The rumors that have been flowing for many months have been confirmed. Leading fintech company, SoFi, has acquired naming rights to the new NFL stadium being built in Los Angeles. The stadium, opening in 2020, will be home for NFL teams the LA Rams and LA Chargers. The company announced the decision in a blog […]
Today’s News
- Credit Scoring Has Entered a New AgeThe traditional way a lender assesses credit risk is to look back at your borrowing history which is supposed to indicate how likely you are to repay a loan; the advent of technology enabled non-bank lenders after the financial crisis has started to upend that model; now lenders take all sorts of data into account […]
- FDIC And OCC Weigh in on Madden DecisionThe FDIC and OCC have together filed an amicus brief with a Colorado court criticizing the Madden decision by the Second Circuit in 2015; the brief was filed in Colorado in a bankruptcy case that involved a high interest small business loan that was originated by a bank in Wisconsin and then acquired by New […]
- Swedish Digital Bank Northmill Receives a Banking LicenseThere is a new digital bank in Europe today as Northmill has been granted a banking license from the Swedish Financial Supervisory Authority; Northmill applied for a banking license in 2017 and has been operating as a consumer credit institute and registered payment service provider; it also has a sizable insurance business with over 15,000 policyholders; […]
LATEST PODCASTS
Podcast 215: Nat Hoopes of the Marketplace Lending Association
For an industry to be taken seriously in Washington it needs a strong and vibrant trade association. The Marketplace Lending Association (MLA) was formed back in 2016 with LendingClub, Prosper and Funding Circle as its founding members. Our next guest on the Lend Academy Podcast is Nat Hoopes; he is the executive director of the […]
Podcast 214: Safwan Shah of PayActiv
Roughly half the US population lives paycheck to paycheck and throughout the year they often run out of money between these paychecks. So, they resort to payday loans or overdrafts and often pay late fees as well. This costs this population hundreds or even thousands of dollars per year. There is a better solution that […]
Podcast 213: Zac Prince of BlockFi
One of the things the last couple of years has taught us is that, while the value of cryptocurrencies can be exceeding volatile, they have staying power. While no one can predict the future price of bitcoin or other crypto they are becoming an asset class in their own right. As this niche industry matures […]