The European Central Bank warned Tuesday (January 22) that eurozone banks are planning on tightening credit standards when it comes to business and housing loans during the first three months of the new year. According to a report in Reuters citing the European Central Bank’s quarterly...
Microlending – or small loans (less than a few hundred dollars) – has become a popular, buzzed-about method of poverty relief over the last few decades. As of 2013, there were 211 million micro-borrowers worldwide; as of 2018, that number was nearly 240 million. The...
As Friday (Jan. 11) came and went and government workers affected by the 21-day shutdown didn’t receive paychecks, U.S. banking regulators asked lenders to help workers who couldn’t pay their bills or needed credit in the meantime, according to a report from Reuters. “The agencies...
LendUp has announced it is scaling its credit card business as a stand-alone company, Mission Lane. The move was made possible through investment from LL Funds and Invus Opportunities, as well as participation by QED Investors. Vijesh Iyer, previously LendUp’s COO, has been named interim...
Largely hailed as safe alternatives to payday loan firms, credit unions in the U.K. are shuttering at the fastest tempo in years, amid fears that poorer customers might lose access to credit, according to a report by The Financial Times. Eight credit unions closed in 2018,...
Faced with a slowing economy and a trade dispute with the U.S., China’s central bank on Wednesday (Dec. 19) announced a new policy tool aimed at boosting lending to small and private companies. Reuters, citing the government of China’s website, reported that the country will...
Smaller banks around the country are feeling the pinch as rising interest rates keep earnings static on loans and customers want more interest on their deposits, according to a report from The Wall Street Journal. The Federal Reserve began raising interest rates about three years...
One of the largest banks in Spain, Banco Bilbao Vizcaya Argentaria (BBVA), has completed a $170 million (€150 million) loan with Porsche Holding using blockchain technology, according to a report. Although the bank has completed blockchain loans before, it’s never done it with a non-Spanish...
Thanks to low unemployment, growth in GDP and real disposable income, TransUnion forecasted that consumer credit originations and consumer balances will increase in 2019 for the lion’s share of credit products. At the same time, TransUnion said delinquency rates will likely decrease or remain flat,...
