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Consumer Bitcredit And Fintech Lending, Christopher K. Odinet Dec 2017

Consumer Bitcredit And Fintech Lending, Christopher K. Odinet

Christopher K. Odinet

The digital economy is changing everything, including how we borrow money. In the wake of the 2008 crisis, banks pulled back in their lending and, as a result, many consumers and small businesses found themselves unable to access credit. A wave of online firms called fintech lenders have filled the space left vacant by traditional financial institutions. These platforms are fast making antiques out of many mainstream lending practices, such as long paper applications and face-to-face meetings. Instead, through underwriting by automation — utilizing big data (including social media data) and machine learning — loan processing that once took days …

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The Financial Sector Upheaval Of 2008: Sociological Antecedents And Their Implications For Investment Company Regulation, Larry Barnett Dec 2008

The Financial Sector Upheaval Of 2008: Sociological Antecedents And Their Implications For Investment Company Regulation, Larry Barnett

Larry D Barnett

In 2008, the United States experienced a severe contraction in the availability of credit, a marked reduction in the price of common stocks, and an appreciable increase in interest rates on debt instruments issued by business entities and by state and local governments. The premise of the instant article is that, although this upheaval was economic in form and sudden in occurrence, it stemmed from change that was sociological in character and that started in prior decades. Specifically, the 2008 upheaval in finance is traced to a shift in social values among Americans - namely, an increased prevalence of hedonism …

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