Nova Credit has introduced its Nova Credit Platform, which is aimed at transforming how lenders manage and analyze consumer credit data. This new platform provides a means for easy integration, efficient management and insightful analysis of consumer credit data from alternative sources, adhering to consumer reporting agency...
American lenders have loaned so-called “shadow banks” more than $1 trillion, and regulators are worried. That’s according to a report Saturday (Feb. 10) by the Financial Times (FT), which cites recent figures from the U.S. Federal Reserve showing that U.S. banks’ loans to non-deposit-taking financial...
The Consumer Financial Protection Bureau (CFPB) has released guidance for lenders who utilize artificial intelligence (AI) and complex models in their credit decision-making processes. The guidance emphasizes the need for lenders to provide specific and accurate explanations when making credit denials, the regulator said in a Tuesday (Sept. 19) press...
Amid the current cost of living crisis in the United Kingdom, some commercial lenders have joined forces with the British government to offer interest-free loans to high-risk borrowers. The government is funneling 45 million pounds ($57 million) from its Dormant Assets Scheme — previously set...
August 11, 2023
With change comes challenge, but with challenge comes opportunity. As 2023 marches on, much of the initial doom and gloom-fueled skepticism around how the year would play out has abated, and there is hope on the horizon. “The one big thing we are talking about with our clients, both lenders and merchants, is what exactly […]
April 11, 2023
As inflation rises and recession looms, consumers are anxious about their finances. With 48% of consumers less likely to take out a loan since interest rates have increased, banks must...
August 29, 2017
The final payday lending rules are coming, but reporting by The Wall Street Journal over the weekend suggests that they may not take quite the toll on the lending industry as once thought. The Consumer Financial...
August 11, 2017
The Great Recession had a crippling effect on credit markets across the board. Consumers, enterprise-sized businesses and small businesses (SMBs) all found themselves caught in the squeeze of a wide-ranging...
March 04, 2024
Nova Credit has introduced its Nova Credit Platform, which is aimed at transforming how lenders manage and analyze consumer credit data. This new platform provides a means for easy integration, efficient management and insightful analysis of consumer credit data from alternative sources, adhering to consumer reporting agency standards, the company said in a Monday (March 4) press release. […]
February 11, 2024
American lenders have loaned so-called “shadow banks” more than $1 trillion, and regulators are worried. That’s according to a report Saturday (Feb. 10) by the Financial Times (FT), which cites...
September 19, 2023
The Consumer Financial Protection Bureau (CFPB) has released guidance for lenders who utilize artificial intelligence (AI) and complex models in their credit decision-making processes. The guidance emphasizes the need for lenders to provide specific...
August 15, 2023
Amid the current cost of living crisis in the United Kingdom, some commercial lenders have joined forces with the British government to offer interest-free loans to high-risk borrowers. The government...
