03/13/23 Regulators backstop SVB deposits, launch emergency lending facility (Banking Dive) Silicon Valley Bank’s depositors have been granted full access to their funds by the Federal Deposit Insurance Corp, which took emergency measures to prevent the spread of financial instability in the banking industry. In addition, the Federal Reserve has established a $25 billion lending facility to provide liquidity to …
Online Lending Monthly News – March 2023
MonJa’s Digital Banking and Lending Monthly Roundup | February 2023
02/24/23 High Interest Rates At Banks Make Alternative Lenders More Attractive For Small Business Borrowers (Forbes) As interest rates for SBA and traditional term loans increase, non-bank lenders are becoming a more appealing option for companies seeking working capital. Although non-bank lenders offer slightly higher rates, borrowers are drawn to their quicker and more reliable funding options. Long-term interest rates, …
Online Lending Monthly News – February 2023
MonJa’s Digital Banking and Lending Monthly Roundup | January 2023
01/30/23 Most Americans Anticipating a Fed Rate Increase; Analysis Shows What Increase Will Cost People (CU Today) With the Federal Reserve probably expected to raise rates again, a new consumer poll reveals that most Americans anticipate inflation to aggravate. According to the WalletHub poll, two-thirds of Americans believe inflation will be worse in 2023 than in 2022, with 87% of …
Online Lending Monthly News – January 2023
MonJa’s Digital Banking and Lending Monthly Roundup | December 2022
12/27/22 CUs Continue to Lure Certificates by Offering Higher Rates; FECU Caps Deposits at $5 Million (CU Today) A range of captivating rates is being offered by CUs all around the nation as they look for inflow of funds. First Entertainment Credit Union is one of the CUs providing a 15-month Special Term Savings Certificate with a 5% APY, requiring …
Online Lending Monthly News – December 2022
MonJa’s Digital Banking and Lending Monthly Roundup | November 2022
11/23/22 Several Credit Unions on the East Coast Plan Mergers (Credit Union Times) While credit unions in California and Washington claimed their consolidations had just been completed, those in Connecticut, New York, and Maryland recently announced potential mergers. The State of Connecticut Department of Banking received a merger application from the $1.1 billion Sikorsky Financial Credit Union in Stratford, Conn., …