# Beyond Banks

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## Posts
- [The Bancorp quits small-business loans](https://newsletter.cobaltintelligence.com/p/the-bancorp-quits-small-business-loans): Chime, 1 of its 2 deposit banks, says it will consolidate at Stride once it owns the charter.
- [Blue Owl marks Loparex at 5 cents](https://newsletter.cobaltintelligence.com/p/blue-owl-marks-loparex-at-5-cents): Loparex announced a Monarch-led rescue three days after the mark surfaced.
- [Texas opens MCA registration](https://newsletter.cobaltintelligence.com/p/texas-opens-mca-registration): OCCC reserves recurring ACH debits for the first-filed funder.
- [TabaPay funds $155M bank-charter deal](https://newsletter.cobaltintelligence.com/p/tabapay-funds-155m-bank-charter-deal): The payment rail is changing before the deal closes
- [Block opens Cash App score to lenders](https://newsletter.cobaltintelligence.com/p/block-opens-cash-app-score-to-lenders): Nova Credit is how the score gets out
- [TitleMax can't escape PA's $52.7M case](https://newsletter.cobaltintelligence.com/p/titlemax-cannot-escape-pa-52m-case): Map your book by state before counsel does
- [Velocity pays $62M for Toorak](https://newsletter.cobaltintelligence.com/p/velocity-pays-62m-for-toorak): KKR is out. The origination machine is what sold.
- [$964K clawback hits 3 MCA funders](https://newsletter.cobaltintelligence.com/p/964k-dollars-clawback-hits-3-mca-funders): Alleged rates ran 62% to 149% on money already paid.
- [7 agencies void targeted-loan cover](https://newsletter.cobaltintelligence.com/p/7-agencies-void-targeted-loan-cover): The rule that actually binds changed five weeks ago.
- [CFPB pulls 3.8M complaint narratives](https://newsletter.cobaltintelligence.com/p/cfpb-pulls-3m-complaint-narratives): A free early-warning surface for partner risk goes dark.
- [Clearco caps jump to $10M per merchant](https://newsletter.cobaltintelligence.com/p/clearco-caps-jump-to-10m-per-merchant): Your upper-ticket ecomm deals just got a bidder
- [KBRA, Midland Flagged Partner Before Coastal Hit](https://newsletter.cobaltintelligence.com/p/kbra-midland-flagged-partner-before-coastal-hit): What your indemnity is worth if payment stops?
- [Nvidia offers 25% residual support in AI finance push](https://newsletter.cobaltintelligence.com/p/nvidia-offers-25-percent-residual-support-in-ai-finance-push): Separate supplier's risk from borrower's cash flow
- [DOJ SCRA settlements hit $916K across three firms](https://newsletter.cobaltintelligence.com/p/doj-obtained-916k-in-three-repossession-cases-since-february): Why 3931 affidavits reach your MCA and factoring book
- [Senate passes bill lifting Sub V cap to $7.5M](https://newsletter.cobaltintelligence.com/p/senate-voted-to-let-7-million-borrowers-cram-down-their-lenders): Advances and factoring absorb it; secured keeps 1129(b) 
- [Massachusetts Took $2.5M Over AI Underwriting, Using a Theory Federal Law Dropped on July 21](https://newsletter.cobaltintelligence.com/p/massachusetts-took-2m-over-ai-underwriting-using-a-theory-federal-law-dropped-on-july-21): Regulation B covers business credit, so the effects test left your merchant files too. New Jersey's statute reaches any loan for whatever purpose, and it did not move.
- [Banks Loosened Business Credit Past Its Historical Midpoint, Citing Nonbank Competition](https://newsletter.cobaltintelligence.com/p/fed-survey-banks-loosest-on-business-loans-tight-on-nonbank-lenders): The Fed's July survey, released August 3, puts every other loan category at the tight end of its range since 2005, including the credit banks extend to nonbank lenders.
- [Sallie Mae Targets $5 Billion a Year as Washington Exits Graduate Lending](https://newsletter.cobaltintelligence.com/p/sallie-mae-targets-5-billion-a-year-as-washington-exits-graduate-lending): The Ninth Circuit locked in $23 billion of borrower-defense relief the same month Grad PLUS ended. A roughly $15 billion a year federal market now belongs to private and state lenders, on private terms.
- [Open Lending's Only Bidder Cut Its Offer From $3.50 to $3.15](https://newsletter.cobaltintelligence.com/p/open-lending-drew-one-bid-the-price-fell-to-3-15): Eight buyers were contacted and one bid. While the two sides negotiated, certified loan volume kept falling, and the offer followed it down.
- [Fortress Will Buy $1.5B of Merchant Advances](https://newsletter.cobaltintelligence.com/p/fortress-will-buy-15b-of-merchant-advances): A three-year forward flow for 5-to-10% fixed-fee paper, terms undisclosed
- [SBA Pushes $10M Loans as Defaults Hit a 12-Year High](https://newsletter.cobaltintelligence.com/p/sba-pushes-10m-loans-as-defaults-hit-a-12-year-high): One borrower can now stack $5M of 7(a) on $5M of 504. The taxpayer guarantee cap never moved
- [Credit Washers Erased $10B. Their Files Score Prime](https://newsletter.cobaltintelligence.com/p/credit-washers-erased-10b-their-files-score-prime): Suppressed charge-offs default at 12x the clean-file rate; auto fraud losses tripled to $323M
- [Car-Mart Collected $730M and Still Ran Out of Cash](https://newsletter.cobaltintelligence.com/p/car-mart-collected-730m-and-still-ran-out-of-cash): The waterfall kept the cash. 60 of 154 lots closed, then came the going-concern warning
- [State AGs Move to Block OnDeck, Bitty Bank Deals](https://newsletter.cobaltintelligence.com/p/state-ags-move-to-block-ondeck-bitty-bank-deals): Enova owns OnDeck; OppFi has 35% of Bitty, 2027 option 
- [Third MCA Funder This Year Prints a Rated ABS](https://newsletter.cobaltintelligence.com/p/third-mca-funder-this-year-prints-a-rated-abs): ByzFunder and Kapitus ran the same rated-ABS playbook