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UK-Based Car Subscription Platform Drover Notches $25.7M In Funding

PYMNTS

Drover Founder and CEO Felix Leuschner said per the report, “Drover’s digital ‘cars-as-a-service’ model is the right approach to truly build the ‘Amazon of Cars’ as it lends itself much better to an online model than does the long-term commitment, high ticket size type transaction of buying a car with cash or on finance.”

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Payroll Fraud Could Cost KeyCorp $90M

PYMNTS

Regional banking firm KeyCorp disclosed a massive instance of fraud on Tuesday (July 16) that could potentially cost $90 million, according to a report by CNBC. The customer involved in the fraud is Interlogic Outsourcing, which processes payrolls and is based in Elkhart, Indiana. Shares fell on the news. KeyBank’s five-year, $16.5

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First Commonwealth in Pa. Hires Consumer Lending Leader

American Banker

First Commonwealth Financial in Indiana, Pa., has hired a former Regions Financial executive to lead several of its consumer lending groups.

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Midwest banks resist urge to loosen lending standards

American Banker

Even in the face of soft loan demand, banks in the region have held firm on terms. That should position them well for the next economic downturn.

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Why Banks Merge: Listen to the Sellers

Jeff For Banks

"Our combined financial institution will offer a wider array of products and services while continuing our long-standing personal commitment to our customers and community." - Gregory Schreacke, President of First Financial Service Corporation in Elizabethtown, KY on his bank''s sale to Community Bank Shares of Indiana, Inc. Our combination.

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June’s Top 12 Mobile Pay Moments

PYMNTS

On June 16, Samsung Pay arrived in Singapore, allowing users of Galaxy Note 5, S6 Edge+ and the S7/S7 Edge phones can use Samsung Pay in the region. Our research shows that marketplace lending is suffering from sluggish adoption because of either insufficient value to switch or a lack of trust in the financial services provider.”

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Auto lending up more than 30 percent at credit unions since 2012

Abrigo

And just as in mortgage lending , credit unions are seeing a bigger piece of the consumer loan pie. credit union auto lending portfolios are faring. Across the country used vehicle loans nearly doubled their new counterparts by lending volume. Regionally, the rocket-like momentum remains clear.

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