Lending Club

Online loans leave consumers deeper in debt, Fed research says

11/10/17

Consumers who have borrowed from online lenders owe more and have lower credit scores than similarly situated consumers who have not used online lenders, according to a study released Thursday by the Cleveland Fed. The provocative findings seem likely to spark intense debate.

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LendingClub's pullback amplifies consumer debt-load worries

11/08/17

The San Francisco firm is the latest U.S. lender to tighten credit standards amid concerns that consumers are shouldering too much debt.

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LendingClub originations rose 34% in Q3

11/07/17

The San Francisco-based lender still posted losses in its portfolio, although those declined considerably from the year-ago period.

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Deutsche Bank settles with states; Banks' fleeting victory

10/26/17

German bank says the $220 million settlement closes the book on its Libor-related misdeeds; reopening mandatory arbitration could backfire on banks.

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'Fintechs tend to march to their own rules': former SEC chair Levitt

09/28/17

Arthur Levitt says seemingly daily scandals highlight the lack of oversight and corporate governance shortcomings of financial technology firms, but two marketplace lending executives responded that more mature companies have just as many problems.

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Square applies for a bank license; Fischer resigns from Fed

09/07/17

Company is third fintech firm in the past few months to seek its own bank charter; vice chair’s departure gives Trump four vacancies to fill on the Federal Reserve Board.

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Big banks kick small-business lending into high gear

08/09/17

The largest banks are approving small-business loan applications at the fastest rate since the recession, a sign that that they are willing to assume more risk and taking seriously the threat of competition from online lenders.

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Loan growth resumes, but LendingClub remains in the red

08/07/17

The online consumer lender reported a net loss of $25.4 million, bringing its red ink in the five most recent quarterly reports to more than $200 million.

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Pay attention: Lending Club's first securitization is a big deal

06/26/17

Sponsoring securitizations of the loans funded on its platform will give Lending Club more control over its reputation in the market and make it less beholden to direct loan buyers.

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Biggest online lenders don't always check key borrower details

06/14/17

Two of the biggest online consumer lenders don't always check whether borrowers are lying to them, and if they find errors in an application, they may still approve the loan.

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