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Category: Credit


Capital and Risk, Credit

Apple partners Santander’s Zinia for BNPL financing services in Germany

June 11, 2024

Via: FinTech Futures

The partnership will enable Apple’s customers in the country to access a range of financing options, including split payments of up to 36 months, or deferred payments of up to 30 days, when purchasing goods through its physical or online […]


Capital and Risk, Credit

KKR Weighs Entering Private Credit in Japan to Challenge Banks

June 3, 2024

Via: Insurance Journal

KKR & Co. is considering entering the private credit market in Japan to provide an alternative to bank loans. “It will be a medium to long-term initiative,” Hiro Hirano, the head of KKR Japan said in an interview. “I think […]


Activity, Capital and Risk, Credit, Retail Banking

Barclays reportedly leading the race to take over GM credit card programme from Goldman Sachs

May 1, 2024

Via: FinTech Futures

A report by The Wall Street Journal this week says Barclays is the leading contender in the race to take over the programme, which specifically serves purchasers and owners of General Motors vehicles. Barclays previously went head-to-head with Goldman Sachs […]


Capital and Risk, Credit, Operational

Myanmar’s KBZ Bank taps FinbotsAI for credit risk management solution

April 16, 2024

Via: FinTech Futures

As part of the deal, KBZ Bank will deploy the fintech’s credit modelling platform, CreditX, to “assess the creditworthiness of applicants across retail and SME products with higher accuracy and efficiency”. The AI-powered platform enables “real-time, paperless loan assessment” and […]


Capital and Risk, Credit, Regulations

FTC fines fintechs Biz2Credit, Womply $59M over PPP actions

March 19, 2024

Via: Banking Dive

Two fintechs, Biz2Credit and Womply, agreed to pay a collective $59 million to settle allegations they deceived small businesses seeking Paycheck Protection Program loans during the COVID-19 pandemic, the Federal Trade Commission said Monday. Biz2Credit and its subsidiary, Itria Ventures, […]


Capital and Risk, Credit, Regulations

CFPB to cap credit card late fees at $8 and increase accountability among issuers

March 8, 2024

Via: FinTech Futures

The ruling has lowered the charge from its previous figure of $32, in a move that the regulator hopes will save account holders more than $14 billion a year while axing what it describes as business models founded on “penalties, […]


Capital and Risk, Credit

Blackstone buys $1.1bn of US credit card debt from Barclays

February 28, 2024

Via: FinTech Futures

The deal with see the bank transfer the debt from its branded credit card programme in the US to Blackstone’s credit and insurance segments, which were consolidated last September. Barclays says the transaction is part of a move to release […]


Capital and Risk, Credit

Commerce Bank taps Temenos for loan origination solution

February 22, 2024

Via: FinTech Futures

Temenos, which has recently been forced to refute allegations made by Hindenburg Research of client dissatisfaction and accounting irregularities, claims its Infinity system will provide the US private bank with increased operational efficiency and personalised customer experiences. Commerce says it […]


Capital and Risk, Credit

Neon Money Club launches dating app for those with good credit

February 21, 2024

Via: Banking Dive

On Valentine’s Day, fintech Neon Money Club launched an app to help financially like-minded people find love. Potential suitors will find one unusual hurdle prior to swiping right, though: They must have at least a 675 credit score. The app, […]


Activity, Capital and Risk, Credit, Retail Banking

US Bank partners Pagaya Technologies for inclusive lending with AI

February 16, 2024

Via: FinTech Futures

The partnership will see the bank adopt its partner’s embedded lending technology and credit intelligence network to induce a “second review” of a loan application should the applicant fail to meet its traditional lending requirements the first time around. A […]


Capital and Risk, Credit

2023 Year in Review: Credit Reporting

February 15, 2024

Via: JD Supra

The CFPB’s announcement of a proposed rulemaking to remove medical bills from consumers’ credit reports, as well as the special focus placed on medical debt in its annual report, indicates that reporting medical debt will continue to be a priority. […]


Capital and Risk, Credit

Credit unions should expect increased supervision from NCUA on overdraft/NSF fees, vendor risk, and fair lending

February 9, 2024

Via: JD Supra

On February 6, 2024, National Credit Union Administration (NCUA) Chairman Todd M. Harper spoke at a Brookings Institution event to outline his regulatory agenda and supervisory priorities for 2024. His prepared remarks addressed the 90th Anniversary of the Federal Credit […]


Activity, Capital and Risk, Corporate Banking, Credit

SellersFi, Amazon team up to offer up to $10M in credit lines

January 31, 2024

Via: Banking Dive

SellersFi, a global e-commerce financing and financial services company, is partnering with Amazon Lending to offer eligible sellers credit lines of up to $10 million, the companies announced Tuesday. CEO and co-founder Ricardo Pero said the credit lines are targeting […]


Capital and Risk, Credit

BNPL lender Sunbit secures $310m debt facility with Citi and Ares Management Credit

January 31, 2024

Via: FinTech Futures

The facility builds upon a previous $250 million debt facility the fintech landed with Credit Suisse and Waterfall Asset Management in December 2022. Founded in 2016 and based in Los Angeles, USA, Sunbit provides a buy now, pay later (BNPL) […]


Capital and Risk, Credit

Credit card delinquencies rise, especially for low-income earners

January 24, 2024

Via: Payments Dive

The Fed’s report documented the financial squeeze that creditors, especially low-income consumers, were experiencing in recent years, due to rent, auto and credit card payments. More than half of low-income (57%) and moderate-income (53%) consumers were rent-burdened in 2021, meaning […]


Capital and Risk, Credit

CFPB proposal would cut overdraft fees as low as $3

January 17, 2024

Via: Banking Dive

A rule proposed Wednesday by the Consumer Financial Protection Bureau could reduce — to between $3 and $14 — the overdraft fees charged by banks with more than $10 billion in assets. Under the proposed rule, banks would classify overdraft […]


Capital and Risk, Credit

CFPB issues annual report on college credit card agreements

December 27, 2023

Via: JD Supra

Last week, the CFPB released its twelfth annual report to Congress on college credit card agreements. The annual report is mandated by the CARD Act. The CARD Act requires mandatory reporting to the CFPB by card issuers on agreements with […]


Capital and Risk, Credit

CFPB Imposes Industry Ban on Medical Debt Collector

December 18, 2023

Via: JD Supra

On December 15, 2023, the CFPB announced a settlement with a medical debt collector to resolve allegations that it violated the Fair Credit Reporting Act (“FCRA”), its implementing Regulation V, the Fair Debt Collection Practices Act (“FDCPA”), and the Consumer […]


Capital and Risk, Credit

Who wants Apple’s credit card? Analysts weigh in.

December 1, 2023

Via: Payments Dive

As tech giant Apple winds down its partnership with investment bank Goldman Sachs, it will need to find a new card issuer to back its credit card. And given the size of the business, there’s a small pool of suitors, […]


Capital and Risk, Credit

U.S. Bank claims spot in the BNPL space

October 26, 2023

Via: Banking Dive

U.S. Bank stepped into the buy now, pay later space Tuesday with the launch of Avvance, a new point-of-sale lending product. Similar to other BNPL checkout experiences, an Avvance button will now pop up at checkout on the websites of […]