PYMNTS

DECEMBER 10, 2016

Two years ago today, Lending Club was ringing the bell on an IPO that one early investor called “a no-brainer.”. Lending Club’s model does not need bank branches on each street corner, and it can turn around in minutes and hours, not days. “I So what went so right for LendingClub two years ago today at its IPO — and then so wrong?

Lending 100

Lending Compliance Capital Marketing 100

PYMNTS

AUGUST 8, 2017

7) that it charged twelve people with money laundering millions of dollars in credit card charges via fraudulent merchant accounts. According a FTC press release, the defendants set up an operation known as Money Now Funding (MNF) to get and maintain merchant accounts that let it process credit card charges close to $6 million.

Cards 112

Cards Fraud America Lending 112

PYMNTS

JULY 18, 2016

Lending Club continued to prove there is almost always more to the story, American Express announced a surprise collaboration with Airbnb and PayPal pushed harder into B2B payments. Lending Club’s Latest Bad News. The last several weeks of news for Lending Club suggest that there’s a little of both to be had here.

Lending 100

Lending Payments Metro Cards 100

PYMNTS

NOVEMBER 20, 2018

In the year between Q2 2017 and Q2 2018, sub-prime consumer loan originations grew 28 percent between Q2 2017 and Q2 2018 across the categories of auto loans, mortgage loans and credit cards. In some areas, the growth in sub-prime lending matches overall growth in the segment, with credit cards and personal loans as the best example.

Lending 188

Lending Trends Cards Capital 188

PYMNTS

OCTOBER 8, 2019

When Affirm launched in February 2013, the point-of-sale (POS) financing marketplace in the U.S. In the last 12 months alone Square , Mastercard , PayPal and Chase have all rolled out POS installment lending products or enhancements as the market continues to pick up popularity among consumers, particularly younger ones.

Lending 159

Lending Cards Apple Google 159

PYMNTS

AUGUST 14, 2017

Wells Fargo is facing a fresh lawsuit contending the bank’s Merchant Services Unit overcharged small businesses for the payment processing of their credit card transactions. He said during his employment from 2011 to 2013, it was nearly impossible for business owners to get out of their merchant agreement.

Cards 155

Cards Lending Meeting Report 155

PYMNTS

NOVEMBER 16, 2017

According to news from Reuters , Wells Fargo ’s Shrewsberry said that banks are being competitive in getting consumers to use their credit cards but that easy access to credit hasn’t led to meaningful credit card defaults yet. That’s probably at the margin where excess leverage will show up.

Conference 134

Conference Cards Lending Report 134

South State Correspondent

AUGUST 16, 2023

Home equity lines of credit (HELOCs) and bank card usage are up 24% and 17%, respectively. We are seeing the lowest origination totals since 2013. Consumer Credit – Cards There is a shift of capital occurring to the prime tiers of cardholders. The number of cards in the wallet is almost a full card at just shy of 3.

Trends 195

Trends Cards Capital Data 195

PYMNTS

OCTOBER 17, 2019

The outage has been going on for the last 24 hours, taking down the company’s website and app, as well as shutting down customers’ debit cards. San Francisco-based Chime launched in 2013, offering debit cards, savings accounts and checking accounts to consumers without any fees.

Digital Banking 107

Digital Banking San Francisco Leadership Cards 107

PYMNTS

DECEMBER 9, 2020

Developing a quick, seamless and secure onboarding process for financial institutions (FIs), lending startups and other financial services providers has long posed its trials. The process involves capturing a user’s live photo to compare alongside an official document, such as an Aadhaar card, which bears a unique, 12-digit ID number.

Video 175

Video Capital Lending Security 175

PYMNTS

AUGUST 11, 2017

PayPal has been offering short-term loans to its smaller merchants via Working Capital since 2013, when it began as a “skunk works” project to see how merchants might respond. What should have been a compelling story for a lender is a little too outside the mold, so a loan wasn’t in the cards. And they did.

Lending 117

Lending Capital Video Online 117

PYMNTS

MARCH 5, 2019

Chime said proceeds from the funding will go toward growing the business and launching additional lending and credit products. Chime launched in 2013, offering debit cards, savings accounts and checking accounts to consumers without any fees. Last month, Bloomberg reported Chime was in talks to raise $300 million at a $1.5

Capital 116

Capital San Francisco FDIC Leadership 116

PYMNTS

SEPTEMBER 21, 2018

The unit handles the bank’s corporate lending, M&A advisory services and capital raising operations. It has fallen from the number-two spot in the industry, which it held between 2010 and 2013. The bank’s current Asia-Pacific President Matthew Koder is slated to replace Meissner, according to reports.

America 135

America Samsung Mobile Operations 135

PYMNTS

MAY 29, 2019

billion in 2018, up from under $1 billion in 2013. Over the last year, we’ve worked aggressively to grow SoFi from a desktop lending business to a broad-based, mobile-first financial platform enabling members to borrow, save, spend, invest and protect their money,” said Anthony Noto, CEO of SoFi. percent annual percentage yield.

San Francisco 116

San Francisco Capital Millennials cryptocurrency 116

PYMNTS

NOVEMBER 30, 2018

LendingTree said in its debt report for the month of November that based on recent holiday shopping and credit card spending, credit card balances will swell by about 5 percent through the end of the year to more than $1 trillion. That would mean that the $4 trillion level of debt is approaching for U.S. consumers, said the report.

US 129

US Cards Course Report 129

CFPB Monitor

NOVEMBER 30, 2020

During the same period, the share of retail revolving and credit card loans with actual payment information significantly declined. For credit cards, the share of credit card tradelines containing actual payment data declined from 88 percent in 2013 to 40 percent in 2020.

Report 78

Report Data Payments Guidelines 78

PYMNTS

MARCH 11, 2020

Welcome to the unchartered territory for the lending landscape – at least for those who were born and came of age in the new Millennium, in the digital age…. Alt Lending Too. The FinTechs take in capital, the capital makes loans, which, though well above benchmark rates, is below credit card rates. and post the Great Recession.

Digital Banking 130

Digital Banking Lending Capital Fintech 130

CFPB Monitor

MARCH 10, 2017

The CFPB has issued another request for information about the credit card market that identifies significant new issues of CFPB interest. The request is intended to inform the CFPB’s biennial review of the credit card market mandated by the CARD Act. Secured credit cards. On April 13, 2017, from 12 p.m. to 1 p.m.

Cards 68

Cards Comparison Trends Marketing 68

PYMNTS

APRIL 30, 2018

Marketplace lending. The blockchain can even end world poverty and transform society by making it safer for total strangers to lend each other money — without any third-party intermediary — and without any risk. Marketplace Lending. Blockchain. Digital banks. Blockchain. Take the blockchain.

Fintech 183

Fintech blockchain Lending Digital Banking 183

PYMNTS

NOVEMBER 21, 2017

This marks a downward trend that has continued since the start of the survey in 2013. According to news from Reuters , Shrewsberry said that banks are being competitive in getting consumers to use their credit cards, but that easy access to credit hasn’t led to meaningful credit card defaults yet. percent as of October.

New York 100

New York Survey Conference Lending 100

Bank Innovation

JUNE 29, 2016

Square Cash was launched by Square in 2013 for P2P payments. Is Citigroup going to partner with Square to offer the startup’s peer-to-peer payments service to Citi customers? That’s the implication from a recently published article in Fortune. The service is available in the U.S., and for both personal or Read More.

Payments 186

Payments Marketing Cards Innovation 186

FICO

OCTOBER 19, 2022

FICO recently released its second set of FICO® Resilience Index benchmarking reports, revealing interesting insights and trends about lending portfolio resilience over time. In contrast, both new and existing borrowers in 2013 had historically low sensitivity levels, following years of conservative post-recession lending and borrowing.

Lending 52

Lending Industry Trends Management 52

Gonzobanker

OCTOBER 12, 2022

Much as Ally does with its car lending, Nubank optimizes a single use case to acquire customers – and then cross sells. Founded in 2013, Nubank boasts no maintenance fees and offers free and unlimited transfers and a higher interest rate than a regular savings account. Don’t Look Back in Anger.

Fintech 97

Fintech United States Chicago Mobile 97

PYMNTS

JUNE 3, 2016

In an interview with PYMNTS, VantageScore SVP of Research, Product Management and Analytics, Sarah Davies, noted that credit scores change all the time , and that it’s crucial for card issuers and other lenders to be cognizant of what drives those swings. How would you lend – if you knew that those scores were going to deteriorate?”. “How

Study 100

Study Lending Cards Analytics 100

PYMNTS

APRIL 4, 2019

The trend began to reverse in 2013 and household debt began to grow, albeit at a much slower rate that it had in the early aughts. The trend, according to the report, is visible in most major debt categories — particularly home and credit card lending. They make up 10.7 percent of household debt respectively.

US 116

US New York Trends United States 116

Fintech Labs Insights

APRIL 12, 2024

Innovations from 1995 to 2014 (with launch dates) Note: Ranking as of Jan 2014 Wells Fargo is first in the world to offer Web-statement access (launched May 1995) Security First Network Bank launches first full-service Internet bank brand (Oct 1995, disbanded 2002) PayPal launches first online optimized payment system (Nov 1999, bought by eBay in 2003) (..)

Innovation 15

Innovation Fintech Online Mobile 15

CFPB Monitor

JULY 25, 2016

The CFPB describes its supervisory work and highlights enforcement actions involving credit cards, mortgage servicing, mortgage discrimination, RESPA, mortgage modification scams, auto finance, checking accounts, payday and installment loans, debt collection, student lending, debt relief services, consumer reporting, and wireless cramming.

Resources 60

Resources Cards Lending Tools 60

CB Insights

FEBRUARY 13, 2018

The bank acquired the team behind credit card startup Final in Jan’18, and it is rumored to be in talks with personal finance management app Clarity Money. Since 2013, 80% of the top 50 banks by total assets operating in the US have not acquired a fintech startup. With that said, this trend is beginning to change.

Fintech 68

Fintech Trends Strategy US 68

PYMNTS

AUGUST 27, 2018

Credit card debt made it over the $1 trillion mark in 2017, making it the third non-mortgage lending category to have surpassed the ten-digit mark in measuring consumer debt. According to the Financial Times , the good news is that delinquent credit card debt, overall, remains low. In fact, at 3.4

Data 103

Data Cards Millennials Groups 103

PYMNTS

MAY 23, 2017

The decline in debt between 2008 and 2013 was an aberration from what had been a 63-year upward trend reflecting the depth, duration and aftermath of the Great Recession. And the shift in mortgage lending mirrors a shift in the lending picture in general when it comes to who holds the majority of U.S. household debt.

Millennials 108

Millennials Lending New York Trends 108

PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. lending marketplace. Attorney Alex Tse. “We The Response.

Lending 135

Lending Fraud Management San Francisco 135

South State Correspondent

MAY 1, 2024

The tactic worked – in 2013, Gentle Monster’s oversized glasses were used to portray the main character of a huge Korean drama show. While many brands direct message celebrities wanting exposure and get ignored, Gentle Monster went after centers of influence (COIs) as a side door.

Innovation 195

Innovation social media Branding Marketing 195

PYMNTS

MARCH 27, 2018

Debt collectors have been the second-leading major generator of consumer complaints since the Consumer Financial Protection Bureau (CFPB) added them as an area that consumers could log complaints against in June 2013. percent related to prepaid cards and 2 percent to payday lending.

Cards 120

Cards Regulation United States Leadership 120

PYMNTS

OCTOBER 13, 2016

Kabbage is a data and technology platform that enables real-time lending. which was added in 2013. “We The goal of all that money is, of course, to lend to small business owners. It’s evolved its product list to include the ‘Kabbage Card’ and ‘Karrot Personal Loans.’. To date, the business has provided over $2.5

Regulation 100

Regulation Lending US FDIC 100

CFPB Monitor

JULY 29, 2022

The action is notable in that it is the first time the FTC has brought an action under the Military Lending Act (“MLA”). On July 20, 2022, the Federal Trade Commission (“FTC”) and 18 state attorneys general led by New York Attorney General Letitia James announced that they have entered into a settlement with Harris Originals of NY, Inc.

National 78

National Retail Regulation New York 78

Fintech Labs Insights

JANUARY 21, 2022

June ’21 round. Checkout.com. Jan ’22 round. July ’21 round. August ’21 exit to Square. Aug ’21 round. FTX Exchange. Oct ’21 round. South Korea. Infrastructure. Jan ’22 round. Mar ’21 SPAC (proposed). Dec ’19 round. Wise ( TransferWise ). Aug ’21 round. Payroll/SMB. Oscar Health. Oscar Health. Mar ’21 IPO pricing. July ’21 SPAC (proposed).

Fintech 15

Fintech Lending Payments Security 15

CFPB Monitor

MAY 23, 2016

The Spring 2016 agenda also does not reflect the CFPB’s announcement that it will hold a field hearing on small dollar lending in Kansas City, Missouri on June 2, 2016. The CFPB issued a June 2013 white paper and a July 2014 report on checking account overdraft services. Small business lending data. Overdrafts.

Kansas City 84

Kansas City Lending Missouri Kansas 84