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North Dakota passes mortgage lender and servicer laws

CFPB Monitor

On April 12, North Dakota Governor Doug Burgum signed into law House Bill 1068 , which creates a new statutory licensing scheme in North Dakota covering residential mortgage loan servicing activities. Continue Reading

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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

Pay in 4 is not currently available for residents of Missouri, New Mexico, North Dakota, South Dakota, Wisconsin, or any US Territories. Notable merchant partners include Best Buy, Home Depot, and Target. So, if there’s usually no interest being charged for BNPL purchases, how do these companies make any money?

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Wells Axes 200+ Staffers From US Lending Units

PYMNTS

lending division in recent months, with a focus on its agriculture and energy teams, Reuters reported. The company’s agricultural lending division, which gives loans to farmers, was cut by at least 25 percent, while the bank also laid off about 7 percent of the staff from its energy lending group over the summer.

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Insurance Firms Wade Into Alternative Finance

PYMNTS

The outlet said insurance firms, like MetLife and American International, are branching out into an array of lending practices, including small business lending. Financial Stability Oversight Council and is North Dakota’s insurance commissioner, in an interview.

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More Than 200 Bankers Let Go At Wells Fargo

PYMNTS

lending division in recent months, with a focus on its agriculture and energy teams, Reuters reported. The company’s agricultural lending division, which gives loans to farmers, was cut by at least 25 percent, while the bank also laid off about 7 percent of the staff from its energy lending group over the summer.

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Commercial Credit Trends – Where to Tread Carefully

South State Correspondent

Lending is getting riskier. As can be seen, the consumer is starting to feel the credit shock first while commercial lending is still performing. Minnesota, North Dakota, and Iowa were the least risky states to lend into. This quarter, it is 2.58%. Below are the current delinquency trends and projections.

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What Is Powering The Emerging Pawnaissance?

PYMNTS

While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. The loan amount a borrower can get from a pawnbroker is determined solely by the value of the item itself; as in most forms of short-term lending, there is no credit check.

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