Industry News

Payday Lending King Scott Tucker Convicted

October 14, 2017
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Scott Tucker - Payday Lending Kingpin

One year after a federal judge awarded a record-setting $1.3 billion judgment to the FTC against Scott Tucker for damages caused by his payday lending empire, a jury in the Southern District of New York found him guilty on criminal charges that include participating in a racketeering enterprise through the collection of unlawful debt, wire […]

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Mayor Rahm Emanuel Cuts Ribbon for 160% APR Online Lender

October 11, 2017
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Mayor Rahm Emanuel

Chicago Mayor Rahm Emanuel cut the ceremonial ribbon at OppLoans’ new headquarters in Chicago this week. The APR of a typical installment loan is 160% APR in many states, according to the OppLoans website. In South Carolina, a typical loan is listed as 199% APR over 9-18 months. Today we cut the ribbon on @OppLoans' […]

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Broker Fair 2018 – The Inaugural Conference for Merchant Cash Advance and Business Loan Brokers

October 5, 2017
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Broker Fair 2018

Put on by Foinse, LLC and presented by deBanked, Broker Fair 2018 will be at The William Vale in Brooklyn, NY on May 14, 2018 New York, NY – Foinse, LLC, in collaboration with deBanked, is excited to announce Broker Fair 2018, the inaugural conference for merchant cash advance (MCA) and business loan brokers. Broker […]

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deBanked to Attend FundKite ISO Event at Met Life Stadium Nov. 2nd

September 29, 2017
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New York Jets

It’s unlikely the New York Jets will be dreaming of the Super Bowl come November 2nd when they play the Buffalo Bills, but MCA company FundKite is hosting a VIP event for select ISOs/brokers at Met Life Stadium in East Rutherford, NJ that day. According to FundKite, sales reps that hit certain funding targets will […]

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Confidence in MCA and Online SMB Lending Industry Ticks Up

September 26, 2017
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confidence index q3 2017 mca and business lending

The latest industry CEO survey conducted by Bryant Park Capital and deBanked showed that confidence in the continued success of the SMB lending/MCA industry is coming back. Confidence had a hit a low of 73.8% in Q1 of this year, the lowest point since the survey started in 2015. In Q3, the number jumped up […]

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Bizfi Survives, Thanks to World Business Lenders Asset Purchase Deal

September 22, 2017
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World Business Lenders - Bizfi

The Bizfi marketplace is slated to live on, according to Stephen Sheinbaum who joined World Business Lenders (WBL) as a managing director in July. On Wednesday, WBL purchased several assets from Bizfi including the brand, the marketplace, the Next Level Funding renewal book, and other related pieces of the company, he says. Sheinbaum founded Bizfi […]

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C-level Credit Exec Leaves Lending Club for Affirm

September 21, 2017
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business team

Lending Club’s Chief Credit Officer and Interim General Manager, Sandeep Bhandari, has joined fintech lender Affirm, according to Affirm CEO Max Levchin. Levchin posted the following on LinkedIn: I am excited to announce and welcome Sandeep Bhandari to Affirm, Inc. as Chief Strategy and Risk Officer (CSRO). Sandeep joins us from Lending Club where he […]

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New CTO at Breakout Capital is Former CTO of Capital One Labs

September 18, 2017
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Welcome aboard

Firoze Lafeer, the former Capital One Head of Tech Fellows Program and CTO, Capital One Labs, is now the CTO of Breakout Capital, a Breakout representative confirmed. Lafeer was with Capital One for five years, most recently running the company’s experimental product & technology incubator and accelerator. Breakout Capital is a fintech small business lender […]

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PayPal’s Global Head of Product Comm Joins Lending Club

September 14, 2017
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35884857 - businesswoman hands holding white card sign with welcome aboard text message isolated on grey wall office background.

Anuj Nayar, PayPal’s global head of product communications, has moved on to Lending Club as VP and head of communications, according to published reports. Nayar was also previously Head of Mac Public Relations at Apple from 2003 to 2008. At PayPal, Nayar was the primary spokesperson on a range of proactive and reactive issues, according […]

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The SoFi Story Has Spun Into a Lurid Tale About Misbehaving Silicon Valley Startups

September 13, 2017
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SoFi Culture

The SoFi story is slowly unraveling from a handful of unhappy employees seeking relief through the courts to a full-on Silicon Valley frat house anything-goes sexcapade scandal. If you haven’t been following along, below are links to help you catch up on how the story has unfolded: 8/11 – NY Times – Another Silicon Valley […]

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