Current Industry News
New Report Shows Federal Home Loan Banks Received $7.3 Billion in Subsidies, but Offered Little Public Benefits in Return
Washington, DC – A new report by the Congressional Budget Office (CBO) has brought to light significant concerns regarding the balance between the public subsidies received by Federal Home Loan Banks (FHLBanks) and the public benefits they claim to offer.
Private Equity Wants Your Credit Card Debt. And Car Loan. And Mortgage.
Private fund managers such as Apollo, Ares, Blackstone and KKR have grown to dominate corporate finance over the past decade. Now they are targeting the biggest prize in the global economy: the U.S. consumer.
Breakdown in the “Fast Lane”: FTC challenges Womply’s promise to get small businesses PPP loans fast
Tick. Tick. Tick. For small business owners, gig workers, and freelancers fighting for survival during the pandemic, every day that passed without essential capital put their futures at risk. So when Womply – also known as Oto Analytics, Inc. – and CEO Toby Scammell claimed to offer a “PPP Fast Lane” to get them speedy access to funds through the Paycheck Protection Program, it sounded like time was finally on their side.
How Open Banking Can Help Crack the SMB Lending Puzzle
SMBs need fast, flexible and digital-first solutions that help rather than hinder growth. However, their needs have been traditionally underserved by banking incumbents who view them as too small to warrant the tailored services afforded to corporates, yet too diverse to be addressed in a scalable way like retail banking clients.