Personal Loan News

28
Aug
Some Employers Offering Payday Loan Alternatives

It is becoming more common for employers to grant cash-strapped employees emergency early access to their paychecks. Whether it’s a medical emergency, car accident, or some other unexpected cost, many Americans are financially unprepared.Even in today’s strong economy, many Americans continue living paycheck to paycheck and 40 percent don’t have $400 to pay for

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08
Aug
Study Shows the Worst States for Payday Loan Borrowers

A recent study revealed the average payday loan interest rate in each state and how expensive it is to borrow there.Payday loans often carry interest charges 20 times greater than the average credit card, but it hasn’t stopped Americans from using them. And depending on the state, some will charge you more interest than others.The […]

Posted in: Personal Loan News,
18
Jun
Subprime Borrowers Aren’t the Only Ones Using Payday Loans

A recent report developed by FactorTrust found that not all payday loan borrowers have subpar credit scores.Because of the high interest rates charged for payday loans, many experts believe borrowers who opt to go this route have no other option. Maybe these lenders are the only ones willing to take a gamble on these borrowers.This […]

Posted in: Personal Loan News,
24
May
Many Nevada Payday Lenders Get a Failing Grade in New Report

A new report found that many payday lenders in Nevada did not receive a satisfactory rating. Consumers who are considering getting payday loans in Nevada might want to read the fine print carefully. Almost one-third of payday lenders, check cashing, and title loan services didn’t receive a satisfactory rating in a recent Nevada state audit of […]

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24
Apr
Upstart CEO Dave Girouard Talks Machine Learning, Artificial Intelligence, and Personal Loans

I recently had the chance to interview the CEO and Co-Founder of an interesting and successful company known as Upstart. Upstart made a name for itself over the last 6 years as a personal loan lender. How exactly did it do this? Upstart implemented an artificial intelligence (AI) and machine learning (ML) algorithm that could underwrite credit […]

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19
Apr
Q&A: Renaud Laplanche on Starting Upgrade and Offering New Credit Products to Consumers

One of the biggest names in the fintech space participated in our most recent Q&A feature. Renaud Laplanche, the co-founder of Lending Club and more recently Upgrade, answered questions about what it's like to be an entrepreneur several times in a competitive space. Read on if you want to pick the brain of an established […]

Posted in: Personal Loan News,
17
Apr
Upgrade Personal Credit Line Merges Credit Cards With Personal Loans

Upgrade recently introduced its Personal Credit Line product, which will allow consumers to draw from it when needed. A new consumer lending product will hit the market soon, and users may find it brings the best of a combined world: a credit card and a personal loan.Earlier this month, online lender Upgrade introduced its Personal Credit […]

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16
Apr
CFO Usama Ashraf Talks Borrowing and Investing with Prosper

Recently, I had the privilege to pick the brain of the Chief Financial Officer (CFO) of an industry leading company in the fintech space. Usama Ashraf is the CFO of Prosper, the first peer-to-peer platform in the US that connects people who want to borrow with individuals and institutions that are looking to invest in consumer […]

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12
Apr
Payday Lenders Sue the CFPB Over Consumer Protection Rule

Payday loan lenders have filed a lawsuit against the Consumer Financial Protection Bureau regarding a new rule. The payday lending industry has filed a lawsuit against the Consumer Financial Protection Bureau (CFPB) alleging a new rule could potentially end things for them.Community Financial Services Association of America (CFSA), the main trade association for payda

Posted in: Personal Loan News,
05
Apr
Marlette Funding Welcomes a New Advisor with a Focus on Innovation

Marlette Funding recently appointed Marshall Lux as an advisor to the company's board of directors. Marlette Funding, LLC, recently appointed Marshall Lux as an advisor to its board of directors and company. Marlette Funding is the parent company of Best Egg, which is a lending platform that offers unsecured personal loans.What Lux Will Bring to MarletteJeffrey [&hell

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