News Topic: Peer-to-peer lending

The San Francisco fintech, which is buying Radius Bancorp, will discontinue peer-to-peer lending and instead offer new products, like high-yield savings accounts, to its retail investors. ... Read full article

Big banks will need to show how well they can withstand three different scenarios before they can pay dividends; the German payments company is still looking for $2 billion of missing funds. ... Read full article

Metro Bank is early-stage talks to buy a peer-to-peer lender, aiming to grow in unsecured lending as the troubled British company's mortgage business comes under pressure. ... Read full article

While LendingClub, Prosper, Avant and SoFi are giving existing borrowers breaks in the short term, they're considering tightening credit as the coronavirus outbreak threatens to drag the economy into a recession. ... Read full article

The heads of the two companies explain how the deal came about, what hurdles they face and how they plan to mash up their very different operations. ... Read full article

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. ... Read full article

The payments company has loaned $5.5 billion to 275,000 small businesses, thanks to a data-driven process free from human interaction. ... Read full article

Online lenders now have close to 40% of the unsecured personal loan market, much of which is refinanced credit card debt. Banks' card portfolios are taking a hit. ... Read full article

TD and several other banks are licensing credit underwriting and fraud prevention technology from the fintech Avant to get their digital-lending products to market faster. ... Read full article

The San Francisco fintech, which uses artificial intelligence to make consumer credit decisions, has raised an additional $50 million. It also announced new partnerships with lenders and plans for a credit card. ... Read full article

To generate revenue, SoLo Funds depends on consumers willing to front funds through its platform. ... Read full article

A group of state regulators has signed off on 14 recommendations, developed by the fintech industry, aimed at streamlining multistate licensing and supervision. ... Read full article

Owners of firms that employ only themselves would prefer to use loans or lines of credit, but more often than not they resort to credit cards, according to a new Fed report. Is this a missed opportunity for banks? ... Read full article

Unlike online lenders, banks are focusing primarily on consumers with solid credit scores. But unsecured loans to prime borrowers have a limited track record, so it’s hard to predict how they’ll perform when the economy inevitably weakens. ... Read full article

The online lender will roll out its first new product in 12 years, a home equity line of credit. But it's taking a different approach than with its original offering. ... Read full article

The San Francisco company, which has racked up big losses over the last two and a half years, signaled Tuesday that it is on a path to profitability after resolving a series of longstanding regulatory problems. ... Read full article

Azlo, Bento, Bank Novo and other neobanks argue they are better at helping small businesses, giving them extra attention, technology and advice. ... Read full article

The Department of Justice and the Securities and Exchange Commission announced settlements Friday related to alleged misconduct that occurred during Renaud Laplanche’s tenure atop the online lender. ... Read full article