Fintech Lenders Stare Down Threat as Borrows Face Income Loss - FinTech Brief

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Fintech Lenders Stare Down Threat as Borrows Face Income Loss

Sunday, Mar 22 2020

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Written by FinTech News Brief Staff

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Fintech lenders are among those facing the most substantial risks from the economic slowdown—many are facing imminent income loss—resulting from COVID-19’s rapid spread. So reports Forbes.

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Specifically, those that issue personal loans, which are among some of the lowest priorities for borrowers, may be exceptionally at risk.

Further, fintech lenders that do not have bank charters cannot simply use customer’s checking accounts to fund their loans like traditional banks, illustrating another short-term risk they carry during the heath crisis.

Read the full article from Forbes.

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