News Topic: Prosper Marketplace

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

Easy credit has given way to cautiousness, with financial technology upstarts now seeking households with higher incomes, above-average credit scores and less debt relative to their wages. ... Read full article

Prosper hopes to do for lines of credit what it did for unsecured personal loans, while BBVA hopes to provide a better experience for customers. ... Read full article

As the consumer lender announced its seventh consecutive profitable quarter, its CEO bragged that his company is better positioned than the likes of Goldman Sachs and LendingClub. ... 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

LendingClub, Prosper, SoFi and other fintechs are driving the expansion, according to new data from TransUnion. ... Read full article

It's gotten a lot harder to borrow money from the raft of fintech firms looking to bring online lending into the mainstream. ... Read full article

The San Francisco-based online lender reported a net loss of $115 million for 2017, more than half of which was connected to warrants issued in a deal that stabilized the struggling firm. ... Read full article

David Nelms said that many digital lenders do not understand how to underwrite personal loans properly, and he took a dig at their lack of profitability. The upstarts say their industry's ability to attract capital speaks for itself. ... Read full article

A bill that would ensure fintechs can continue to partner with banks to make loans at interest rates that exceed state caps drew some bipartisan support on Wednesday, despite opposition by consumer groups. ... Read full article

The Cleveland Fed's conclusion that U.S. consumers are typically worse off after getting online loans encountered strong pushback from their advocates. ... Read full article

The San Francisco company is one of numerous online lenders that are struggling to become profitable. ... Read full article

The San Francisco firm is the latest U.S. lender to tighten credit standards amid concerns that consumers are shouldering too much debt. ... Read full article

It is the latest of several popular apps to close down in recent weeks. ... Read full article

The Fed wants directors to “focus on the big issues” not minutia; Softbank to invest $250 million in online small business lender. ... Read full article

The move comes at a time when both Prosper and the broader industry it helped to pioneer are struggling. ... Read full article

Two of the biggest online consumer lenders don't always check whether borrowers are lying to them, and if they find errors in an application, they may still approve the loan. ... Read full article

Prosper Marketplace will receive as much as $5 billion in loan funding under a deal that will provide investors an equity stake in the San Francisco company ... Read full article