After allegedly creating millions of fake debts and selling them to bill collectors, payday loan magnate Joel Tucker was indicted on federal charges. Tucker reportedly raked in $7.3 million from the purported scheme, Bloomberg reported. Get the Full Story Complete the form to unlock this...
After the Senate passed legislation earlier this month that boosts the Small Business Administration’s lending authority, President Donald Trump signed that legislation into law Thursday, an action that got a nod of approval from the Consumer Bankers Association. Get the Full Story Complete the form...
A Texas court ruled on Tuesday (June 12) against delaying the compliance date for the Consumer Financial Protection Bureau’s rule on payday loans. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
The Ohio House voted in favor of a controversial bill that will make significant changes to the payday and auto title lending industry. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
The landscape in SMB lending is almost totally unrecognizable from what it was even a short five years ago, BlueVine Founder and CEO, Eyal Lifshitz, told Karen Webster shortly after his firm’s latest $60 million funding round was announced. Get the Full Story Complete the form...
Payday lenders are now offering an array of new financing products that are sending their stocks soaring. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our...
Between 2015 and 2017, the amount of lending to small businesses by the five leading online lending providers increased 50 percent, according to a new report from NDP Analytics, a Washington, D.C.-based economic research firm. Collectively, the amount of those loans reached $3.9 billion in 2017...
Consumer advocates in Ohio were granted permission to start collecting signatures to get a constitutional amendment regarding payday loan reform on the ballot. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
The rate of credit card delinquencies jumped 52 basis points (BPS) in the first quarter (Q1) of 2018, and will likely continue to increase over the next 12 months as consumers take on more debt. That’s according to an analysis from Moody’s on Friday (May...
