News Topic: Lending Club

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The regulator's order moves the San Francisco-based company one step closer to becoming the first online lender to own a bank. ... Read full article

Fintech lenders that reported a surge in missed payments at the start of the pandemic have seen credit quality rebound substantially since. But credit performance could still deteriorate if high unemployment persists and Congress fails to enact more relief ... Read full article

Other challenger banks focused on personal loans have struggled since the onset of the coronavirus pandemic. ... Read full article

The upstarts enjoyed rapid growth during the long economic expansion. Now they are on the ropes. ... Read full article

The online lender has deployed new software designed to spot security risks early, especially the kind of cloud-data issues that led to the Capital One-Amazon breach. ... Read full article

Lenders are set to flood the SBA with new PPP applications; long nights and weekends the new normal; Fifth Third rethinks new-branch designs in light of coronavirus; and more from this week's most-read stories. ... Read full article

The online lender, reeling from the economic fallout of the coronavirus pandemic, also said it is cutting senior executives' salaries by 25%. ... Read full article

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

The heads of the two companies explain how the deal came about, what hurdles they face and how they plan to mash up their very different operations. ... Read full article

LendingClub and Varo Money are making inroads into the traditional financial system, but other fintechs still face long odds. ... Read full article

The online lender's deal for Boston-based Radius would be the first in history in which a fintech buys a mainstream bank. ... Read full article

Easy credit has given way to cautiousness, with financial technology upstarts now seeking households with higher incomes, above-average credit scores and less debt relative to their wages. ... Read full article

A more practical approach for U.S. regulators on whether to bring fintechs into the banking fold might be ‘better the devil you know than the devil you don’t.’ ... Read full article

The company has rolled out an online platform for firms considering marketplace loans as an asset class. ... Read full article

Renaud Laplanche, one of the first fintech disruptors, is launching an unusual type of credit product at Upgrade, his new company, that is a cross between a credit card and an unsecured loan. ... Read full article

Digital-first lenders more than doubled their market share in the last four years, according to a report by Experian. ... Read full article

The accounting standard is coming regardless of a delay. It will bring some nonbank lenders to the forefront of banking competition. ... Read full article