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The company is coming off of a recent period of performance improvements, with gains in net income, cash and cash equivalents.
November 16 -
Since the end of the Small Business Administration's 2022 fiscal year, the average loan size in its flagship program has dropped more than six figures. The addition of three new nondepository lenders could further drive down this figure.
November 13 -
The Cincinnati-based bank, which purchased a solar lender last year, is facing an investigation from 17 state attorneys general over the acquired company's lending practices and contractor network. One solar panel installer has gone bankrupt and faced complaints across the country.
November 9 -
Consumers under the age of 50 held $9.5 trillion in debt last quarter compared with $9.3 trillion in the second quarter. The increase was the most since the final quarter of 2022.
November 9 -
The company missed revenue projections, and it's trying to tap other funding strategies amid a "difficult lending environment."
November 8 -
The deal also includes exchangeable notes, initial over-collateralization of 1.00%—that can build to a target of 100%, and a reserve account funded at about 1.50% of the pre-funded pool balance.
November 8 -
The San Carlos, California, consumer lender said it's "exploring strategic options" for its credit card portfolio, discontinuing its investment and retirement products and sunsetting a partnership with Sezzle in addition to embarking on a new round of job cuts.
November 7 -
As U.S. credit card balances continue to march above $1 trillion, the number of newly delinquent credit card users now exceeds the pre-pandemic average and millennials and those with student or auto loans are driving the increase in past-due payments, the New York Fed said.
November 7 -
The withdrawal of pandemic housing relief and high home prices have heightened consumer strain, according to nonprofit Money Management International.
November 6 -
In one of the deal's positive credit attributes, none of the underlying loans in the collateral have terms longer than 72 months. Such longer-term loans have historically performed worse than shorter-term loans.
November 3