U.S. Bank takes on fintechs with new online loans, card for small businesses
The bank seeks to answer the threat posed by disruptors with quick online loans and a card that rewards small businesses for more kinds of spending.
Small business lending
CFPB faces legal minefield in crafting rule on small-business loan data
The agency wants more information as it conducts fair-lending exams, but conflicting statutes make writing a data collection rule difficult.
Opinion Gov. Brown should veto California’s small-business lending bill
The legislation, which creates new disclosure standards for financing costs, could hamstring commercial lenders that offer revolving credit facilities.
D. Michael Monk
Commercial Finance Association
OnDeck reports record profit in 2Q, eyes second bank partnership
The online small-business lender was aided by loan growth, wider margins and stable credit trends. Its shares surged by 25% after second-quarter earnings were announced.
From overdraft to HMDA, rulemaking has new look at Mulvaney’s CFPB
Acting CFPB Director Mick Mulvaney has dropped agency plans to crack down on overdraft programs and large marketplace lenders. Here's what else he's changing.
Kabbage plan in Orchard deal: Expand offerings to banks, small businesses
Using Orchard’s data science smarts, Kabbage intends to offer new payment products to small businesses and loan portfolio insights to financial institution partners.
Online lenders adopt the model they sought to disrupt
As upstart companies mature, they face pressure to develop deeper relationships with their customers. That is leading some to offer to a wider range of products, including deposit accounts.
OnDeck Capital to replace its longtime finance chief
The online lender is hiring Kenneth Brause, a CIT Group executive, to succeed CFO Howard Katzenberg.
OnDeck swings to profit, eyes second bank partnership
The online small-business lender is enjoying a payoff from its year-old push to cut costs and tighten underwriting standards. It is also set to announce another lending agreement with a major bank this year, its CEO said Tuesday.
C&I loan standards ease as competition intensifies: Fed
Credit standards for commercial loans to medium and large firms showed some signs of easing over the last three months of 2017, even though demand stayed relatively unchanged.
Kabbage to further challenge banks with $250,000 credit lines
The online lender to small businesses is expanding its business deeper into traditional banks’ territory with larger loans.
Online lender with focus on veteran-owned businesses raises $23M
StreetShares seeks to tap into the loyalties of military veterans, bringing together borrowers and savers through an online platform.
Online lender Funding Circle inks partnership with Kansas bank
Intrust Bank has agreed to purchase $20 million worth of Funding Circle's small-business loans in what could just be the beginning of a long-term relationship.
Fintechs that flamed out or faded in 2017
Some were sold at discounted prices, while others were shut down by their acquirers or quietly ceased doing business.
How banks can beat digital lenders at their own game
Amid the rise of online lending earlier this decade, banks were derided as being too slow to adapt. But over time it's become clear that banks hold key advantages over lending startups.
Houston-area mortgages, auto loans expected to take big hits
Given the scale of damage to the region’s homes and cars, bankers are guarding against an expected spike in missed payments by extending loan terms, deferring payments and making other concessions.
Funding Circle lures financial officer from U.K.’s Auto Trader
The addition of Sean Glithero as CFO is one of several new hires by the online small-business lender.
By
Andy Peters
