Tags: Loan

Fifth Third Bank Agrees to Pay $20 Million to Settle Charges Over Fake Accounts, Forced Unwanted Car Insurance

Fifth Third Bank has agreed to pay $20 million to settle allegations about creating fake customer accounts and selling unnecessary car insurance.


Apple Pay Soon to Offer Users ‘Buy Now, Pay Later’ Loans Through Affirm

Apple partners with Affirm for "buy now, pay later" loans. The Apple Pay logo is displayed in a mobile kiosk sponsored by Visa and Wells Fargo to demonstrate the new Apple Pay mobile payment system on October 20, 2014 in San Francisco City.

Biden Admin to Make Credit Card, Other Loan Applications Easier by Blocking Medical Debt on Credit Reports

The Biden Administration wants to allow credit card and other loan applications. Here's what you need to know about the CFPB's new rules for credit reports.

China Pressing Banks to Expedite Loan Approvals to Cash-Strapped Private Property Developers

Chinese authorities are pressuring banks to approve new loans to private property developers faster to boost purchaser sentiment and lower lenders' asset quality.


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Canadian students can now receive more grants as the government’s first budget revealed more financial aids for post-secondary students. In addition, graduates will not be demanded to pay students loan back until they make $25,000 a year.
Russian energy company GazProm signed a loan agreement with Bank of China on Thursday. GazProm borrowed €2 billion ($2.17 billion) on a 5-year term
Porsche is constructing its residency tower with hydraulic lifts that could transport residents’ cars to the garage next to their units. The garages will have floor-to-ceiling windows right outside the living room, where car enthusiasts can keep and enjoy their cars in the luxury personal garage while enjoying the buildings post amenities.
India is about to fund $3.56 billion of capital to govrnment-run lenders because of bad and restricted loans. Banks felt relief as the government is ready to help them when they need the capital.
A startup offering up to $10,000 loan to help couples fund their wedding had shifted its business concept to a crowdfunding platform. The move infuriates many couples expecting the loan, whereas the startup said that the couple wouldn’t have to pay it back as long as they stay together. The change of business plan was due to overwhelming demand and regulation challenges, stated the company.
The case had been investigated since 2013, and the practices are believed to have been going on since 2011. U.S federal regulators claimed that African-American, as well as Asian/Pacific Islander borrowers, were charged more for auto loans. Toyota voluntarily agreed to pay the amount of compensation, but the company refuses to admit that the practice is a form of racial discrimination.
Guinness Nigeria, the country's second-biggest brewer is seeing a prolonged decline in sales and shares. The failing of the beer industry is part of a bigger national economic slowdown, whereas Nigeria, Africa's largest economy, seek out for loan to cover budget deficits.
Goldman Sachs Group Inc had to write down its loan to the troubled Portuguese bank Banco Espirito Santo SA in the fourth quarter, cutting the bank's profit and some employees' bonuses, people familiar with the matter told Reuters.
U.S. fund firms are taking extra measures to make sure they don't get stuck holding hard-to-sell bonds in the event that fixed income markets see a massive race to the exits when interest rates start to rise.
U.S. power company NRG Energy Inc aims to grab a bigger piece of the residential solar industry by expanding its business in California, the nation's biggest solar market, and offering a new financing option to its customers.
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