In November 2016 the New York Fed reported on an increase in subprime auto loan delinquencies putting the sector on watch; a report from Fitch Ratings is now showing continued deterioration in the sector during the second half of 2016 and Mizuho is reporting subprime auto loan loss rates increased to 9.1% in January 2017 from 7.9% in January 2016; Fitch reports that 60+ day subprime auto delinquencies increased to nearly 6% in the fourth quarter of 2016. Source

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Fintech News Roundup USA

·May. 18, 2018

Data Scientist is the Hottest Job in America Right Now

The demand for data scientists continues unabated across a broad swatch of industries including financial services. There is so much...

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Fintech USA

·Jul. 14, 2020

Data Sharing Lawsuit Against Plaid Could Shake Up the Market

Two California men have sued data aggregator Plaid alleging the company violated their data privacy; while the suit has yet...

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Fintech News Roundup USA

·Dec. 6, 2017

Data Sharing Presents Cybersecurity Concerns for Banks

Open banking is around the corner in the UK and recently the CFPB released guidelines on data sharing that has banks concerned about cybersecurity; Kathryn Petralia, chief operating officer of the online lender Kabbage believes banks and Fintechs should be held to the same standard regarding data; concerns over data include responsibility on data breaches, encryption and entry points for hackers; as data sharing becomes the norm both banks and fintechs will need to protect themselves at many levels. Source.

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Fintech USA

·Jul. 24, 2020