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Widening Borrower Protection’s Scope To SMBs

PYMNTS

As online lending platforms proliferate among the SMB borrowing community, however, experts warn that a lack of regulation means these companies rarely publicly reveal interest rates and fees. “We have seen small businesses destroyed by online lending.” ” Knowing Their Options. . ” Knowing Their Options.

Lending 136
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P2P lending makes it to main street?

Celent Banking

In this same line, Banco Galicia in Argentina has a very interesting offering – Galicia MOVE – aimed to college students based on a totally digital proposition, underpinned by the use of digital channels and a targeted marketing strategy. Banks are certainly not playing hide and seek with P2P lending. Change or die.

Maine 100
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Building your growth plan: Key metrics to consider - Part 4

Abrigo

At the same time, early adopters of new technologies, like mega banks, are edging out community banks and credit unions in the fight for customers and creating a rapidly consolidating industry. For community banks and credit unions that want to continue to thrive, the way forward is growth.

Software 150
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Federal Reserve warns about redlining and steering risks from digital targeted advertising

CFPB Monitor

Unfortunately, this is an area where there is very little regulatory guidance or commentary, leaving financial institutions with the task of making guesses and judgment calls about how to use ad targeting effectively, and in a way that minimizes fair lending risks.

Lending 130
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DOJ announces major new initiative targeting redlining; DOJ/CFPB/OCC settle redlining lawsuit against Mississippi-based national bank

CFPB Monitor

The Biden Administration’s prioritization of fair lending as a law enforcement focus took center stage last week with the announcement that the U.S. Attorneys’ Offices “as force multipliers to ensure that fair lending enforcement is informed by local expertise on housing markets and the credit needs of local communities of color.”.

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Navigating the Loan Landscape: A Guide to Small Business Financing

Ublocal

SBA loans offer a variety of benefits, such as more flexible lending terms, and they can be a gateway to obtaining conventional financing in the future. Below is a list of the core requirements: Must be an operating business, organized for profit Located in the U.S. and primarily operating in the U.S. Pay taxes to the U.S.

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Bankers Are Navigating a Brave New World with Mergers and ESG

Gonzobanker

After 30 years of ongoing consolidation, banks have built machine-like merger and acquisition (M&A) deal-making and integration capabilities, but they would be unwise to think of ESG as just another diligence, approval, and operational “box” to check. This focus can never be viewed as PR or window-dressing.