While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. By definition, a pawnbroker offers loans on items that are not accepted as collateral by traditional banks or lenders. Items that typically...
The New York State Department of Financial Services (NYDFS) has announced it will lead a multi-state investigation into alleged violations of state regulations of the short term lending industry, specifically in the area of payroll advances. On Tuesday (August 6), Financial Services Superintendent Linda Lacewell...
Plaid’s core business is centered on helping make it easy for developers get up and running with financial apps. That mostly until this point has been focused on areas like basic accounts (savings and checking) and, more recently, investments. But, as the U.S. faces $1.6...
Karla Ogaro was a certified pharmacist in the Philippines before emigrating to Canada. Mohammed Aly, also an immigrant to Canada, was a dentist who ran a clinic that served over 2,000 patients in his native city of Cairo, Egypt. Josie Scapa worked as a nurse on two continents...
February 06, 2018
According to the Small Business Administration, of the 28 million U.S. SMBs, roughly 2.5 million, or 9.1 percent, are owned by veterans of the United States Armed Forces. Those firms, according to the same SBA report, had an annual payroll of $195 billion, receipts of $1.14 trillion. And, because vet-owned firms employ about five people each, they are responsible for creating 12.5 million jobs. […]
January 02, 2018
2017 was a tough year for some of the biggest names in alternative financial services in the U.S. – Prosper, OnDeck and LendingClub, in particular. Among investors – both those...
October 17, 2017
Despite the fact that they are currently being hotly pursued by technologists, the Industrial Loan Charter (ILC) is not exactly a new idea. The concept – originally called a Morris loan –...
August 29, 2017
The final payday lending rules are coming, but reporting by The Wall Street Journal over the weekend suggests that they may not take quite the toll on the lending industry as once thought. The Consumer Financial...
August 08, 2019
The New York State Department of Financial Services (NYDFS) has announced it will lead a multi-state investigation into alleged violations of state regulations of the short term lending industry, specifically in the area of payroll advances. On Tuesday (August 6), Financial Services Superintendent Linda Lacewell formally announced that she, along with banking regulators from nine […]
July 18, 2019
Plaid’s core business is centered on helping make it easy for developers get up and running with financial apps. That mostly until this point has been focused on areas like...
January 16, 2018
Victory Park Capital — a Chicago-based investment firm — is a key player in the alternative financial services movement, providing debt capital for a string of familiar names in online...
January 17, 2017
When asked, a majority of Americans can still remember what their SAT score was 20 years ago, despite the fact that SAT scores become precisely useless once one has been...
