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Jan. 30, 2018
A new agreement between MetaBank and New York-based Liberty Lending LLC will bring Meta Financial Group into the direct-to-consumer credit business by providing loans to Liberty Lending customers.
Under the three-year program agreement, Meta expects to originate between $500 million and $1 billion in personal loans. In 2016, Meta acquired Specialty Consumer Services, which is now a division of MetaBank and will be the platform to launch the Liberty Lending program and similar ones.
“We are excited to partner with a respected and growing brand in online lending and look forward to working together to deliver best-in-class loan products to consumers,” said Brent Turner, executive vice president and head of consumer lending at Meta. “Furthermore, leveraging the underwriting expertise and consumer credit experience of the SCS team provides us with great resources to accomplish our objectives in consumer credit.”
The loans are expected to be closed-end installment loans between $3,000 and $45,000 with a duration of 13 to 60 months.
“Liberty Lending’s mission is to provide innovative borrowing solutions to deserving customers,” said Bill Yialamas, CFO of Liberty Lending. “The partnership will enable Liberty Lending to further deliver on its mission to customers by leveraging Meta’s wealth of resources and expertise.”
Today is forecast to be Much Cooler than yesterday. Windy, snow showers ending early tonight.
Friday 11/16 20%
High 40° / Low 16°
A mix of clouds and sun in the morning followed by cloudy skies during the afternoon. A shower of rain or wet snow possible. High around 40F. Winds SE at 10 to 15 mph.
Saturday 11/17 0%
High 24° / Low 14°
Partly cloudy skies in the morning will give way to cloudy skies during the afternoon. High 24F. Winds N at 15 to 25 mph.
Sunday 11/18 0%
High 40° / Low 19°
Sunny skies. High near 40F. Winds WSW at 10 to 15 mph.
A new agreement between MetaBank and New York-based Liberty Lending LLC will bring Meta into the direct-to-consumer credit business by providing loans to Liberty Lending customers.
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