The Consumer Financial Protection Bureau (CFPB) has released guidance for lenders who utilize artificial intelligence (AI) and complex models in their credit decision-making processes. The guidance emphasizes the need...
When student loans resume this fall, many borrowers will send payments to new providers. Roughly 44% of federal student loan borrowers will have a new...
OneMain Financial, a nonbank personal loan installment lender, has been slapped with $20 million in redress and penalties by the Consumer Financial Protection Bureau (CFPB)...
Federal banking regulators support using alternative methods to assess creditworthiness to help high-risk people get loans, The Wall Street Journal (WSJ) reported on Tuesday (Dec....
Drafting, applying and being approved for loans can be complicated and drawn out processes for consumers and business owners alike. Borrowers must often complete hefty...
To broaden access to responsible credit with additional models, LendingClub has announced the rollout of its Select Plus Platform. The offering opens the company’s marketplace...
More than a year after Prospa delayed its initial public offering (IPO) plans, the Australian alternative lender is once again gearing up to go public —...
U.S. companies are far behind companies in Europe when it comes to issuing sustainability-linked loans, reported Reuters. According to a report in Reuters, new global...
A proposed law aims to completely overhaul the student loan system by having monthly bills automatically deducted from borrowers’ paychecks. According to CNBC, Senator Lamar...