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Cleveland Fed Pulls P2P Lending Report for ‘Revision’ Over Questions on Data

Bank Innovation

The Federal Reserve Bank of Cleveland has taken a report on P2P lending offline due to questions regarding the report’s underlying data.

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5 Questions With… KeyBank Consumer and Digital CIO Kim Snipes

BankInovation

The Cleveland-based bank had a digitally driven calendar year, partnering with Laurel Road for an online lending platform in March 2021 and acquiring payments fintech XUP Payments in November 2021. Technology investment at KeyBank is nothing if not dynamic.

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Key looks to offload risk in deal with Blackstone

American Banker

The Cleveland-based regional bank is shedding credit risk in a partnership with the private equity giant Blackstone. It's the latest tie-up between asset managers and regional banks that are looking to free up balance-sheet capacity.

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New Study Suggests Online Lenders Target Vulnerable Consumers

PYMNTS

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.

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Rocket Trims IPO By 39 Pct From $3.3B To $2B After Investors Reject Valuation

PYMNTS

Rocket Companies, the parent of mortgage lending giant Quicken Loans , reduced its terms to go public, Bloomberg reported. Gilbert, owner of the Cleveland Cavaliers and founder of Quicken Loans will retain 79 percent of the voting power of the company’s common stock through controlling entities, the SEC filing shows.

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Growing a mortgage portfolio: Encourage borrowers to bank local

Abrigo

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. • Cleveland, Ohio – First Federal Savings and Loan Association ($955 million). banks and credit unions. Blog Bank'

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KeyCorp set to roll out digital bank for doctors

American Banker

The Cleveland company will launch the service in March to broaden relationships its Laurel Road student loan refinancing unit has built with health care professionals.