So, how does a firm evaluate credit when dealing with a population without access to standard credit monitoring or mainstream banking products that tend to help build credit? For an emerging number of Silicon Valley firms, the answer is increasingly a simply question: How do...
Tyro Payments has just landed $72 million in new funding from Tiger Global, TDM Asset Management and Atlassian Cofounder Mike Cannon-Brookes to continue its quest to disrupt traditional banking down under. Tyro specializes in debit and credit payments and currently processes POS payments for 14,000 Australian...
So, what does a federal watchdog — say the CFPB — do when it wants to crack down on discrimination in lending but knows that the legitimacy of its methods for doing so will be roundly questioned? Well, it seems, in the CFPB’s case, the winning...
Americans are often portrayed as a fairly litigious group of people – so much so that the term “lawsuit millionaire” is pretty well-established. Most prominently featured in comedy movies, the “lawsuit millionaire” is typically portrayed as an essentially likable oaf that literally bumbled his way...
According to official Anjan Mukherjee, the U.S. Treasury Department is in the early phases of an analysis of the online lending industry, sometimes called alt-lending. This follows a July 2015 request for information, which has yielded hundreds of responses, according to Mukherjee. “Just because we...
When it comes to securing loans, wealthy Americans are blowing their middle and lower class counterparts away. Boosted underwriting standards brought on by the financial crisis (itself brought on by profligate lending) has seen wealthy Americans holding more of the nation’s mortgage, credit card and...
MasterCard Labs’ first innovation event in Kenya has come away with some agricultural ideas. Having launched MasterCard Labs for Financial Inclusion — an initiative that MasterCard stated was designed to impact the lives of more than 100 million people around the world “by developing practical and...
The CFPB found itself in the middle of another brouhaha last week, this time over allegations by a government watchdog group that congressmen who’ve tried to scale back its hold over payday lending must have been paid bribes by payday lenders. Their rationale is that...
After some months of questions surrounding Lending Club’s future on the public markets and what it might mean for other high-profile startups as they enter the IPO orbit, the alternative lending powerhouse has delivered a surprisingly profitable performance in Q3. Lending Club clocked $950,000 in...
