Small Business in the News: March 4-10, 2017

We know there is too much to keep up with when you’re a busy entrepreneur, so we compile small business news highlights each week for you to read only what matters most. Here is a summary of the top stories for March 4-10, 2017.

ILPA and CRBF Join Forces

The Innovative Lending Platform Association (ILPA) and the Coalition for Responsible Business Finance (CRBF) announced they are teaming up and will now operate as the ILPA. The newly expanded ILPA is dedicated to advancing best practices and standards to support responsible innovation and access to capital for small businesses. Read more…

The OCC Seeks Special Banking Charters for Online Lenders

The Office of the Comptroller of the Currency is seeking a plan to grant special banking charters for financial technology companies and online lenders. Those who oppose the plan argue the OCC doesn’t have statutory authority and that the plan could supersede state laws aimed at protecting consumers. Read more…

Online Lending Network Helps Reduce Fraud

ID Analytics LLC, announced the company’s Online Lending Network helped reduce fraud for their members. Early research shows that 1.5% of online loan applicants were seen applying at other lenders within six hours of submitting their application, an indicator that the applicant is twice as risky as the average online applicant. Read more…

Experian Joins Marketplace Lending Association

Experian announced they have joined the Marketplace Lending Association as an associate member.  Experian is focusing on combining technology with the power of data to help drive an economy that is continually changing. Read more…

Online Lender Secures Millions for New Facility

Kabbage, an online alternative lender, announced a $525 million securitization transaction for a new facility to enable the expansion of large business products. The new facility will enable Kabbage to continue to broaden its product mix by offering larger credit lines and longer term loans. Read more…

 

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