Big Banks Embrace Small Lenders Rather Than Compete Against Them
December 31, 2015 – The Wall Street Journal, Peter Rudegeair and Emily Glazer
“… large banks are choosing the path of embracing up-and-coming lenders rather than facing off against them.
Some of these partnerships have been in place much longer. A Wells Fargo & Co. unit that processes credit-card payments for merchants has had an arrangement with CAN Capital Inc. for the past five years in which customers who were declined a bank loan are referred to the online lender.”