Online lending startup Amount raises $81M in round led by Goldman
The tech firm spun off by Avant, which licenses its lending software to banks, has now raised $140 million this year. ... Read full article
News Topic: Avant
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Online lenders seek to balance the needs of borrowers, investors
While LendingClub, Prosper, Avant and SoFi are giving existing borrowers breaks in the short term, they're considering tightening credit as the coronavirus outbreak threatens to drag the economy into a recession. ... Read full article
HSBC USA launches digital lending platform, admits to playing catch-up
The LendingClubs and SoFis of the world have a big head start, but HSBC's U.S. unit says its partnership with the fintech Avant will help it close the gap in online personal loans. ... Read full article
Avant to pay $3.85M to settle allegations of deceiving borrowers
The Federal Trade Commission accused the online lender of numerous violations in connection with its loan servicing practices. In one example, Avant allegedly informed customers that they could make payments by credit card or debit card but then refused to ... Read full article
GM joins Spring Labs' ID verification blockchain
The automaker's finance arm joins Avant, OnDeck Capital and SoFi in the system, which is designed to help verify loan applicants' identities. ... Read full article
Prosper branches out, shifts strategy as it launches second product
The online lender will roll out its first new product in 12 years, a home equity line of credit. But it's taking a different approach than with its original offering. ... Read full article
HSBC U.S. partners with web-based Avant to offer personal loans
The personal lending boom continues: HSBC's U.S. arm is teaming up with Avant, a closely held online lender, to offer unsecured loans to new and existing customers. ... Read full article
Online lenders tighten rules as default wave rattles investors
It's gotten a lot harder to borrow money from the raft of fintech firms looking to bring online lending into the mainstream. ... Read full article
Can blockchain ease banks’ digital-identity concerns?
A startup called Spring Labs has launched a blockchain network with the goal of getting lenders and data providers to share data to help verify customers' identity. ... Read full article
Online lenders spooked by Colorado's tough stance on interest rates
Digital lenders have been partnering with banks to get around state-by-state usury caps, but that approach is facing tougher scrutiny. ... Read full article