Archive for 2018

Australia Brimming with Alternative Lending Activity

July 18, 2018
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Australia Lending

OnDeck announced today that it has closed on a $75 million (AUD) asset-backed revolving credit facility with Credit Suisse for its business in Australia. This will be used to refinance OnDeck Australia’s current loan book at a significantly lower cost, as well as to fund future originations there.   This comes shortly after Lending Express […]

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Texas Man Defrauds Banks with Cattle

July 18, 2018
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funny cow

A Texas man was arrested last week on allegations of using 8,000 heads of cattle he did not own as collateral for outstanding loans of more than $5.8 million, according to Dallas News. The arrest was the culmination of a 16-month investigation carried out by the Texas and Southwestern Cattle Raisers Association. They were contacted […]

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Crypto and Blockchain Added to 2019 CFA Exam

July 18, 2018
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Steve Horan Managing Director for General Education and Curriculum at the CFA Institute

Stephen Horan, Managing Director for General Education and Curriculum at the CFA Institute The CFA Institute, which creates the curriculum for the annual Chartered Financial Analyst (CFA) exams, has recently added cryptocurrencies and blockchain as topics for to its tests that are known for their difficulty. The tests are administered in over 170 countries, typically […]

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FCI Implements Factoring Solution That Is Islamic Law-Compliant

July 17, 2018
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The FCI, an international trade group focused on factoring, implemented changes to its General Rules of International Factoring so that they are now compliant with Islamic (Shari’a) law. The Amsterdam-based factoring group, which just celebrated its 50th anniversary, worked with Dubai-based Noor Bank and other constituents, to create amendments to its rules that would make […]

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Walmart Not New to Financing

July 17, 2018
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Walmart

Walmart is considering switching its branded credit card business partner from Synchrony Financial to Capital One Financial Group, according to a Bloomberg report. Accordingly, the change in banking partner is related to the retailer’s vision for Walmart Pay, Walmart’s current checkout payment system. In light of this, it is worth noting that Walmart is no […]

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California Bill May Disadvantage Small Brokers

July 17, 2018
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limon-cali

A California State Assembly bill that carefully defines what a broker is, could significantly affect small, unlicensed brokers, according to Tom McCurnin, an attorney at Barton, Klugman and Oetting in Los Angeles. Assembly bill 3207 enumerates the ways that the bill would depart from the current law. Most notably, the definition of a broker would […]

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How to Avoid Being Sued by a Professional TCPA Plaintiff

July 13, 2018
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Michael O'Hare Blindbid

Michael O’Hare, CEO, Blindbid Did you know that if you receive an unwanted solicitation call on your private cell phone or residential landline, you can win between $500 and $1,500 in damages from the offending company? The company can be charged for violating a statute of the 1991 Telephone Consumer Protection Act (TCPA), which prohibits […]

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DFS Releases Recommendations for Online Lending

July 12, 2018
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One Commerce Plaza, Albany, NY

At left, One Commerce Plaza where DFS’ Albany office is based The New York State Department of Financial Services (DFS) released a report on Wednesday on the subject of online lending in the state. The report was mandated by a bill signed by New York Governor Andrew Cuomo on June 1 of last year. According […]

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Axiom Bank Acquires Allied Affiliated Funding

July 12, 2018
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Dan Davis

Daniel Davis, President & CEO, Axiom Bank Axiom Bank, a community bank with retail branches located inside Walmarts throughout Florida, announced this week that it has acquired a factoring company, Allied Affiliated Funding. “Allied has a proven track record of success with accounts receivable lending, which fits well with Axiom’s broader business plan to diversify […]

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Access to Growth Capital Expands for Small Businesses in Western New York

July 12, 2018
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Brock Blake Lendio

Lendio franchise to match small business owners in Syracuse, Buffalo and Niagara Falls with the nation’s top online lenders. Rochester, New York – July 12, 2018 – Lendio, the nation’s leading marketplace for small business loans, today announced an expansion of the Lendio franchise in Rochester, New York. Lendio Rochester will provide financing solutions to […]

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