Marketplace lending

Praise and scorn for California's new business loan disclosure plan

08/18/19

Under a state proposal, annual percentage rates would have to be disclosed on nonbank commercial loans of $500,000 or less. Lenders' responses have been mixed depending on their business model.

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'A wolf in sheep's clothing': Comments of the week

08/15/19

Readers react to states investigating payroll advance companies and the GOP's weak response to cannabis banking, heed a warning that nonbanks are prepared for CECL and more.

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HSBC USA launches digital lending platform, admits to playing catch-up

08/14/19

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.

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Mastercard’s biggest acquisition; GreenSky puts up for-sale sign

08/07/19

The card company is buying the corporate-services businesses of Danish payments provider Nets A/S; the online lender’s stock plunged after it missed second quarter earnings expectations.

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LendingClub eyes 3Q profit, looks to reopen credit spigot

08/06/19

The San Francisco company forecast a modest profit in the third quarter because its cost-cutting plans are ahead of schedule. It's also starting a program to sell riskier loans to sophisticated investors.

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Nonbank lender’s results bolster case for alternative data, CFPB says

08/06/19

The Upstart Network, the first and only startup to participate in the bureau’s program for promising digital platforms, claims that using nontraditional credit data items has helped loan volume and affordability.

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GreenSky exploring potential sale after earnings disappoint

08/06/19

The Atlanta fintech, whose shares have plummeted since it went public last year, also said it will stop providing financial guidance to its investors.

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Fox agrees to buy fintech for $265 million

08/05/19

Credible Labs, which lets consumers shop for the best rates on student loans, mortgages and other credits, would be part of an evolving digital strategy at Fox after the multibillion-dollar sale of many of its traditional media assets to Disney.

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Online lenders make case for cash-flow data while acknowledging pitfalls

08/05/19

Though the use of alternative data in lending is seen by some as untested, several fintechs say they couldn't function without it.

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The JPM-OnDeck split, Truist's tech plans, Capital One's breach: Top stories of the week

08/02/19

JPMorgan Chase ends business loan partnership with OnDeck; Truist out to prove it can best the megabanks in tech; Capital One's data breach was bad, but it could've been worse; and more from this week's most-read stories.

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