Weekly Online Lending Snapshot – December 30, 2016
On December 27, Even Financial released its “Online Lending – 2016 Insights at a Glance” report. The report highlights end-of-year data on consumer acquisitions in online lending. Earlier this month, the Consumer Financial Protection Bureau announced the launch of a web-based tool to help the public monitor trends in consumer lending. In keeping with this week’s theme of trends in lending and credit, an article published this week in American Banker asks the question, “Does Automation Eliminate the Bias from Small Business Lending?” It points out that although women own one-third of U.S. small businesses, they receive less than 20% of small business loans provided by traditional lenders, and posits that online lending may help to eliminate biases in lending. Happy New Year!
Note that this report is updated as of Thursday’s market close to ensure we can get it to you before the weekend. Please contact us with any feedback or suggestions you may have for future snapshots.