Two of the leading insurance companies in the US, State Farm and United Services Automobile Association (USAA), join forces in testing a blockchain-based solution aimed to automate the automobile insurance claims process. The two insurers signed a deal to use...
Grasshopper Bank, a newly established national bank, has completed private placement offering, according to a release by its parent bank holding company, Grasshopper Bancorp, Inc. The release also said that the bank had received all final regulatory approvals to...
News about the national interest rate of 36 per cent limit for a mortgage, car loans, payday loans and other consumer credit transactions are now being revived by Senator Dick Durbin. Durbin is reintroducing a bill called ‘Protecting Consumers From...
The National Privacy Commission of the Philippines is currently investigating complaints filed by borrowers of mobile lending apps, reports Rappler. Digital lenders allegedly ‘debt-shame’ borrowers who fail to pay their dues on time. The companies conduct the purported ‘debt-shaming’ by...
The Chinese regulators of the country have seized the Baoshang Bank. The China Banking and Insurance Regulatory Commission (CBIRC) will manage the firm for a year, starting from May 24, 2019. Reuters reports that the news follows the bank’s...
Deutsche Bank is considering cuts on its U.S. equities unit, including prime brokerage and equity derivatives, in a bid to restore the confidence of unhappy shareholders about the company's performance, according to some sources who requested for anonymity. The bank's...
The former chief executive officer of Federal Savings Bank, Stephen Calk, has been charged with a single count of bribery following accusations of lending millions of dollars in exchange for a position in the Trump administration. According to a report...
Britain’s biggest supermarket chain Tesco has recently announced its plans to stop mortgage lending. The company’s decision stems from having numerous competitors in the industry partnered with challenging market conditions. According to a report from Reuters, Tesco Bank is looking...
In a press release dated on May 20, 2019, Ellie Mae announced that its company is expecting to release a new Encompass Digital Lending Platform. According to the company, version 19.2 of their platform will target lenders and the...
More than 300 college seniors at Morehouse College in Georgia were left in awe after billionaire investor Robert F. Smith said in his commencement speech that he will pay off their student loans. In his speech, Smith said, “On behalf...

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