PYMNTS
MAY 4, 2018
Virginia is suing one of the largest online lenders in the U.S. According to the lawsuit, NetCredit provided loans to over 47,000 Virginians going back to 2012. In the newspaper’s story, Attorney General Mark Herring advocated for stronger laws to “protect Virginians from predatory loans, whether issued online or in person.”.
PYMNTS
JANUARY 2, 2019
The P2P lending market in China has been rife with scams and controversy for some time now. Bloomberg, citing people with knowledge of the matter, noted that Chinese authorities are gearing up to shut down small and medium-sized P2P lending platforms across the country. trillion yuan by the end of 2017, reported Bloomberg.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
PYMNTS
NOVEMBER 13, 2017
The Federal Reserve Bank of Cleveland issued new research on the online lending market showing that borrowers end up in more debt than consumers who don’t utilize this method of borrowing. The researchers used data from TransUnion for the study, pinpointing 90,000 borrowers who took out online loans from 2007 to 2012.
PYMNTS
OCTOBER 2, 2018
Since its founding in 2012, the firm has specifically distinguished itself in a crowded field of tech-based underwriters, with its focus on the consumer group it calls the “underbanked middle class.”. Avant’s consumer-facing product is devised as a digital alternative to that market.
PYMNTS
NOVEMBER 27, 2018
Yet, the small business lending gap remains. In a new report, PayNet and financial research firm Raddon examined the state of small business lending in the U.S. On the upside, researchers found small businesses’ demand for loans is at its highest level since 2012. For banks, the reason often comes down to profits.
PYMNTS
OCTOBER 23, 2017
Affirm was founded by Max Levchin in 2012 to help to remedy that merchant-consumer relationship by giving online shoppers an alternative to traditional credit cards and retailer-branded installment loans when shopping online. There’s a lot we want to do besides lending,” said Chou.
PYMNTS
APRIL 20, 2016
As the nation waits and drama builds over expected new guidelines from the Consumer Financial Protection Bureau on short-term lending, the government watchdog has issued a new report that indicates that the high cost of payday loans is even higher than most people think. Of that half, about a third face account closures as an outcome.
Expert insights. Personalized for you.
108 
Let's personalize your content