Takeaways by Bloomberg AI
A US lender specializing in loans to international students has largely shuttered its operations after losing access to fresh financing, marking one of the most significant corporate collapses triggered by the Trump administration’s immigration crackdown.
The firm, Mpower Financing, had come to rely heavily on borrowers from several African nations, particularly Zimbabwe — a country that the administration added last year to a partial travel-ban list. A person with direct knowledge of Mpower’s lending strategy said the concentration of loans to Zimbabwean students had grown beyond what the company intended, leaving it especially vulnerable to the policy shift.