PeerIQ's weekly update covers the recent partnership by Acorns and PayPal, household debt in the US and a new Bain survey that shows people are more willing to try fintech products; LendingClub filed its latest securitization deal for $330mn and Kroll upgraded all three classes of the Earnest EARN 2016-B deal; they also took a deep dive on TransUnions recently released fintech study. Source.
A story by American Banker highlights a potential legislation that will change how Americans pay for college; many people familiar with the Promoting Real Opportunity, Success and Prosperity through Education Reform Act believe it will benefit lenders and loan servicers. Source
Clearbanc has raised $1bn in capital to help fund startups; they provide a loan with a 6 percent interest rate...
In the Financial Health Network's recent report it was found economic conditions are "disproportionately" affecting vulnerable households.
Deciding to close the branches in late March was a pretty easy decision for banks as nothing was more paramount...
The volatility in the stock markets has put stock trading apps at the forefront of fintech in recent months; Robinhood...
Citing uncertainty in the broader economy, top fintech companies are cutting costs in an effort to appease investors.
Leading UK challenger bank, Revolut, is growing fast and now has around four million customers; they are adding new customers...
Pat White, founder of crypto enterprise startup Bitwave, said programmable money and its infrastructure will change trad institutions.
The Asian Banker has awarded CreditEase Wealth Management with its first Best Non-Bank Private Wealth Product award; the award was part of the Asian Banker's awards program which has been recognizing financial services companies for 16 years; voting was done by an advisory board using detailed criteria to identify the non-bank with the best solutions for meeting the needs of high net worth customers by matching their risk profiles and investment objectives; CreditEase's CEO Ning Tang said its wealth planners focus on cross-border, cross-regional portfolios with multi-asset classes for clients and that its Toumi RA robo advisor service was created to help clients evaluate and minimize risks with a scientific portfolio. Source