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WEST READING, PA & SAN MATEO, CA – (COMMERCIAL THREAD) – Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, today announced that Customers Bank, a full-service community super bank and a subsidiary of Customers Bancorp, Inc. (NYSE: CUBI), has grown and expanded its banking partnership with Upstart to expand its personal loan program …

Illinois has joined the growing number of states that have restricted high-cost payday loans, but it’s taken a different path to get there: state house. Illinois Governor JB Pritzker (D) signed a law on March 23 that caps interest rates on payday loans, auto title loans and installment loans at 36%. Similar efforts in other …

An invoice addressed to Tennessee Gov. Bill Lee’s office allows some lenders to increase service and maintenance fees and add additional closing costs on some fixed installment loans. Credit: Adobe Stock Low-income borrowers will be disproportionately burdened by a bill passed by the Tennessee Senate on Monday, critics said, that will increase the fees lenders …

Select’s editorial team works independently to review financial products and write articles that our readers will find useful. We may receive a commission when you click on product links from our affiliate partners. The idea that your student loans have little impact on your credit score is a common myth. The two accounts that regularly …

But Senator Justin Wayne of Omaha argued that the proposal would allow installment lenders to prey on people without good credit records. He pointed out that no consumer had come to ask for the change. The only witness supporting the bill was OneMain Financial, a company offering installment loans. Other critics include Senator Carol Blood …

In this age of quick and short funding, it’s understandable that small business owners might overlook installment loans. After all, they require more documentation than some of the other types of loan products on the market. But this type of loan – where you get a lump sum that you pay back over a predetermined …

People opt for various types of loans to meet their personal and professional needs. However, the mode of operation of these ready can be very different. Installment loans are very popular and are preferred by people from all walks of life. An installment loan is a type of loan that is meant to be repaid …

In July, the Federal Office for Financial Consumer Protection (CFPB) canceled its 2017 well-balanced guarantees for payday loans and the like with terms of up to 45 days. This change will be a setback for the millions of borrowers who will not have these protections, but banks can help mitigate the damage. Payday borrowers have …

Select’s editorial team works independently to review financial products and write articles that our readers will find useful. We may receive a commission when you click on product links from our affiliate partners. Having a combination of credit products in your name, such as a few credit card accounts and a mortgage or car loan, …