Ann Marie Mehlum, who has joined a lending platform called SmartBiz Loans after stints as a community banker and an SBA official, says the combination of fintech and old-fashioned banking could bring back small-business loans under $100,000.
None of the initial steps banks can take to modernize business lending are cutting-edge innovation ideas, but they can still improve the borrowing experience, giving businesses fewer reasons to look elsewhere.
Jim Rosenthal previously served as chief operating officer at the Wall Street investment bank. He joins the board of an online lender that has recorded losses in five straight quarters.
The Office of the Comptroller of the Currency can give lenders relief from the effects of a recent court decision over interest rate authority, but only if the agency chooses to do so.
In a Q&A, CommonBond CEO David Klein discusses how an OCC charter might benefit customers by lowering the cost to run a student loan refinancing business.
Social Finance's online borrowers are defaulting at higher rates than underwriters for one of its bond deals had expected, the latest sign that an industry that hoped to upend banking is now getting tripped up by bad loans.
