Bank Innovation
JULY 12, 2018
Online lenders may own more than half of the personal lending market, but they face serious headwinds. For one thing, rising interest rates will increase their cost of funds, and perhaps make their offerings less attractive, and for another, regulations may arrive that make operating their businesses more expensive.
PYMNTS
DECEMBER 30, 2019
Small businesses continue to flock to online platforms to find much-needed financing, with banks still failing to fill the demand for small to medium-sized business (SMB) loans despite economic growth in the U.S. But the majority of online SMB lenders do not disclose publicly their fees and interest rates, reports warned.
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PYMNTS
JULY 27, 2018
watchdog in charge of investor oversight proposed tough new regulations regarding peer-to-peer (P2P) lending platforms, in a bid to help consumers wade through the new landscape, according to a report by Reuters. has also sought clarity on regulations as a means to better compete against established banks.
PYMNTS
JANUARY 11, 2021
Ant Group , Tencent and JD.com are facing a crackdown by Beijing over concerns of over-lending to consumers through their platforms, a major cash cow for the Chinese tech giants. They have heavily relied on Ant’s data to underwrite loans and manage risks,” one senior regulator told Reuters.
CFPB Monitor
MAY 16, 2022
The CFPB recently issued its annual fair lending report covering its fair lending activity in 2021. . Small business lending—assessing whether there are disparities in application, underwriting, and pricing processes, redlining, and whether there are weaknesses in fair lending-related compliance.
PYMNTS
JUNE 23, 2016
The online lending landscape may get rockier as federal regulators are eyeing whether to bolster their oversight on loans extended to small businesses. The focus of these lenders has been to extend capital to small businesses and startups, and those players have maintained that more regulations could hurt business.
PYMNTS
JULY 24, 2020
Online lenders will need the green light from the central bank to roll out new offerings or hike lending rates if the legislation is put into law, Quartz Africa reported. Online lending has brought about a number of complications in Kenya, with digital loans reportedly leading rising personal debt for users in the country.
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