Fintechs are literally passing the buck to private credit

Quick Summary:

Until there is an actual recession and a surge in defaults, the consequences of this endless money-spinning on the financial system will not become clear.

This latter group has been hammered by higher interest rates, heavy expenses and limited profits.

A private asset manager purchasing loans likely cares less about accounting adjustments.

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Article Details

Category: MarketsFinanceInvesting

Markets: United States

Topics: Upstart Loans Consumer Loan Credit Banks Interest Financial Private Fortress Blue

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 13:01:22 (11 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 462 words

Reading Time: 3 minutes read

Sentences: 25 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 23119955

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About Financial Times

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 13 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 13 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #3

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