Marketplace lending

Hensarling drops Durbin repeal; Court hears CFPB challenge

05/25/17

House financial services committee head agrees to drop swipe-fee repeal in order to save Financial Choice Act; Federal appeals court appears skeptical about declaring agency's makeup unconstitutional.

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Close loopholes for online lenders, N.Y. regulator urges Albany

05/22/17

Online lenders are evading New York regulations by claiming their loans are “made” by federally chartered or out-of-state partner banks, Department of Financial Services Superintendent Maria Vullo told lawmakers Monday.

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Lending Club hires PayPal exec as president

05/16/17

Steve Allocca is expected to play a key role in the online lender’s efforts to restart loan growth.

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SoFi scales up wealth business in bid for more wallet share

05/16/17

The Silicon Valley lender that caters to affluent millennials has ambitions to become a one-stop shopping destination for financial services.

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As VCs pivot from lenders, case for deposit-side fintech is less clear

05/12/17

Brendan Dickinson of Canaan Partners says PFM startups have deep relationships with customers unlike online lenders, but the revenue model isn't as strong.

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Fintechs need regulatory clarity now more than ever

05/12/17

Compliance flexibility, state law harmonization and funding transparency requirements are among the regulatory steps that can encourage continued innovation.

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In the age of fintech, regional banks need to embrace change

05/11/17

Fintech has upended parts of the banking industry and made old ways of doing business obsolete. But that's also what makes it an exciting time to be a banker, says Citizens Bank CEO Bruce Van Saun.

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OnDeck Capital's Chairman survives challenge from activist shareholder

05/10/17

Noah Breslow, who drew opposition from a hedge fund that wants the online small-business lender to pursue a new course, won 84% of the vote Tuesday.

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OnDeck’s new strategy shows online lending’s go-go days are over

05/08/17

Once focused mainly on growth, the New York-based small-business lender said it will lay off employees and cut other expenses in an effort to become profitable. The moves are a sign of waning patience among investors in the once-frothy sector.

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Small banks warm up to marketplace lending for SBA expansion

05/05/17

Five Star Bancorp in California is the latest bank to work with a marketplace lender on referrals. The move comes as the SBA programs have record volumes while concerns linger about banks working with third parties.

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