The companies collecting Americans’ student loans, auto loans and medical payments have some work to do. That’s according to a report issued Tuesday (July 2) by the Consumer Financial Protection Bureau (CFPB), which found numerous failures in student and auto loan servicing, deceptive and abusive debt collection practices, and...
Yendo, a FinTech offering a credit card tied to users’ car equity, is $165 million richer. The company announced the new funding — $150 in debt financing, $15 million in equity — Thursday (May 16), saying it would use it to fuel the growth of originations on...
Banks are seeing a slide in demand for loans — at the same time that they’re tightening lending standards. And the pressures, as noted in the most recent Federal Reserve survey of loan officers through the “Senior Loan Officer Opinion Survey on Bank Lending Practices,”...
Equipment finance company Odessa has entered the auto industry. The company has launched an originations platform called Odessa Auto and plans to grow it into a full-service end-to-end auto finance suite, Odessa said in a Wednesday (April 24) press release. “Odessa’s deep asset finance experience enables the company to offer...
February 06, 2024
The pressures of increased debt burdens are put in stark relief with the latest data from the central bank. And the burden is felt keenly among younger consumers, and lower-income households — which means the pinch is keenly felt within the paycheck-to-paycheck economy. To that end, the Federal Reserve Bank of New York’s Center for […]
January 04, 2024
Mobile wallets have gained immense popularity among consumers, not only for making in-store purchases but also for their ability to manage finances and store sensitive personal information. According to a...
December 29, 2023
Credit unions (CUs) have long been a reliable source for credit products such as credit cards, mortgages, auto loans and personal loans. However, with the rise of non-bank and non-CU...
February 20, 2019
LendingClub shares sank on guidance that missed the Street, but management said fourth quarter lending activity was strong across personal and auto loans, even as the macro environment moving forward...
July 17, 2024
Ally Financial reported Wednesday (July 17) that its net charge-offs (NCOs) in the second quarter rose in comparison to the same quarter a year earlier, due in part to losses from loans made when the price of cars peaked about two years ago. While its net charge-offs of $435 million were up from $399 million […]
July 02, 2024
The companies collecting Americans’ student loans, auto loans and medical payments have some work to do. That’s according to a report issued Tuesday (July 2) by the Consumer Financial Protection Bureau (CFPB), which found...
May 16, 2024
Yendo, a FinTech offering a credit card tied to users’ car equity, is $165 million richer. The company announced the new funding — $150 in debt financing, $15 million in equity —...
April 24, 2024
Equipment finance company Odessa has entered the auto industry. The company has launched an originations platform called Odessa Auto and plans to grow it into a full-service end-to-end auto finance suite, Odessa said in...
