Marketplace lending

Can AI’s ‘black box’ problem be solved?

12/31/18

Bank technologists see the potential for AI in lending, money laundering detection, fraud and other areas. Regulators and bank executives insist on “explainability.”

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Colorado raises the stakes in lawsuit against marketplace lenders

12/31/18

The state has expanded the scope of ongoing legal actions against Avant and Marlette to include several securitization trusts and trustees.

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Why banks shouldn't make online banking too easy

12/27/18

Rushing to copy the Amazon experience, banks and fintechs are focused on simplifying financial services online. A Georgia Tech researcher says that approach is risky.

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OnDeck to offer equipment financing to small businesses

12/19/18

The online lender will roll out the business early next year with a focus on loans of less than $100,000.

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Nonbanks need to get serious about self-regulation

12/14/18

The alternative is waiting for state and federal regulators to take steps that could disrupt the flow of capital and put some firms out of business.

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OCC sees sharp drop in mortgages serviced by large banks

12/12/18

An agency report said servicing portfolios have shrunk by nearly half in 10 years as much of the mortgage market has shifted to nonbanks.

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When a credit union group buys a fintech that works with banks

12/11/18

CUNA Mutual, a service provider to credit unions, recently bought Mirador, which is heavily dependent on bank relationships. The challenge now is keeping those clients in the fold.

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SoFi is said to cut 7% of staff, revamp ailing mortgage unit

12/03/18

Social Finance, the lending and refinancing startup valued at more than $4 billion, is cutting about 7% of its staff, according to a person familiar with the matter.

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Onur Genç to become BBVA global CEO in December

11/28/18

He will take over as CEO from Carlos Torres Vila, who becomes chairman at year-end. Still unknown: who will run the company's U.S. bank once Genç moves up.

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Former CFPB chief Raj Date joins Numerated as investor, adviser

11/28/18

Date, now a venture capitalist, worked with the lending software company's CEO, Dan O'Malley, at Capital One in the 2000s.

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