JPMorgan’s Interbank Information Network (IIN) has already signed up more than 220 banks and now they plan to expand the...
On Aug. 30, Coromandel Capital, a secured lender and regular in the Fintech Nexus community, announced a $25-million deal with Nectar, an alternative cash flow provider for real estate and rental operators.
The Consumer Financial Protection Bureau (CFPB) has fined TransUnion and Equifax over $23.2 million for deceptively advertising services; the agencies reportedly advertised credit services costing customers over $200 as free and misled customers about the use of credit reports they obtained; according to the CFPB, TransUnion will pay $13.93 million to consumers and a $3 million fine while Equifax will pay $3.8 million to consumers and a $2.5 million fine. Source
Over 250 investors, entrepreneurs, bankers, and regulators attended the 2019 Fintech for Inclusion Summit to discuss how to expand access...
A new study by Commonbond shows that employers who offer student loan benefit programs are more likely to keep employees...
Upstart’s AI Lending Platform Expands to Auto Loans On Deposit Solutions’ launch in the U.S. with CEO Philipp von Girsewald...
Over the last year, banks and venture capitalists have poured tens of millions of dollars into technology to fight financial...
A consensus over the upcoming bitcoin split was not reached and the plan was cancelled; the hope was for a new version that could handle double the number of transactions; upon hearing the news bitcoin’s value shot up to over $7,800; the current version can only handle about five transactions per second and to compete with names like PayPal and Visa that will need to change at some point in the future. Source.
PeerIQ provides analysis of the recent OneMain securitization; the chart above compares the deal to other recent online lending securitizations; the deal closed at $947 million and it includes loans from Springleaf and OneMain which have merged under the OneMain brand. Source
Since launching in 2015, Sharestates, a real estate crowdfunding company, has crossed $275 million in originations across 323 loans; in December 2016 the company originated $42 million, nearly doubling total loan volume in just over three months; average net yield to investors has been 11%; Sharestates recently announced they were raising their Series A through SeedInvest; the company is currently profitable and was previously a finalist for PitchIt@LendIt. Source