In this week’s PeerIQ Industry Update they look at the record levels of consumer debt, some regulatory changes, new securitizations and give an update on recent hirings; consumer credit is now at an all time high surpassing $1tn, though per capita levels remain below peak; the Trump administration is looking to revise the Community Reinvestment Act rules to include small business loans; Marlette’s newest securitization, MFT 2018-1, consists of loans originated by Cross River bank for over $390mn and it has received ratings from Kroll; PeerIQ also announced the hiring of 6 new employees as the company continues to grow. Source.
Consumer lenders Ally Financial and Synchrony Financial do not yet believe the current crisis will be as bad as the...
While most of the fintech world has been focused on small businesses since the onset of the crisis there is...
The Wall Street Journal is reporting on an interesting new trend with credit card holders; rather than racking up more...
A new study by J.D. Power shows only 4 percent of consumers switched banks accounts to a new institution last...
Consumer borrowing increased by $15.2 billion in February, according to a report from the Federal Reserve; credit card borrowing increased by $2.9 billion helping total credit card debt outstanding to increase to $1 trillion; auto loan and student loan borrowing also increased in February by $12.3 billion. Source
According to a survey by Cornerstone Advisors 8.2 percent of respondents said they will open a checking account with Marcus...
According to research from the Center for Responsible Lending in 2019 American consumers spent $11.7 billion in overdraft fees; the...
The contact us form is a staple of most websites but buy now pay later startup Afterpay never thought it...
In PeerIQ’s Weekly Industry Update they cover job growth numbers, the Fed’s planned rate rises and more fintech related stories that ended 2017; OneMain Financial received backing from Apollo Global Management and Värde Partners; GreenSky and MoneyLion completed fundraising’s; new regulation news coming out of Indiana that would cap the personal loan interest rates. Source.