Small business lending data collection rule change expected in March
Changes to the Equal Credit Opportunity Act (ECOA) that would require equipment lenders to submit to the Consumer Financial Protection Bureau credit application data for women-, minority- and black-owned businesses are expected in the coming months. The CFPB has been since
As banks tighten credit, equipment financers see opportunity
Equipment financiers remain optimistic about 2023, even as inflation and recession fears continue to linger. “Our folks haven't missed a beat during the last recession; they haven't missed a beat when interest rates are high, they don't miss a beat when
Equipment finance industry confidence rebounds in January
Confidence among executives in the equipment finance industry continues to grow after a two-year low in November 2022, despite concerns about inflation and a possible recession. The Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) — an assessment of current
Limited systems integration stunts captives’ innovation
Captive finance organizations are critical to the success of the equipment financing industry, but limited systems integration with parent organizations is creating a barrier to innovation. For captives and their parent companies, connecting the digital ecosystems of both organizations is the
Equipment finance new business volume up 6%
Overall new business volume in the equipment finance sector in October jumped 6% year over year and 11% month over month to $11.3 billion despite rising interest rates and the expectation of a forthcoming recession. Year to date, cumulative new business
Financiers should watch for ‘stagflation,’ economist says
NEW YORK — Financiers need to keep an eye on “stagflation” as the cost of goods and services continues to increase as a result of coronavirus-induced supply chain constraints, the compounding effects of the war in Ukraine and rising energy
