Category: Credit

April 15, 2021

Not only did the coronavirus pandemic and economic contaction in 2020 change the way the banking industy identifies problem loans, it changed the way it approaches them. As 2020 unfolded, CLA continued to encourage institutions to evaluate policies and procedures, […]

April 8, 2021

“Business loan” is a term we know all too well after the pandemic. According to HudsonValley360, the Small Business Administration immediately announced up to $2 million in business loans in the wake up the crisis in March 2020, which snowballed […]

April 7, 2021

Called a credit union service organisation (CUSO), the new entity – dubbed Nymbus CUSO – will focus on connecting credit unions with fintech offerings. The core banking provider hopes the CUSO will generate new revenue streams for those credit unions […]

March 29, 2021

The firm, launched in 2016, provides loans of up to $25,000 to foreign nationals in the US at what it calls “better rates” than existing options. Stilt says it can get an update on loan applications within 24 hours. A […]

March 25, 2021

The pandemic has left millions of people needing credit at a time when lending standards are tightening. The result is a lose-lose situation: consumers receive a negative credit decline experience and financial institutions miss out on a lending opportunity. How […]

March 16, 2021

Durbin and Rep. Peter Welch, D-VT, sent a letter to the companies this month urging them not to increase fees. The merchants’ trade group Merchants Payments Coalition has also been pressing the credit card companies to hold off on a […]

February 26, 2021

This new facility includes $100 million from Silicon Valley Bank (SVB), and $26.6 million from Trinity Capital. It is Petal’s first asset-backed facility with SVB and Trinity Capital. The firm says it complements its existing $300 million facility with global […]

February 23, 2021

The Greek bank is also offloading 80% of its loan services provider Cepal Holdings. It is expecting to reduce Alpha’s non-performing exposure, and non-performing loans, to 24% and 13% respectively. Known as Galaxy, the portfolio sale is the second-largest securitisation […]

February 12, 2021

Credit Suisse Group AG agreed to pay $600 million to settle a lawsuit over mortgage securities that collapsed in the 2008 financial crisis, an accord that locks in an expected hit to its profit. The plaintiff, MBIA Insurance, said late […]

February 11, 2021

With over 250,000 new small businesses opening in the U.S. in 2019, it’s safe to say that we are experiencing a shift in commerce that is focused on independent contractors. Many workers are choosing to break away from global corporations […]