Marketplace lending

Where is this online lender using AI? Everywhere


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.


Kabbage will buy small-business data provider


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


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


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.


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


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.


P2P lenders faces challenges; Student debt relief scams


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.


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


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.


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


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.


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


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.


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


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.


LendingClub eyes 3Q profit, looks to reopen credit spigot


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.