Wednesday, August 5, 2020
Newgen Software, Inc is Bank of the Bahamas’ (BOB) choice for automating retail lending and account opening, said PR Newswire. This move seeks to streamline the banking process through the software company’s automation platform. BOB decided to transition into automated...
Local microfinance institutions (MFIs) in Cambodia reportedly have “predatory practices.” A report by two of the top civil society groups thoroughly discussed exploitative policies and penalties, says Al Jazeera. Microfinance lending was seen as a way to assist low-income Cambodians....
While household debt is under control, Bank of America CEO Brian Moynihan said that corporate debt is still on a rough patch as the number continues to increase. According to Moynihan, big companies need to clean up their balance sheet...
The Department of Business Oversight or DBO released new rules on SME lending practices in the California state, giving borrowers protection from predatory practices. Last July 29, 2018, the Responsible Business Lending Coalition (RBLC) said in a press release that...
Climate change spurs a foreclosure crisis, which poses a threat to the mortgage industry, according to a mortgage expert. Extreme weather and other natural calamities are now occurring frequently. Ed Delgado, CEO of the Five Star, a national mortgage...
The South African lawmakers are pushing for the National Credit Amendment (NCA) Act, which seeks to assist thousands of residents with debts to relieve their financial situation, BusinessTech said. However, ENews Channel Africa (eNCA) noted that the so-called debt...
The existence of cryptocurrencies could result in the disappearance of lending services offered by traditional banks, said Sir Jon Cunliffe, the deputy governor of the Bank of England. Bitcoin News reported that Cunliffe believes that stablecoins and cryptocurrencies will...
The Securities and Exchange Commission (SEC) announced Monday, September 16, it has issued cease and desist orders against 19 online lending applications following unauthorized lending activities and various complaints involving invasion of privacy and harassment. According to a report from...
The considerable amount of student debt is becoming a burden to indebted college graduates, a new survey revealed. A survey by Merrill Lynch and Age Wave of over 2,700 U.S. adults from ages 18 to 34 revealed that on average,...
Lending institution Well Fargo & Co. has been ordered by the state of Philadelphia to pay $10 million in damages to address its discriminatory lending practices. The court ordered the San-Francisco-based lender to settle its lawsuit following accusations that...

RECENT POSTS