News 

Alt Lender Fountainhead Secures SBA Loan License

“Small Business Administration (SBA) loans have found a new avenue through which they can reach small businesses” reports pymnts.com. A press release issued on Wednesday (Feb. 13) said that alternative lender Fountainhead Commercial Capital can now offer SBA loans through its platform after securing a Small Business Lending Company (SBLC) loan program license from American Business Lending.The recent government shutdown forced the Small Business Administration to stall its lending operations.The company noted that it has also received final approval from the SBA. According to Fountainhead, the SBA has only issued…

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News 

Tax Reform Shows Early Signs Of SMB Bank Lending Impact

“The tax reform also provided tax cuts to corporates, freeing up capital and lessening their demand for external financing” reports pymnts.com. However, the impact of the tax reform on the small business community is not clear, particularly so soon after the reform came into effect.JPMorgan announced a $20 billion package last year to increase small business lending by $4 billion, open new branches, increase home lending and more.While FIs vowed to use those savings for a variety of measures, such as increasing small business lending, reports said lending growth has…

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News 

Consumer Protection Bureau Aims to Roll Back Rules for Payday Lending

“The way payday loans work is that payday lenders typically offer small dollar loans to borrowers who promise to pay it back by their next paycheck” writes Daniella Cheslow for npr.org. It would also limit payday lenders to only two attempts to withdraw money from borrowers’ accounts, a move designed to target the fees that payday lenders charge.”We strongly urge Kathy Kraninger to reconsider her decision to weaken the payday lending rule and allow it to move forward as planned without delay.”.  Source: npr.org

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Markets News Regulators 

Here’s why investors shouldn’t worry that the Fed reported banks tightening lending standards

“But banks will have to ramp up lending to compete with energized corporate debt investors trickling back into the market” writes Sunny Oh for marketwatch.com. The senior loan officer opinion survey on Monday showed banks were reporting modestly tighter credit standards for the first time since 2016.But more skeptical analysts said stabilizing markets in the past few weeks as the U.S. central bank holds back on further rate moves suggest the growing caution among financial institutions will prove short-lived.Market participants say the central bank’s dovish turn stirred expectations for a…

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Crypto News 

Blockchain Lending Firm Dharma Raises $7 Million From Coinbase Ventures, Others

“San Francisco-based blockchain lending firm Dharma Labs has raised $7 million from big investors including Coinbase Ventures, as the company confirmed to Cointelegraph on Feb. 5” writes Helen Partz for cointelegraph.com. The crypto lending industry has continued to grow in 2018, with crypto lending firm BlockFi having recorded a tenfold increase in revenue over the second half of 2018.Bronstein stated that Lever would facilitate peer-to-peer crypto lending by allowing two parties of a loan to be discoverable, as well as eliminating the role of the middleman by putting trust on…

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AUD News 

Australia Commission: Tighter Regulation Not The Right Move For SMB Lending Misconduct

“Last year, all Big Four lenders admitted to wrongdoing in their small business lending practices during the Royal Commission hearings” reports pymnts.com. According to Hayne at the time, 11 percent of the 5,500 submissions that detailed alleged bank misconduct related to small business banking services.Currently, small businesses are defined under the legislation as companies with up to $2 million in turnover and up to 20 employees.The Royal Commission found that AMP had deceived regulators probing the firm over charging customers for financial advise it did not deliver.The inquiry established that…

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Crypto News 

Institutions Taking Crypto Loans from Genesis for Spot Trading

“Most notably, the institutions taking out the loans used the cryptocurrency provided to them for spot trading activities and, for cryptocurrency firms, to meet short term payment obligations in Bitcoin” writes David Kimberley for financemagnates.com. As our highly knowledgeable base of readers will know, the company has also been providing cryptocurrency loans for some time now.The bearish cryptocurrency market may have some traders down in the dumps but, for cryptocurrency exchange operator Genesis, things haven’t been all bad.In total, the firm provided $1.1 billion in loans over the course of…

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News 

Trump to choose Treasury’s Malpass to lead World Bank – sources

“The reforms seek to “graduate” countries to private-sector lending and limit World Bank staff salary growth” writes Midwest Communications Inc for 95kqds.com. WASHINGTON (Reuters) – The Trump administration has notified World Bank shareholders that President Donald Trump intends to pick senior Treasury Department official David Malpass as the U.S. nominee to lead the development lender, people familiar with the decision said on Monday. Source: 95kqds.com

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News 

Trump reportedly expected to pick Treasury Department official David Malpass to lead World Bank

“WASHINGTON (Reuters) – The Trump administration has notified World Bank shareholders that President Donald Trump intends to pick senior Treasury Department official David Malpass as the US nominee to lead the development lender, people familiar with the decision said on Monday” writes David Lawder for businessinsider.com. The reforms seek to “graduate” more middle-income countries to private-sector lending and limit World Bank staff salary growth. Source: businessinsider.com

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News 

China’s central bank told banks to moderate January lending pace, sources say

“The (loan) injection was too much, and (we) need to tap on the brakes,” said one of the sources close to the central bank” writes Jason Lee for cnbc.com. China’s central bank told some commercial banks in January to moderate their pace of lending, four sources with direct knowledge of the matter said on Friday, as it seeks to manage the amount of credit flowing into the economy.In December, Chinese banks extended far more new loans than expected, bringing last year’s tally to a record $2.4 trillion as Beijing.Credit lending…

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