House is canceling nearly $6 billion in student loans for public service workers. The cancellation, announced Thursday (March 21), applies to 78,000 teachers, nurses, firefighters and other public sector employees. “These public service workers have dedicated their careers to serving their communities, but because of past administrative...
Banks — the stalwarts of traditional lending — are finding new channels and conduits to getting capital to borrowers, across alternative channels, and with FinTech collaborations forged and expanded. Alternative lending (or alt-lending) gets funding, typically short-term in nature, to borrowers, with one particular ready-made...
AffiniPay has announced that its fee lending solution for the legal industry, Pay Later, has processed over $125 million in legal fees since its launch in April 2022. Pay Later, which is a pay-over-time product designed specifically for the legal industry, has also been used...
Boulevard has added a new capital program to its client experience platform for self-care businesses like salons, barber shops, spas and med spas. The new Boulevard Capital financial offering provides these businesses with access to fast, flexible funding based on their demonstrated business performance rather...
Point-of-sale financing firm ChargeAfter has debuted an embedded lending platform for banks. The Lending Hub, announced Monday (Mar. 4), is designed to let banks and financial institutions streamline the development, distribution and management of multiple lending products, the company said in a news release. “Banks are seeking...
The U.S. Small Business Administration (SBA) has launched an enhanced version of its Lender Match tool that connects small business owners with SBA-approved lenders. The enhanced platform provides a mobile-first user interface that delivers better access and usability, the SBA said in a Monday (March...
