Sean Murray

Articles by Sean Murray

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Square Wants to Become a Bank

September 6, 2017
Article by:

Jackie Reses Square Capital

Square is expected to apply for an Industrial Loan Company (ILC) bank charter this week, according to American Banker and other sources. Like SoFi, who is busy trying to do the same thing, their attempt will also face competitive resistance. In June, Richard Hunt, president and CEO of the Consumer Bankers Association (CBA), told deBanked […]

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No, Able is Not Going Out of Business, Company Says

September 5, 2017
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Able Lending in Austin, TX

Above: A snapshot of Able’s office when deBanked visited earlier this year An industry blog appears to have stretched the truth, again. On September 1st, Lending Times published a story that relied on an anonymous source to suggest that Austin,TX-based Able Lending is going bankrupt and selling their portfolio. No other compelling evidence is offered […]

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You’re Under Arrest: Funder Takes Extreme Measures to Counter Data Theft

September 4, 2017
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employee arrested for data theft at yellowstone capital

Above: Yellowstone Capital CEO Isaac Stern takes the lead as police escort out the arrested employee behind him An employee of Yellowstone Capital was arrested last month, according to a source who witnessed the events. At the company’s behest, local police entered Yellowstone’s Jersey City office and handcuffed a female employee who was believed to […]

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The State of The Industry (In Memes)

September 2, 2017
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ISOs vs Direct Sales

The state of things in MCA, online lending, and fintech through the disloyal boyfriend meme: SEE MANY MORE DEBANKED MEMES The History of Alternative Finance (As Told Through Memes) Ready to Trade ONDK and LC? Scroll to the bottom of the page 10 Clues You’re Hardcore About Merchant Cash Advance

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Marketplace Lending Investors Ponder Loan Defaults, Issues in Harvey’s Path

September 1, 2017
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hurricane harvey

On the LendAcademy Forum, a Lending Club investor posted that he had been selling notes belonging to Houston borrowers in anticipation of payment issues stemming from Hurricane Harvey. Other users chimed in with assessments of their own personal exposure, including one who noticed that affected zip codes made up a little under 4% of his […]

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Letter From The Editor – July/August 2017

August 30, 2017
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deBanked Magazine Copies July/August 2017

Happy end-of-summer. It’s been a remarkable year so far. In this issue, we talked to small business owners about what works and what doesn’t. Several of them advocated for more personal attention and to shift away from old fashioned marketing tactics like cold calling. If you’re a salesperson, you’ll want to read what your clients […]

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The deBanked Golf Outing 2017 Was a Success

August 28, 2017
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debanked flags

Thanks to everyone that attended deBanked’s first ever industry golf outing at Marine Park Golf Course in Brooklyn, NY. And thank you to all the sponsors who helped make it a success! A PHOTO ALBUM IS NOW LIVE SOS Capital Elevate Funding Hudson Cook, LLP Yellowstone Capital Signature Printing & Consulting Grassi & Co Central […]

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CFPB Sanctioned By Federal Judge After Engaging in Funny Business During Discovery

August 26, 2017
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federal court ruling

When the CFPB was asked to support their claims in a brutal lawsuit they had brought against several payment processors, they balked and stonewalled. Eventually, the judge had enough. On Friday, US District Judge Richard W. Story granted sanctions against the Consumer Financial Protection Bureau (CFPB) for misconduct in discovery and dismissed their case against […]

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George Popescu of Lending Times in Trouble With UK Regulators Over Questionable Business Practices

August 21, 2017
Article by:

TIME OUT

George Popescu, owner of Lending Times, and the winner of the 2017 LendIt Awards for best journalist coverage, has been banned from acting as a company director in the UK for 12 years, according to the government’s Insolvency Service. The ban stems from his tenure as CEO of a company called Boston Prime. George Alex […]

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Lending Club: Charge-offs will happen

August 16, 2017
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five things to know about lending club notes

A short guide that Lending Club circulated to retail investors yesterday offers them five key pieces of advice. 1. Focus on net returns 2. Charge-offs will happen 3. Diversification is key 4. Monthly payments include principal and interest 5. Reinvestment is critical for consistent returns Lending Club has gradually drawn more attention to the effect […]

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