The Bank of England decided to keep rates steady at 0.5 percent which will be a big benefit to P2P...
The Bank of England kept its central bank borrowing rate at 0.25% and decided to continue with its $86 billion asset purchase program; while no changes were made to monetary policy, the BOE changed its guidance; with an increased focus on inflation in the region, the BOE said it would be prepared to raise rates in order to keep inflation at its 2% target rate. Source
We asked the CEOs of several consumer lending fintech leaders three questions about what is in store for 2024.
[Update: Brendan Ross was arrested in August 2020 and Direct Lending Investments was placed into receivership. Court cases are ongoing...
How rising interest rates would affect marketplace lenders has been a question that many people have been asking for a long...
NY based Quontic Bank saw retail deposits grow by 261 percent to $200mn and their retail customer base double in...
Oportun is making some changes in response to the pandemic; they have decided to dismiss all pending collections cases as...
While the Fed kept interest rates steady at their meeting this month both Marcus and Ally Financial have decided to...
Customers are becoming more demanding as interest rates climb; the average interest rate paid by the biggest US Banks jumped to 0.40% in the third quarter; sophisticated customers are now reconsidering where they hold their cash accounts; Fifth Third is one bank that is raising rates for these types of customers; wealth management deposits have decreased at Bank of America, JP Morgan and Wells Fargo in the third quarter according to Autonomous Research. Source
[Update Feb 6, 2012: this promotion is now over. Lending Club will, of course, honor loans still on the platform...