Community banks have found it increasingly hard to fight the growing fraud problem as they are unable to build their...
US legislators have proposed that student loan debt be discharged in the case of bankruptcy; the current law gives added protection to student loan lenders by requiring the debt to be repaid in bankruptcy; lawmakers and lobbyists are also considering other provisions that would provide debt relief to student loan borrowers who have filed for bankruptcy; while the debt relief initiatives will benefit borrowers, the effects will add increased default risk for investors in private student loans and private student loan securitizations. Source
The company formerly known as Patch is now called Noah after a rebranding this year; it was founded by Sahil...
While most big banks are reluctant to enter into the crypto space, many smaller banks are capitalizing on the opportunity;...
Almost 4 million people will soon be receiving their stimulus checks via a prepaid card issue by MetaBank; the program...
Massachusetts lender Radius Financial Group has begun experimenting with an all paperless mortgage in recent months as they look to become more efficient in this technological age; the process includes DocMagic, the MERS loan registry, Fannie Mae and Santander Bank; so far they've been able to complete six applications; the savings seen are significant, $200 a loan and on average nine to 13 days by using an e-warehouse line as compared to the traditional warehouse line. Source
During this time of crisis, with tens of millions of people losing their job in the past three months, LendIt...
The move by Goldman Sachs into retail banking with Marcus has been a big shift for the bank and thus far has paid off; speaking to CNBC Goldman Sachs CEO Lloyd Blankfein talked about their move to consumer lending, their expansion of digital banking with Marcus and the focus on developing in house technology. Source.
We are living in times of extremes, particularly when it comes to economic data, and this is reflected in the...
As stock market volatility increased the trading app Robinhood saw deposits jump 20 percent; "We saw a large spike in transaction volume and trading activity on the platform today," a spokesperson told Business Insider. "Retail investors deposited 20% more funds into their Robinhood accounts today than they did on Friday.”; this is a trend the company has seen before, in late 2016 the Dow dropped 8 percent because of issues in Asia and the app saw their biggest net deposits ever. Source.