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SoFi-Social Capital Merger Will Fuel Growth Of One-Stop-Shop Financial Supermarket

PYMNTS

7) that it was merging with publicly-traded Social Capital in an $8.6 The SoFi deal marks at least the third such transaction done by the Social Capital SPAC, Palihapitiya said in a televised interview on CNBC, adding that the deal was driven by the fact that banking infrastructure isn't currently meeting the needs of U.S.

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Steal This 5-Step Banking Innovation Playbook from Gentle Monster

South State Correspondent

Gentle Monster Background Founded in 2011 by Kim, Gentle Monster initially struggled to break through against large brands like Luxottica which controls an estimated 30% of the US market, and is behind almost every single designer eyeglass brand you can think of, including Ray-Ban, Oakley, Armani, Ralph Lauren, Chanel, Prada and many more.

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Ex-Barclays Head Is Acquitted In Fraud Trial

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Varley was accused by the Serious Fraud Office (SFO), along with three colleagues, of false representation over covertly paid fees to get backing for a capital raise to help the bank stay out of government control. He left in 2011. In other Barclays news , the bank recently divested its portfolio of physical prepaid cards in the U.K.,

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The Wealth Effect and Other, Opposite Effects

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In one recent estimate that ran in Investor’s Business Daily , Mark Zandi of Moody’s estimated that a “wealth effect” of five percent – which means that Americans spend five additional cents for every positive dollar change in the wealth generated via the stock market. percent, the highest level also since 2011. .

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BJ?s Plans To Issue 37.5M Shares In IPO

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The warehouse club retailer also said that it plans for each share to be issued in a range between $15 to $17, leading to a market cap topping $2.15 When private equity partners Leonard Green & Partners and CVC Capital Partners took the company private in September 2011, the deal was worth almost $3 billion.

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Why The Goldman-Amazon Bet On SMB Lending Is No Sure Thing

PYMNTS

And in leveraging Amazon’s scale as a platform — with millions of small to medium-sized businesses (SMBs) and even micro-sized businesses hawking pretty much everything under the sun — it might seem a “slam dunk” if, say, a financial industry powerhouse were looking to bring small business loans to a new market. The Challenge.

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Is It Officially Time To Start Worrying About Consumer Credit?

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Add to that the diminished value of used cars — down about 8 percent this year — and auto lenders like Ally Financial are predicting a market that will be contracting this year. Card Weakness. Capital One reported a write-off rate of 5.1 percent, its highest level since 2011. trillion in loans currently outstanding.