FinTech startup Foro has debuted a commercial lending platform designed to match lenders and businesses. “For most small to midsize businesses, finding any commercial lending partner — much less one that’s a good fit for their capital needs — is time-consuming and complicated, driven by an...
The Biden Administration has proposed an income-driven repayment plan designed to ease student loan debt. The proposed regulations, announced Tuesday (Jan. 10) would amend the terms of the Revised Pay As You Earn (REPAYE) plan to offer $0 monthly payments for borrowers who make less...
Wall Street and banks are reportedly growing concerned about car buyers’ debt load. Bloomberg reported Friday (Jan. 6) that the size of outstanding auto loans — which rose from $1.44 trillion in the third quarter of 2021 to $1.52 trillion in the same quarter in...
Personal loan app Pigeon wants to remove the awkwardness of lending money to loved ones. “There is often guilt, shame, and fear associated with helping friends and loved ones with money, and that shouldn’t be the case,” founder Brian Bristol said in a news release...
Subprime auto lender Credit Acceptance Corp. is being accused of “setting borrowers up to fail.” The Consumer Financial Protection Bureau (CFPB) and the New York State Office of the Attorney General said in a Wednesday (Jan. 4) press release that they are suing the firm...
The U.K.’s largest mortgage lenders have agreed on measures to help struggling borrowers. The new measures follow a meeting between the chancellor, Jeremy Hunt, and representatives of the country’s major mortgage lenders earlier this month. In that meeting, Barclays, HSBC, Lloyds, Nationwide, NatWest Group, Santander...
The syndicated loan market has ballooned the past few decades, but technology has lagged, badly. Syndicated loans represent a $5 trillion corner of finance, and $1.4 trillion of that is traded annually through private instruments widely used for financing in corporate America. The loans themselves...
Versana has launched an industry-backed syndicated loan platform. By digitally capturing agent banks’ deal data on a real-time basis, this centralized solution connects banks, institutional lenders and their service providers and provides transparency, efficiency and velocity, Versana said in the Tuesday (Dec. 13) press release....
Some Eurozone banks reportedly may have trouble paying back the European Central Bank (ECB). Banks are now repaying loans from the ECB’s Targeted Longer-Term Refinancing Operations (TLTRO) because the central bank raised the borrowing costs. Still, they may find it more difficult to raise funds in the...
