Marketplace lending

Will banks be pulled into GameStop uproar?

02/04/21

Banks weren't involved in the trading frenzy, but some observers say the regulatory response should address risks to all financial institutions.

[more]

Fresh off IPO, Upstart aims to push boundaries of AI-based lending

12/20/20

The online lender, which raised $240 million, wants to take its artificial intelligence technology for evaluating borrowers to the next level and expand its partnerships with banks, its CEO says.

[more]

Why PPP fraud hit fintechs harder than banks

11/11/20

Scammers may have had more success at duping fintechs than banks in obtaining Paycheck Protection Program loans. But there are reasons for this apparent disparity.

[more]

End of an era: LendingClub to drop P2P platform

10/08/20

The San Francisco fintech, which is buying Radius Bancorp, will discontinue peer-to-peer lending and instead offer new products, like high-yield savings accounts, to its retail investors.

[more]

One lender's ideas on how to save small business

09/29/20

Kabbage co-founder Kathryn Petralia, whose company is being sold to American Express, discusses government and financial-sector lifelines she says could help businesses that have been hit hardest by the pandemic.

[more]

Online loans are holding up better than expected

09/08/20

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 measures.

[more]

Colo. 'true lender' settlement is path forward for bank-fintech partnerships

08/31/20

The agreement between Colorado authorities, marketplace lenders and banks offers a way to structure partnerships without triggering the wrath of state regulators.

[more]

Mike Cagney launches blockchain for loan trading. Will banks go for it?

08/25/20

The former SoFi chief’s latest startup, Figure, has created what it says is a transparent marketplace for buying and selling assets. Some banks have embraced the technology, but other blockchain projects have stalled because lenders don't want rivals to see their data.

[more]

States sue FDIC over 'rent-a-bank' partnerships

08/20/20

A group of eight Attorneys General filed suit against an FDIC final rule related to ‘rent-a-bank’ partnerships, mirroring a similar suit filed against the Office of the Comptroller of the Currency last month.

[more]

Why Amex is buying Kabbage

08/18/20

American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting.

[more]