Marketplace lending

Where is this online lender using AI? Everywhere

09/05/19

Enova has used AI in credit decisions for years. Now it’s having AI do the work of document verification, know-your-customer checks and more.

[more]

Kabbage will buy small-business data provider

09/03/19

The acquisition of Radius Intelligence fits with the online lender's existing focus on small commercial borrowers.

[more]

Has removing tax lien data from credit records led to more bad loans?

09/03/19

A year after the major credit bureaus agreed to strip tax liens and civil judgments from consumers' credit files, a new study says it is hampering lenders' credit decisions. But proponents of the move insist it was the right call.

[more]

Startup caters to millennials tired of paying in cash 'like a gangster'

08/29/19

Kristy Kim was an immigrant success story with a degree from Berkeley and a lucrative job — except her lack of credit history precluded her from getting a car loan. She started TomoCredit to help the many young folks who struggle to qualify for a credit card.

[more]

P2P lenders faces challenges; Student debt relief scams

08/27/19

An economic downturn is likely to force industry consolidation; the legit firms only offer borrowers things they can get for free, while others are scams.

[more]

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.

[more]

'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.

[more]

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.

[more]

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.

[more]

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.

[more]