Executive Summary:
With tightening credit standards, more borrowers are turning to peer-to-peer lending websites on the internet. Responsible for about $100 million in loans in 2007, P2P lending is expected to jump to $1 billion by 2010. Like many other financial institutions, P2P borrowers pay a rate that roughly corresponds to their credit score, though the lender market ultimately determines the rate.
Two Jacksonville, Florida credit unions have announced that they have merged, effective March 31, though final software integration is scheduled for July 1. Marketplace FCU, a $21 million asset financial, will merge into $81 million asset HealthAmerica CU. The resulting CU will have over 20,000 members.
Robbed:
- Nothing to report today.
Arrested, Arraigned, Charged, or Sentenced:
- A Denison, Texas man was sentenced to 32 years in prison Monday after pleading guilty to four robberies, including Resource One CU in December 2007. Dubbed The Toboggan Bandit, Jim Wesley Davis carried a gun in all four robberies, pointing it in a threatening manner on three occasions.
Posted by Christian Mullins 