Kabbage settles $120M PPP fraud case; "Bank of Dave"
American Banker
In-depth analysis, perspective and commentary on key issues affecting the banking industry.
Dave Fishwick of 'Bank of Dave' has a new nemesis: Payday lenders. The real-life British banker behind the hit Netflix movie 'Bank of Dave' talked with American Banker about the sequel due out next year and why opening more local community banks is so important.
Sign up here to receive American Banker's complete Daily Briefing newsletter — delivered to your inbox every morning.
Kabbage, a bankrupt fintech lender, settles PPP fraud case with DOJ: The small business lender's bankrupt shell has agreed to pay up to $120 million in connection with allegations that its verification processes for Paycheck Protection Program loan applications were faulty. The government argued that Kabbage reaped larger fees by enabling fraudulently inflated loans.
More consumers are maxing out their credit cards: New York Fed. The number of borrowers who are at their credit limits is approaching its pre-pandemic level, and the percentage of balances that are sliding into delinquency has hit its highest rate in more than a decade, according to new research. Still, card companies are generally expressing optimism about their credit outlooks.
领英推荐
How a Minnesota bank is jumping into the earned wage access market: Stearns Bank in Saint Cloud is working with the on-demand payment technology firm Reset to launch an earned-wage card for blue collar and immigrant families struggling with access to money.
Read more: The rising pressures on credit card issuers
Bankers more optimistic about loan growth this year: Executives also say funding pressures have begun to ease, though high interest rates and deposit costs remain a leading worry, according to new surveys.
Apply for one of American Banker's upcoming awards programs:?
Join us to learn about the Bank of the Future at our?Digital Banking Conference, June 24-25 in Boca Raton, Florida.
appraiser
9 个月How about them padding.
Senior Fellow, Richman Center at Columbia University, Independent Director & Managing Principal at Broadmoor Consulting
9 个月Bankruptcy folks…how did the former owners and American Express who bought the productive assets avoid liability for any of this? #bankruptcy