Tagged: payday loans

Financial Wellness Benefits from DailyPay Are Reportedly Helping Workers Avoid High Fees Associated with Payday Loans

Retail workers are able to avoid “financially crippling” fees associated with payday loans and late penalties, while amassing less credit card debt when they have access to the financial wellness benefit of DailyPay, according to an update shared by the Fintech firm. The research follows… Read More

New York based Earned Wage Fintech Clair Secures $15M to Help Gig Economy Workers

New York-based Clair, an earned wage firm for gig economy workers and technology contractors, has finalized a $15 million Series A round that was led by Thrive Capital. Clair’s latest investment round brings the Fintech firm’s total funding to $19.5 million. The company’s seed round… Read More

UK’s Largest Payday Loan Provider QuickQuid to Shut Down, Despite Thousands of Pending Complaints

The United Kingdom’s largest remaining payday loan company will be shutting down its operations, despite thousands of complaints regarding its lending procedures still unresolved. Chris Laverty, Trevor OSullivan and Andrew Charters of Grant Thornton were appointed as joint administrators of QuickQuid on 25 October 2019,… Read More

SEC Charges Florida Lawyer for Greenlighting Sale of Unregistered Securities

The Securities and Exchange Commission (SEC) has filed civil charges against a “long-time” Florida securities lawyer accused of aiding and abetting”  an alleged $322 million USD securities fraud. Criminal charges were laid simultaneously September 17th against Attorney Jan Douglas Atlas, 74 of Ft. Lauderdale, Florida. The… Read More

Wonga: A Post Mortem

Wonga enjoyed a meteoric rise to fame. The company achieved £300 million of revenue in 2012, just six years after it was founded. Managing growth of this nature is enormously challenging and one doesn’t need to look far to spot similar issues at other warp… Read More

CFPB Publishes Report Critical of Payday Loan Sites

The Consumer Financial Protection Bureau (CFPB) has published a report on the online payday loan industry. The document, embedded below, analyzes ACH payment requests by a number of online lenders that make (or made) online payday or other high-cost online loans with payments scheduled on… Read More

Funding Circle’s Sam Hodges Presents at the House Committee on Small Business​ Hearing

In a Wednesday hearing titled “Bridging the Small Business Capital Gap: Peer-to-Peer Lending,” Funding Circle‘s co-founder and managing director Sam Hodges presented to the House Committee on Small Business​. According to the committee’s website, “The purpose of the hearing was to examine the rise of peer-to-peer lending platforms… Read More

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