Articles by deBanked Staff

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Another ICO Connected to George Popescu Leads to Losses

February 16, 2018
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investor losses

Cryptocurrency entrepreneur and lending journalist George Popescu has quarterbacked another losing trade for investors drawn to Initial Coin Offerings (ICOs). One of his latest, DropDeck, suffered a catastrophic event, according to the company’s blog. The digital wallet software where investor funds were being held was hacked. But rather than the funds being stolen, the Ethereum […]

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Lendr Announces Vegas Contest Winner

February 16, 2018
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Lendr Awards iAdvanceNow

A Las Vegas contest marketed to ISOs by Chicago-based Lendr was a success, according to the company. Lendr revealed the first prize winner of a Vegas trip for 4 (valued at $7,500) to be iAdvance Now. One Way Funding and Fast Cash Team won second and third place and cash prizes of $2,500 and $1,500 […]

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Abe Zeines, Jennie Villano ‘Cook Up’ Buzz

February 13, 2018
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Villano-Zeines

Abe Zeines, of former MCA infamy, is cooking up something new, according to a video that was posted on LinkedIn earlier today. The 2-and-a-half minute clip was produced by Jennie Villano, a top social media marketer who serves as the VP of Business Development at Kalamata Advisors. Villano was spotlighted for her notable online marketing […]

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SoFi Personal Loan Performance Suffers

February 11, 2018
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SoFi sign

Above: A SoFi NYC subway ad hangs in February 2016. SoFi eventually ditched its ‘Don’t Bank’ slogan when it applied for a bank charter. It has since withdrawn that application A story in the Wall Street Journal last week reported that SoFi borrowers are missing their loan payments at an unexpectedly high rate. The emerging […]

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SEC Chair Says Every ICO He’s Seen is a Security

February 7, 2018
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SEC Chairman Jay Clayton

Jay Clayton, SEC Chairman The murky world of Initial Coin Offerings (ICOs) was hit with alarming news during a cryptocurrency-related Senate committee hearing on Tuesday. That’s because SEC Chairman Jay Clayton said,“I believe every ICO I’ve seen is a security, You can call it a coin but if it functions as a security, it is […]

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Decision One Debt Relief, MCA Helpline Not Related, Company Says

February 7, 2018
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Courtroom

Everest Business Funding has voluntarily withdrawn claims against one of three named defendants in a debt settlement tort lawsuit in Florida, court records show. The case against Decision One Debt Relief was withdrawn without prejudice on February 2nd. That leaves MCA Helpline, LLC and Todd Fisch individually as the remaining named defendants. Everest had originally […]

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Fintech Was Back on Capitol Hill

February 1, 2018
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Capitol Building

A House financial services subcommittee hearing this past Tuesday put fintech and online lending back in the spotlight. The most notable witness that testified was Nat Hoopes, Executive Director of the Marketplace Lending Association (MLA). The MLA represents companies like Lending Club, Prosper, Funding Circle, Avant, Marlette Funding, Affirm, CommonBond, Upstart, PeerStreet, and StreetShares. Hoopes […]

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Kalamata Capital / Biz2Credit Lawsuit Settled

January 31, 2018
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law books

An old dispute between Kalamata Capital and Biz2Credit came to an end today, according to court records. A stipulation of discontinuance with prejudice was filed that confirmed the parties had settled all matters between them. Kalamata Capital had originally brought the action against Biz2Credit in December 2014.

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Yellowstone Capital Originates $60 Million in Funded Deals in January

January 31, 2018
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yellowstone capital news

A company email circulated by Yellowstone Capital late Wednesday afternoon said that they originated $60 million in funded deals for the month of January. That’s a 20% increase over the company’s most recent monthly totals. The top performing sales rep grossed $302,000 in commission in January alone, the email also stated. Yellowstone Capital is based […]

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Default Judgment Against MCA Company Vacated

January 30, 2018
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law books

A default judgment against a South Florida merchant cash advance company has been vacated, according to court records. 1st Global Capital fell victim to a mishap last November when they failed to a respond to a lawsuit defendant’s counterclaim of usury. 1st Global, who learned about it through a blog post, responded by filing a […]

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