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Call It Alt-Credit Or POS Lending, ‘Buy Now, Pay Later’ Just Got Bigger

PYMNTS

That alternative method of paying for purchases “on credit” got a boost with news this week that Visa Installments , a new point-of-sale (POS) credit solution, is being rolled out in pilot markets across the U.S. This follows a pilot rollout in Russia last month. Silicon Valley FinTech Affirm is also a regular in the top 5 this year.

Lending 130
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CFPB announces settlement with payday and auto title loan lender to resolve alleged CFPA, FCRA, and TILA violations

CFPB Monitor

to resolve alleged violations by Cottonwood of the CFPA, FCRA, and TILA in the course of marketing, servicing, and collecting on payday, auto title, and unsecured consumer installment loans. The CFPB announced that it has entered into a settlement with Cottonwood Financial, Ltd., million and $286,675.64 in consumer redress.

Idaho 78
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Facing Tougher Times, Prosper Marketplace Is Making Deep Staff Cuts

PYMNTS

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. Changing market conditions (and some higher-than-expected default rates) have changed the math and softened investor interest some.

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Stripe Teardown: How The $35B Payments Company Plans To Supercharge Online Retail

CB Insights

Brothers Patrick and John Collison founded Stripe in 2010 in an attempt to gain share in online payments, a then-nascent market with seemingly boundless growth opportunity. Market opportunity. Business lending and corporate cards. Stripe is ramping up its private market investments. Expansion into emerging markets.

Online 98
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2021 GonzoBanker Awards

Gonzobanker

million gets the vaunted consumer lender a much-prized bank charter, low-cost deposits to juice current earnings, and a business lending capability to drive future growth. Rex Johnson, Baxter Credit Union founder and former CEO – Rex was a legend in the credit union industry who will always be remembered as the “Yoda” of lending.

Fintech 142
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THE 16TH ANNUAL GONZOBANKER AWARDS

Gonzobanker

Or the need to take market share in a slowest growth region? A wonderful franchise and team picked up by Guaranty in-market at a decent price. It’s time for banks to focus hard on marketing and the borrower experience. Best Free Market Research a Retail Banker Will Ever Get. Is it in the water? The take-away?

Utah 60
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THE 16TH ANNUAL GONZOBANKER AWARDS

Gonzobanker

Or the need to take market share in a slowest growth region? A wonderful franchise and team picked up by Guaranty in-market at a decent price. It’s time for banks to focus hard on marketing and the borrower experience. Best Free Market Research a Retail Banker Will Ever Get. Is it in the water? The take-away?

Utah 60