The Consumer Financial Protection Bureau (CFPB) has ordered online lender Enova International to pay a $15 million penalty, banned it from offering certain consumer loans and required it to tie executive compensation to its compliance with federal consumer financial protection laws. The penalty comes after...
Enova International struck a deal to combine its ODX operation with origination solutions company Fundation. Enova will keep a minority share in the new combined company, according to a Thursday (Feb. 25) announcement. “This transaction creates the largest independent SaaS provider to banks for small...
OnDeck, an Enova International brand, has collaborated with HomeAdvisor to help businesses and tradespeople on the HomeAdvisor platform to access financing, according to a Monday (Feb. 22) announcement. “Through this partnership, HomeAdvisor professionals will have timely access to OnDeck’s suite of small business financing options,...
Digital lending platform Enova International reported Thursday (Feb. 4) that total revenue dropped 24 percent from the fourth quarter of 2019 to Q4 2020. However, the financial services firm reported that total company originations in Q4 surged by over three times from the previous quarter...
July 18, 2017
It used to be that small businesses needing loans could wait weeks or months for a decision from the provider, with pre-qualification steps taking up a huge chunk of the time – and after all that, there was no guarantee that the provider would find them creditworthy. Today, artificial intelligence can do a lot of […]
April 23, 2024
Online lender Enova International reported growing lending volume and solid credit performance for the first quarter. During the quarter ended March 31, Enova’s combined loans and finance receivables increased 23% year over year, reaching a record $3.5 billion. Total company originations for the quarter totaled $1.4 billion, according to the press release. Small and medium-sized business (SMB) products […]
November 15, 2023
The Consumer Financial Protection Bureau (CFPB) has ordered online lender Enova International to pay a $15 million penalty, banned it from offering certain consumer loans and required it to tie...
February 04, 2021
Digital lending platform Enova International reported Thursday (Feb. 4) that total revenue dropped 24 percent from the fourth quarter of 2019 to Q4 2020. However, the financial services firm reported...
June 06, 2018
Payday lenders are now offering an array of new financing products that are sending their stocks soaring. According to Bloomberg, Enova International Inc. shares have more than doubled so far...
