Wednesday, Federal Reserve chair Jerome Powell announced the fed would raise interest a half a percent to combat post-pandemic inflation.
TransUnion added lending decision firms to its Strategic Alliance Distribution Partner Program, like the fintech Provenir and GDS Link.
The U.S. personal loan market has surged in the last 5 years to reach more than $138bn; one of the...
In their weekly update PeerIQ covers the Trump tax plan, the recent Transunion consumer lending report and marketplace lending securitization news; the Transunion report shows that fintech companies have originated 30 percent of unsecured consumer loans in 2016; Darien Rowayton Bank and SoFi filed securitization deals; PeerIQ also took a closer look at SoFi’s SCLP 2017-6 deal which was the largest on SoFi’s shelf so far. Source.
Reliable off-chain credit scoring on the blockchain provides better service and attracts participants to DeFi.
The Consumer Financial Protection Bureau (CFPB) has fined TransUnion and Equifax over $23.2 million for deceptively advertising services; the agencies reportedly advertised credit services costing customers over $200 as free and misled customers about the use of credit reports they obtained; according to the CFPB, TransUnion will pay $13.93 million to consumers and a $3 million fine while Equifax will pay $3.8 million to consumers and a $2.5 million fine. Source
Online lending data and analytics platform PeerIQ announced their latest offering, a consumer credit suite backed by TransUnion data; the suite includes TransUnion’s depersonalized consumer credit data from the year 2000 to present day; users of the suite can see credit trends, vintage analysis, benchmarking analysis and more. Source.
TransUnion’s innovation lab is entering its third year and is now planning to expand in Canada and India; participants get...
TransUnion's latest quarterly study found most Americans could be experiencing a 'personal recession' with 54% stating their incomes were not keeping up with inflation.
The fraud landscape is constantly changing and evolving with things like synthetic fraud increasing the costs consumers, businesses and governments are paying; synthetic identities are identities which are not tied to a real person; according to Pat Phelan from TransUnion, fraudulent transactions are currently costing the US $50 billion per year; Phelan talks with PYMNTS.com about some of the factors companies should consider when managing fraud and how businesses are managing fraud prevention programs overall. Source