News Topic: Social Finance
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SoFi CEO dives deeper into crypto with bitcoin, Ethereum rewards
Wells Fargo can upend student refis, but will it?
Cheap funding and marketing muscle could give it an advantage over existing lenders, but this corner of the market may not be big enough to move the needle for the bank. ... Read full article
BBVA-backed fintech launches global bank account
Denizen is designed for expats and migrants to receive money and make payments without international transfer fees or currency exchanges. ... Read full article
Not-so-friendly competition: Discover CEO bashes online lenders
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
Medical residency refis may be just what the doctor ordered
Residents' low incomes usually disqualify them for standard student loan refinancings, but SoFi and other lenders describe these borrowers as strong credits with high earnings potential who could offset some of the risks lurking in student loan pools. ... Read full article
Capital One's personal finance app Level Money to close
It is the latest of several popular apps to close down in recent weeks. ... Read full article
'Vandalism is never minor in banking': Comments of the week
Readers question acting comptroller Noreika, weigh in on SoFi’s charter application, defend Trump’s exit from the Paris Accord, and more. ... Read full article
SoFi's bank bid faces uphill battle as opponents unite
The marketplace lender's application for an industrial bank charter is under fire from small banks and progressives, who say it could violate the barrier between banking and commerce and shut out middle-class and lower-income consumers. ... Read full article