Category: Credit

Capital and Risk, Credit, Regulations

PPP portal access to expand to small banks Friday, all lenders Tuesday

January 14, 2021

Via: Banking Dive

The gradual rollout was meant to give smaller institutions an early advantage in accessing the $284 billion shuttled to PPP through a coronavirus aid bill signed Dec. 27. But the timeline gives community banks and credit unions one business day […]

Capital and Risk, Credit

Do Payday Loan Lenders Check My Credit History?

January 7, 2021

Via: TechBullion

Payday loans are short-term loans that are great for emergency situations. They can provide up to $1,000 within one business day for those times you need quick cash. If you are looking to get a payday loan, you will probably […]

Activity, Capital and Risk, Credit, Insurance

AM Best Upgrades Credit Ratings of Members of Concord Group Insurance Companies

December 14, 2020

Via: Insurance Journal

AM Best has upgraded the financial strength rating (FSR) to A+ (superior) from A (excellent) and the long-term issuer credit ratings (long-term ICR) to “aa-” from “a+” for the members of Concord Group Insurance Companies, which is led by Concord […]

Activity, Capital and Risk, Corporate Banking, Credit

How Bank of America’s small-business strategy laid groundwork for PPP efforts

December 8, 2020

Via: Banking Dive

As lawmakers debate a new stimulus package, including the possibility of a new tranche of Paycheck Protection Program (PPP) funding, banks that delivered large volumes of PPP loans this year may find themselves better prepared for a third rollout. For […]

Capital and Risk, Credit, Products, Retail Banking

Capital One halts buy-now-pay-later credit card transactions

December 7, 2020

Via: Banking Dive

Buy-now-pay-later platforms have gained traction over the past decade, as startups such as Affirm, Afterpay and Klarna have appealed to millennial and Generation Z consumers with a model that allows them to pay for purchases in installments without the hefty […]

Capital and Risk, Credit

Recommendations for Banks Prepping for LIBOR Transitions, Updated Timelines

December 1, 2020

Via: Bank Director

While much of the focus this summer was on Covid-19, the decline in GDP and the fluctuating UE rates, some pockets of the market kept a different acronym in the mix of hot topics. Regulators, advisors and trade groups have […]

Capital and Risk, Channels, Credit

Google Expands Pay App With Bank Accounts and Debit Card

November 18, 2020

Via: TheStreet

Alphabet’s Google (GOOGL) – Get Report said it expanded its Google Pay app to enable users to open back accounts, pay friends and manage budgets. The updated application debuted Wednesday. Alphabet partnered with Citi (C) – Get Report and Stanford […]

Capital and Risk, Credit

New Survey Examines $1 Trillion Non-Bank Commercial Lending Market

November 17, 2020

Via: PR Newswire

Cerebro Capital, a commercial loan platform, today released its new quarterly survey on non-bank lending for middle-market commercial and industrial (C&I) loans. The results illustrate the perspectives of private credit lenders, also known as alternative lenders, or non-bank lending institutions. […]

Capital and Risk, Credit

Ripple introduces Line of Credit

October 8, 2020

Via: Finextra

Today, Ripple launched Line of Credit, a new beta service on RippleNet that allows customers using On-Demand Liquidity (ODL) to source capital on demand to initiate cross-border payments at scale using the digital asset XRP. Limited access to working capital […]

Capital and Risk, Credit

Bank of America wades into payday loans business

October 8, 2020

Via: Finextra

Bank of America today introduced Balance Assist, a revolutionary new solution that provides a low-cost way for clients to manage their short-term liquidity needs, borrowing only the amount they need, up to $500. Balance Assist is the latest offering in […]