X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
student loan fraud Source: Shutterstock.

Regional lenders have been struggling to attract the next generation of banking consumers to fill the gap that will be left by an aging baby boomer population. As a result, traditional financial institutions have been rushing to acquire or invest in fintech companies to reach the student loan market. In 2017, the education finance start-up Earnest was purchased by Navient, a federal loan servicer and provider of asset management and business processing solutions, for $155 million. A subsidiary of Fifth Third Bancorp jumped into the fray in 2018, leading a $50 million financing round for student lender CommonBond. And, earlier this year, Key Bank acquired the digital student lending business of Laurel Road Bank for an undisclosed sum.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Dig Deeper

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.