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Stock impact report

Chime adds instant loans [Yahoo! Finance]

MoneyLion Inc. Class A (ML) 
Company Research Source: Yahoo! Finance
Neobank Chime has rolled out instant loans, offering customers access to up to $500 at a fixed interest rate, without having to go through a credit check, the company said The product, launched Friday, will offer three-month installment loans to pre-approved Chime customers who use the fintech's checking account for direct deposits. Chime will tap its technology and data sources to determine loan eligibility, and customers pre-approved for a loan will be notified through the Chime app. The product “is the latest way Chime is helping to unlock financial progress for everyday Americans,” Madhu Muthukumar, chief product officer at Chime, said via email. “Early feedback on Instant Loans has been overwhelmingly positive, with extremely high custom Read more
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