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CashCall, Courts And California’s Increasingly Confusing Lending Market

PYMNTS

According to reports in the LA Times , CashCall is no longer offering an online loan application on its website, and a call to customer services indicated that CashCall officially stepped out of the personal loans to consumer businesses about a month ago. At least, they did. The California Court Loss. There’s no bright line,” she said.

Lending 101
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Despite China’s Slowing Economy, Credit Demand Still Strong

PYMNTS

Chinese online finance giant Ant Financial, headed by billionaire Jack Ma, is seeing an uptick in the desire for credit among small and medium businesses despite the economic slowdown in China, Bloomberg reported on Thursday (Oct. Consumer and business lending crumbled last year, prompting regulators to lower the cost of borrowing.

Lending 101
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PayPal Sells Consumer Loans to Long-Time Partner Synchrony Financial

Bank Innovation

Synchrony Bank has been PayPal’s banking partner since 2004. Yesterday, the San Jose, Calif-based PayPal said it agreed to sell $5.8 billion in consumer credit receivables to Stamford, Conn-based Synchrony Bank, a unit of Synchrony Financial. In addition to selling its credit […].

San Jose 199
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Alibaba’s Ant Financial IPO Rumored For Late 2017

PYMNTS

Ant Financial, the $60 billion online financial extension from Alibaba, says it’s putting growth first by expanding its number of users from the current 450 million, by adding merchants and more customers into the mix. Alibaba launched Alipay in 2004, and later peeled off on its on accord ten years later.

Lending 100
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Fintech Hall of Fame: The Top Digital Innovations in Financial Services

Fintech Labs Insights

Long before fintech was a thing (1995), I launched the first, and by most measures the biggest, newsletter during the first two decades of online/digital banking. It was called Online Banking Report and was read by a sizable portion of major industry players. And each January, we ranked all previous recipients into a master list.

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Community Banks Embrace Faster Payments’ Competitive Edge

PYMNTS

has dropped from 8,000 in 2004 to about 5,400 in 2018. The Federal Reserve released a report last April, finding that community banks yield greater satisfaction with small business borrowers than any other kind of FI, even as satisfaction with online and marketplace lenders rises, too.

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Predicting the Next Banking Crisis Is a Fool’s Game. Not Learning From the Last One: Equally Foolish

Jeff For Banks

The old borrow short, lend long strategy. percent in 2004, a decline of 1.1 By comparison, non-high-tech industries lost 689,000 jobs between 2001 and 2002 but recovered the lost jobs by 2004. Who would’ve thought lending $1 million to a San Francisco cab driver to buy a house at 100% loan to value would go bad?

FDIC 78