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EuropeFintechUSA
·Jun. 29, 2020

European Investors Looking to Back US Consumer Loans

Dynamic Credit is an asset manager that started in New York but has strong European ties; they have launched their...
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FintechUSA
·Jun. 22, 2020

Banks Are Flooded With Deposits As They Cut Back on Lending

We are living in times of extremes, particularly when it comes to economic data, and this is reflected in the...
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News RoundupFintechUSA
·May. 9, 2019

Sanders and Ocasio-Cortez Propose Caps on Credit Credits, Consumer Loans

Bernie Sanders and Rep. Alexandria Ocasio-Cortez are planning to propose legislation to cap rates on credit cards and consumer loans...
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FintechUSANews Roundup
·Jan. 12, 2018

Goldman Sachs Offering Home Improvement Loans

Goldman Sachs continues to expand into consumer lending and plans to offer home improvement loans this month; the loans are non-secured personal loans with interest rates lower than credit cards but higher than HELOCs; the company believes the quick financing time will be attractive compared to a HELOC. Source

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Online LendingNews Roundup
·Apr. 19, 2017

Some Lenders Pulling Hard Inquiry on Consumer Loan Internet Search

The BBC reports on the practices of internet lenders, noting that borrowers should be cautious when searching for online loans in order to protect their credit scores; TSB says some loan providers issue a hard inquiry for a loan price or quote which can harm borrowers who are only considering loan options; the bank is lobbying for more regulated practices and says, "Personal loans providers must agree never to perform a hard credit check until the customer chooses to actually purchase a loan in full knowledge of the price being offered." Source

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FintechUSA
·Jun. 26, 2020

LendingClub Provides an Investor Update

LendingClub provided an investor update in a blog post yesterday that demonstrates the resilience of their borrower base; the company...
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News RoundupFintechUSA
·Feb. 25, 2020

LendingPoint Announces Two Securitizations Totaling over $240 Million

LendingPoint has closed two securitizations, one composed of direct to consumer loans and the other of point of sale loans;...
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FintechUSANews Roundup
·Feb. 8, 2018

Attractiveness of Point of Sale Financing

 Recent research shows that younger consumers are uncomfortable with carrying credit card balances; consumers are more comfortable with products like personal loans that are more transparent and easier to understand; there has been an increased interest in point of sale financing; one company driving this trend is GreenSky which partners with banks to fund loans; the proportion of consumer loans going to point of sale financing has increased significantly at banks that partner with GreenSky including Regions, Synovus and Fifth Third. Source

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News RoundupUSAOnline Lending
·Apr. 25, 2017

Kroll Assigns Ratings for Avant Loans Funding Trust 2017-A

Kroll Bond Rating Agency has assigned ratings for Avant's most recent securitization deal; the portfolio includes three tranches of consumer notes valued at $192.6 million; ratings for each of the three tranches are included in the chart above and range from A- to BB. Source

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News RoundupEuropeOnline Lending
·Apr. 13, 2017

UK Lender Lending Works Announces Milestone

UK consumer lender Lending Works has lent over GBP50 million ($62.68 million) to UK consumers, also reporting over 10,000 clients; the firm's success has been helped by the launch of its innovative finance individual savings account which reported investments of approximately GBP1.5 million ($1.88 million) in the first 24 hours and has accumulated investments of over GBP8.8 million ($11.04 million) since February 2017; the firm's chief executive says it expects to reach originations of GBP100 million ($125.36 million) very soon; business growth is also expected to be helped by a new loan offering partnership with Revolut. Source

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