The nonprofit is turning to banks and social impact investors to support a newly created fund designed to significantly increase the size of its loan portfolio over five years.
MSD Capital, which manages the assets of Michael Dell, and Endicott Management will pay $141 million for a 15% stake in the U.S. unit of Israel's Bank Leumi.
The consumer banking experience still needs work. But instead of investing money in consumer-facing products, we must invest in critical yet less sexy infrastructure improvements.
Policymakers speak of expanding consumer choice, but for the vast majority of borrowers and investors, standardizing choices that make the most financial sense has greater merit.
