Online lenders’ struggle with fraud is driving them to join new networks designed to find links between fraudulent loan applications and signs of borrowers trying to obtain multiple loans simultaneously.
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Treasury, banking groups band together to fight cyberattacks
The federal Project Fortress initiative provides defensive tools for banks. Community banking groups and regulators' associations say small banks in particular need the free and accessible help.
Payments cards, credit monitoring: What’s next for installment lenders
A growing number of companies like Klarna, Sezzle and Circle let consumers split large purchases into smaller transactions paid over time. But they say they need to offer more than one product to set themselves apart and build customer loyalty.
VCs boost investment in Black- and Latinx-owned fintechs
More than 97% of venture backing goes go white-owned startups. Firms like Mendoza Ventures, Chingona Ventures and MaC Venture Capital are stepping in to support underserved entrepreneurs.
How Ally uses AI to approve auto loans
The digital-only bank has adopted machine learning to process loans faster, more accurately and with better fraud detection than in the past.
Why are complaints about credit bureaus soaring?
Some say Equifax, Experian and TransUnion are too slow to investigate grievances, prompting more complaints to the Consumer Financial Protection Bureau. But the big three say other forces are at work.
