THE Energy Department has released the first third of its $25 billion advanced technology loan fund for automakers to "create thousands of green jobs while helping reduce the nation's dangerous dependence on foreign oil".
Risk safeguards did their part to limit the downside for J.P. Morgan Chase from bad technology loans, and FleetBoston from financial shortfalls in Latin America.
The first part of the revamping plan involves the consumer banking operations, as well as the bank's home loan, technology and support operations.
A paper by Liran Einav and Jonathan Levin, both of Stanford, reporting on work with William Adams of Citigroup, shows how sophisticated automobile lenders can be in their loan technology.
In addition to adding new data sources to credit scores, sensor technology could revolutionize loan collateral tracking and balance sheet reporting for both SMEs and corporate clients.
"If you think about it there are a lot of companies out there like CreditKarma or Mint [but] you don't have a lot of technology-based student loan optimization products out there".
Finally, as lenders and banks continue to adopt new technologies to improve the loan process, it's only a matter of time before bots come into play.
(Bloomberg News) S.E.C. Opens Inquiry Into Exide's Loans Exide Technologies, which makes car batteries, said yesterday that the Securities and Exchange Commission started a preliminary inquiry into the company's fiscal 2006 loan agreements.
They say that the enlisted ranks give many more students a chance to show their patriotism, gain experience in specialized fields and technologies, and receive a loan-free college education through an expanded G.I. Bill.
The job reductions will fall mostly on the consumer banking, home loan, and technology and support operations of the company, which account for more than 70 percent of its 288,000 employees.
