According to the latest survey by the Federal Reserve, most U.S. banks are tightening their standards on every loan category as the country prepares for an economic hit amid pandemic. Due to the ongoing pandemic, banks are monitoring the behavior...
The Facebook-owned messaging application WhatsApp is eyeing a new loan service for India customers, as Amazon unveiled Pay Later for eligible customers in the region. According to WhatsApp’s memorandum of association (MoA) in regulatory filing for local entity last March,...
The United States Senate recently approved of the $480 billion cash influx to sustain the government, with approximately $349 billion allocated for the Paycheck Protection Program (PPP) geared towards helping small businesses. However, most of the funding has been...
Fintech companies like PayPal and Intuit QuickBooks are offering cash assistance to small business owners who were declined by traditional banks. The new avenue for loans guarantees faster processing and cash deposit to help businesses settle bills, pay employees,...
Amazon.com Inc. announced Wednesday, March 26, 2020, its decision to stop loan repayments from its sellers as the pandemic continues to affect businesses and sales, notes Reuters. Its Amazon Lending program would reportedly put payments on hold from Thursday,...
Open Financial Technologies, a fintech startup operating a neo-bank, has announced it will be shifting its focus on wealth management and lending despite COVID-19 pandemic In an interview with ET Tech, Anish Achuthan, Open’s Founder and CEO, said that the...
The Senate issued its final ruling on Wednesday, March 11, 2020, on the Student Loan Forgiveness Program. The initiative proposed by Education Secretary Betsy DeVos initially intended to limit the student debt relief extended to individuals misled by for-profit...
The State Bank of India (SBI) has lowered its benchmark lending, deposit, and savings rate on Wednesday, March 11, as the virus outbreak hit India’s economy. Starting March 10, most loans offered by SBI will have a rate of...
As Italy battles the coronavirus in the country, the government announced that it will be temporarily suspending mortgage payments. Apart from mortgage payments, lenders are also extending debt holidays to small businesses and families, reports CBS News. The announcement was...
British banker Metro Bank announced Monday, March 9, that it has entered into a partnership with Lending-as-a-Service (LaaS) provider Ezbob to deliver next-generation digital lending platform for small business customers. In a release, Metro Bank said that the new offering...

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