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
MAY 4, 2018
Virginia is suing one of the largest online lenders in the U.S. 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.”. after reportedly charging Virginians millions in interest and fees.
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BankInovation
MARCH 2, 2022
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.
PYMNTS
MARCH 5, 2016
The Federal Reserve published the findings of its research on small business lending habits in the U.S. But Federal Reserve Bank of Cleveland senior policy analyst Ann Marie Wiersch told Forbes in an interview that bank lending to small businesses is still struggling.
FICO
APRIL 5, 2017
Mid-market banks and credit unions traditionally lend to many small businesses. In fact, 75% of small businesses that are customers of small banks or credit unions are “highly satisfied” with their lending relationship, according to a survey at the Federal Reserve Bank of Cleveland. The post Afraid of Small Business Lending?
Celent Banking
OCTOBER 9, 2014
Suncorp in Australia has started the process of moving off its Hogan core by focusing on unsecured lending; its next stop will be secured lending. Horizontal slice. To be clear, KeyBank has not committed to a core transformation.
Abrigo
JANUARY 22, 2015
Over the first half of 2014, these banks, with an approval rate of just under 60 percent, beat out large national banks (31 percent), large regional banks (45 percent) and online lenders (38 percent). While the approval rates are high and portfolios are expanding, the OCC did point out that lending standards continued to soften.
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