South State Correspondent
JANUARY 4, 2023
Because many banks are now producing below their cost of capital, growth further exacerbates their issues and drives them out of business (likely through a sale) faster. Without the windfall of profit accrued to banks in 2022 because of faster-than-expected rate increases, banks will need to be better allocators of capital.
PYMNTS
MAY 4, 2016
With the recent tightening of the capital markets, we are refocusing on our core consumer loans business,” he said. 40 million | What Prosper paid to acquire medical-lending firm American Healthcare Lending LLC and personal-finance startup Billguard Inc.
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PYMNTS
APRIL 16, 2019
Alternative small business lending platform Funding Options has criticized U.K. ” The regulator said it is also taking measures to target “phoenixism,” which involves a business owner’s attempt to use cash from a closing business as capital gains and not income tax, which is taxed at a higher rate.
PYMNTS
MAY 4, 2016
The biggest individual cut will be a Utah office dedicated to lending for medical procedures, but 14 percent of Prosper’s San Francisco- and Phoenix-based workforce is also on its way out the door. All in, 171 jobs will be cut. CEO Aaron Vermut will be forgoing his salary this year. Tonderys is being replaced by Brad Pennington.
Abrigo
JANUARY 15, 2015
In the spirit of the go local movement, new data from Sageworks Bank Information peeked in on 10 cities to see which community banks were making an impact on local mortgage lending. • Phoenix, Arizona – Arizona Bank & Trust ($102 million). Flagstar capitalizes on going local, too. banks and credit unions.
Gonzobanker
JANUARY 4, 2016
As bankers build bonds with peers through collaboration, they open up new opportunities to jointly invest capital in new ventures and strategies. Tackling the topic of digital signatures , CIOs developed a specific action plan for incorporating Docusign technology into the commercial lending process. 2016 GONZOBANKER ROUNDTABLES.
PYMNTS
OCTOBER 31, 2018
And yet the two companies that are tightening standards — Capital One and Discover — have noted that they are “more cautious” in how they dole out credit. Said Capital One CEO Richard Fairbank, “in so many ways, one can’t help but be struck by … just how good the economy [at] this point is. Unemployment, too, is at record lows.
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