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John Moore/Getty Banks are scaling back on lending to Americans with the lowest credit scores, according to a study from TransUnion. Lenders processed fewer new personal loans, auto loans, and credit cards for subprime borrowers year-on-year in Q2 for the first time since 2012. Lenders tightened their standards after the housing crisis a decade ago following […]
WHEN the financial crisis was at its height in 2008, being a debtor was a dreadful experience. Banks and companies scrambled desperately to get the financing they needed. But the balance of power in the financial markets can easily shift. In 2005 and 2006, credit had been easy to get on generous terms. Not only […]
Wikimedia Commons Goldman Sachs launched Marcus, an online lending business for customers seeking loans of $ 30,000 or less, in October 2016. It was a departure from what Goldman Sachs is best known for, namely, wealth management, trading, and investment banking. And the business has already hit a $ 1 billion milestone, according to Goldman […]
Bank lending to consumers and businesses is slowing down. As of last week, commercial and industrial lending had not increased since September 7, the first six-month period of declines since the aftermath of the financial crisis, Bank of America Merrill Lynch said. Consumer-loan growth has also slowed, up by 1.4% since the November election versus […]
Commercial real estate lending by banks, insurance companies and other financial institutions is declining as sales activity slows and regulators voice concern about the sector. WSJ.com: What’s News US
IN MAY 2013 Gloria James borrowed $ 200 from Loan Till Payday, a lender near her home in Wilmington, Delaware. Rather than take out a one- or two-month loan for a $ 100 fee, as she had done several times before, she was offered a one-year loan that would set her back $ 1,620 in […]
Getty/Peter-Macdiarmid APRA, Australia’s banking regulator, has announced further measures to control building financial risks in the Australian property market, confirming months of speculation that an intervention was imminent. “Since December 2014, APRA, together with Council of Financial Regulator members, has closely monitored residential mortgage lending trends and the resulting impacts on the resilience of lenders, […]
SoFi, an online marketplace for lenders and borrowers, announced today that it is currently raising an additional $ 500 million. The round is being led by private equity firm Silver Lake Partners. The San Francisco-based fintech company initially began offering student loans when it was founded in 2011. It has since expanded to include services like personal […]
Tony Webster/Flickr Roughly half of the $ 90 billion worth of commercial mortgages left over from the 2007 lending boom won’t be easy to refinance when they mature, exposing the winners and losers of the real estate recovery. Banks sold a record $ 250 billion worth of commercial mortgage-backed securities to institutional investors in 2007. […]
