Square launched Square Capital in 2014 as a cash advance program for eligible businesses. The program gave businesses quick (the next business day) access to thousands of dollars, with great flexibility in payback. Payback came out as a percentage of…
Facebook Patents a Way to Let Lenders Reject You Based on Your Friends’ Crappy Credit
Facebook’s filed a new patent, and it might make you think twice about the (virtual) company you keep. Here’s the abstract of Facebook’s new patent: In particular embodiments, a method includes accessing a graph structure comprising a plurality of nodes…
Payday Loans Could Be Changing Soon
If you have ever had to use a payday loan to get you from one week to the next, you know how stressful it can be to worry about fees and interest. Although payday loans were designed to be helpful,…
Rewards Programs: Grads Do Good While Making Good On Debt
Typically, a rewards program is about “getting back what you give”. You might hear “loyalty program” and immediately think of forking over your credit card anyplace from the airport kiosk to a retail queue. Indeed, there’s much to be said…
FAFSA Student Aid Application Is Here
It is that time of year again for college students that are seeking financial assistance…time to fill out your FAFSA. For those of you who do not know what the FAFSA is, it is a Free Application for Federal Student…
Student Loans- Being Smart About Your Credit
If you are planning to go to college, a student loan may be inevitable. While many students are able to get scholarships or can afford to pay for college on their own, this is not the case for many. There…
Wendy Davis Says Official Should Resign for Lending Views
On Monday, State Sen. Wendy Davis suggested to Gov. Rick Perry the resignation of William J. White, chairman of the Texas Finance Commission. White was appointed by Gov. Perry in 2011 to chair the Office of the Consumer Credit Commissioner, an…
Occupy Wall Street Buys Debt at 50-1, Abolishes It
Reuters and the Guardian both report one of Occupy Wall Street’s spinoff groups, the Rolling Jubilee Project, announcing this week that they have successfully bought $14.7 million in healthcare debt accumulated by Americans for roughly $400,000. Rolling Jubilee was set…
Student Loans With Fixed Rates Could Help Lenders
The Fitch Group announced this week that it believes fixed-rate private student loans just might be the answer to kick-starting the loan industry. The company, though, does temper this advice with the warning that competition from variable-rate private loans and…
Payday Loans Reform : ZestCash by Ex CIO Merrill Helps Americans
Did you know that high interest loans, like payday loans are typically doing more harm than good for American Borrowers? Many of these loans have annual percentage rates equivalent to 350% ! Low income families who don’t meet requirements for…