America’s Community Reinvestment Act is sensitive, but still up for revision
Tag: lending
Rules on bank lending in poor neighbourhoods are being rethought
THE document is dry, dusted with references to “benchmarks”, “performance evaluation” and “a metric-based framework”. But the 25 pages published on August 28th by the Office of the Comptroller of the Currency (OCC), one of America’s federal bank regulators, may start a protracted dispute over lenders’ obligations to poor neighbourhoods and hence to racial minorities. […]
Tech startups are reviving point-of-sale lending
AMERICANS shopping for a mattress online may find the selection at Casper, a New York-based mattress startup, somewhat lacking. Unlike brick-and-mortar shops, which offer dozens of models, the startup sells just three. And yet Casper’s customers are spoiled for choice at the till. Those who cannot afford to pay with a debit or credit card, […]
Inlock launches blockchain-powered lending for cryptocurrency holders
EXCLUSIVE: One of the most prevalent blockchain use cases is the application of distributed ledger technology, and the associated tokens created through ICOs and token-generation events, to the world of finance. Inlock today announced the global launch of its platform that matches licensed lenders with borrowers. Basically, Inlock pairs those with…Read More
Property UK: Lending data points to the best February in a decade for UK home movers
GETTY – STOCK The property market had a buoyant February Today’s data suggests that mortgage lending for first time buyers, home movers and those remortgaging in February this year increased on the previous year and reached the highest level for February since 2007. There was a discernible growth in the numbers of first time buyers […]
Emmanuel Macron is lending the UK a famous piece of Franco-British history in a grand diplomatic gesture
Getty Images Emmanuel Macron reportedly approved the loan of the 11th-century Bayeux Tapestry to Britain. The artifact depicts the Norman Conquest of Britain in 1066. Macron made the gesture ahead of a major meeting with Theresa May. The French President has a penchant for grand gifts on the world stage. Britain will be loaned a […]
Goodbye, George Bailey: Decline of Rural Lending Crimps Small-Town Business
Banks are closing branches and paring credit in rural America, focusing instead on booming urban markets. That leaves communities without the friendly faces of finance that once sustained them, and worsens an already tough economic environment. WSJ.com: What’s News US
Timelier provisions may make banks’ profits and lending choppier
IN THE first quarter of 2018 thousands of banks will look a little less profitable. A new international accounting standard, IFRS 9, will oblige lenders in more than 120 countries, including the European Union’s members, to increase provisions for credit losses. In America, which has its own standard-setter, IFRS 9 will not be applied—but by […]
Morgan Stanley is making a boatload of cash lending money to rich people — and it’s just getting started (MS)
Yuri Gripas/Reuters Morgan Stanley’s wealth-management business produced record revenue in the third quarter. Most of its clients are very wealthy — its CEO says 98% of assets come from people with more than $ 100,000 at the bank. A growing opportunity is to lend these rich people, who often have illiquid assets like real estate […]
Mortgage rates WARNING: Landlords urged to remortgage before lending criteria tightens
The call comes as the proportion of buy-to-let remortgage transactions, as a share of the total lending market, has risen over the last few months, and as a diminishing demand for new buy to let loans has driven many lenders to slash mortgage rates. The National Landlords Association (NLA) says the rise in remortgages is […]
