News Topic: Lending Club

LendingClub, Prosper, SoFi and other fintechs are driving the expansion, according to new data from TransUnion. ... Read full article

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

Ryan, McConnell say they have a deal on a bipartisan Dodd-Frank rollback; New York won more than $5 billion in settlements from big banks under the former AG. ... Read full article

Legal costs and legacy issues related to previous management continue to weigh on the online lender's results. ... Read full article

Bank’s net income plunges, will focus on Europe growth; FTC says the company charged hidden fees. ... Read full article

The Federal Trade Commission alleges in a lawsuit that the company's "no-hidden-fee" pledge is deceptive. LendingClub says the claims are unwarranted. ... Read full article

As upstart companies mature, they face pressure to develop deeper relationships with their customers. That is leading some to offer to a wider range of products, including deposit accounts. ... Read full article

The state’s banking regulator said that the online consumer lender made over 46,000 small loans to Bay State consumers without a license. The company surrendered its license to the state regulator as part of a 2011 consent order. ... Read full article

No reason was given for his exit by the Silicon Valley lender, which named another prominent economist, Susan Athey of Stanford, to its board of directors. ... Read full article

LendingClub, Marlette and others are looking at additional changes to both their securitization and whole-loan-sale programs that could further broaden their investor bases. ... Read full article

The online lender continues to contend with the fallout of a 2016 scandal that led to the ouster of its founder and CEO. ... Read full article

David Nelms said that many digital lenders do not understand how to underwrite personal loans properly, and he took a dig at their lack of profitability. The upstarts say their industry's ability to attract capital speaks for itself. ... Read full article

The late-payment rate on loans frequently used to consolidate credit card debt hit its highest level in more than four years. ... Read full article

The people-helping-people model proffered by LendingClub and others quickly foundered, but several startups aim to bring it back with the help of distributed ledger technology. ... Read full article

Fed's supervision chief wants more openness on bank stress tests; cybercurrency jumps 40% in 40 hours, climbing past $19,000. ... Read full article

The British banking giant has been testing its new online lending platform with a handful of its U.S. customers and plans to roll it out in full force next year. It's all part of a broader effort to expand its U.S. consumer business beyond credit ... Read full article

A bill that would ensure fintechs can continue to partner with banks to make loans at interest rates that exceed state caps drew some bipartisan support on Wednesday, despite opposition by consumer groups. ... Read full article

The Cleveland Fed's conclusion that U.S. consumers are typically worse off after getting online loans encountered strong pushback from their advocates. ... Read full article