Moody’s said in its latest reading of the “pulse of the consumer” that in viewing the charge-off rate, growth had slowed among the largest U.S. banks to 10 basis points in the third quarter. That was better than the 18-basis-point increase seen year over year...
HSBC Holdings announced that it is teaming up with online lender Avant to offer unsecured loans to consumers. In the first half of 2019, HSBC’s U.S. arm will utilize Avant’s platform to offer personal loans as high as $30,000 with terms up to five years....
OnDeck Capital has created a unit that will provide technology and services for banks lending to small businesses over the internet. Reuters, citing the company, reported the new company will be called ODX and will expand its business, in which it provides lending software to...
The number of peer-to-peer lenders in China is projected to decline greatly to around 50 from more than 1,500 during the course of the next year. The Financial Times, citing Greg Gibb — chief executive of Lufax, one of the biggest peer-to-peer lenders in China...
Mortgage rates reached a high that hasn’t been seen in longer than seven years when they inched up close to 5 percent on Wednesday (Oct. 11), reported The Wall Street Journal. According to the report – which cited data from Freddie Mac, the mortgage finance...
Goldman Sachs might be reining in its online lending platform due to concerns about the stage of the credit cycle and changes in market data. Bloomberg cited sources that claim the company’s Marcus unit has slashed its loan originations target for next year. The news comes...
With interest rates rising, auto lenders are reigning in their 0 percent financing deals that have become the norm over the past few years. According to a report in The Wall Street Journal (WSJ), while cheap financing breathed new life into the auto industry in the U.S.,...
Avant is best known among its financial services peers as a FinTech firm, founded to throw automation and an artificial intelligence (AI)-enhanced underwriting process at the problem of creating accessible, affordable personal loans for consumers. Since its founding in 2012, the firm has specifically distinguished...
Last week brought a confluence of economic headlines that are slated to hit the consumer right where it hurts: the wallet – and perhaps the sentiment/propensity to open those wallets. No doubt you know by now that the Federal Reserve voted to boost the federal...
