Marketplace lending

Kabbage to offer custom loans for as short as three days


Customers of the online lender's payments service can select their own loan terms.


House panel to discuss 'rent-a-bank' concerns in two February hearings


The Financial Services Committee will also hold hearings next month on monetary policy, the CFPB and "astroturfing" worries, among other things.


Online lenders confront deepfake threat


Some fraudsters pose as loan applicants and submit doctored video or photos of property and assets to scam lenders they won't see in person. Firms like Elevate Funding and Credibly are fighting back.


Sallie Mae's foray into personal loans proves short-lived


The company best known for student lending expanded into personal lending less than two years ago. Now it says it is refocusing on core strategic priorities.


Regions' plan to boost lending in 2020


Total loans at Regions Financial fell slightly last year, but executives say a shift in consumer lending priorities and more aggressive C&I lending will start to pay off this year.


'Out of the shadows': Use of alternative data in lending gains ground


Financial regulators’ statement cautiously encouraging banks to go beyond traditional underwriting in their lending decisions is a big step forward for the use of alternative data and artificial intelligence, bankers say.


Consumer credit will remain strong in 2020: TransUnion


Casting aside recession fears, the credit bureau predicts credit cards, mortgages, auto loans and unsecured personal loans should all perform well — including those extended by online lenders.


Upstart to help banks pay off customers' credit card bills


It sounds like something that should be simple — letting a customer pay off their credit cards with a new personal loan — but it's not, according to Dave Girouard, Upstart's CEO.


SoFi cleared to offer crypto in New York


The online lender, which has received state approval to establish a virtual currency business, can now offer a full range of investment services — including trading in digital assets — in New York.


There's a better way to regulate small-dollar lending


Instead of imposing interest rate caps, policymakers should require online lenders to provide clear disclosures and promote partnerships with banks.