Brazilian FinTech firms are reportedly grappling with a surge in loan defaults, leading to a crisis in the asset-backed credit market. The delinquency rates on unsecured loans offered by companies like Open Co, Nexoos and Gyra+ have exceeded 60%, prompting measures such as mergers, downsizing...
Online car retailer Carvana is tightening its lending standards in response to higher delinquency rates. The company is requiring higher down payments from customers and placing limits on maximum payments, Chief Financial Officer Mark Jenkins told Bloomberg News in a report posted Friday (March 1)....
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...
Rising delinquencies among subprime and near-prime borrowers reveal the strain of living paycheck to paycheck. In a spate of earnings reports these past few weeks, various lenders — banks and digital platforms among them — have spotlighted the fact that delinquencies and charge-offs are ramping...
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 […]
March 25, 2024
Brazilian FinTech firms are reportedly grappling with a surge in loan defaults, leading to a crisis in the asset-backed credit market. The delinquency rates on unsecured loans offered by companies like Open Co, Nexoos and Gyra+ have exceeded 60%, prompting measures such as mergers, downsizing expansion plans and asset sales, Bloomberg reported Monday (March 27). […]
March 01, 2024
Online car retailer Carvana is tightening its lending standards in response to higher delinquency rates. The company is requiring higher down payments from customers and placing limits on maximum payments,...
June 09, 2020
Trouble may be brewing in the key auto finance sector in the months ahead amid the economic fallout from the coronavirus, despite a drop in loan delinquency rates in the...
January 17, 2017
It was CAN Capital’s ambitious growth plans that led the alternative SME lender to eventually falter, according to a new report from The Wall Street Journal. The publication said Monday...
