SoFi buying small California bank for $22.3 million


The acquisition of Golden Pacific Bank will accelerate the online lender’s effort to become a full-service bank.


SoFi to go public via SPAC with $8.7B valuation


The deal between San Francisco-based lender and Social Capital Hedosophia Holdings Corp. V is latest example of a closely held firm going public by merging with a special purpose acquisition company.


Mike Cagney’s fintech startup pursues bank charter


Figure Technolgies, the home equity lender founded by the former CEO of SoFi, is seeking a national bank charter so it can offer more products and services while reducing the need for state-by-state licenses.


SoFi gets preliminary OK on bank charter, launches credit card


Both developments are part of the company’s strategy of becoming a full-service bank for its young, affluent customer base.


SoFi launches social network for investors


Clients of the challenger bank's robo-adviser are able to see one another's trades, add comments and watch a leaderboard of top investors.


Mike Cagney launches blockchain for loan trading. Will banks go for it?


The former SoFi chief’s latest startup, Figure, has created what it says is a transparent marketplace for buying and selling assets. Some banks have embraced the technology, but other blockchain projects have stalled because lenders don't want rivals to see their data.


Fintech shakeout, Main Street loan quandary, PNC diversifies leadership: Top stories of the week


New president of Promontory Interfinancial Network says recession will cause "hundreds" of nonbank disruptors to fail; lenders face dilemma over offering Main Street loans to noncustomers; PNC Financial expands, diversifies executive leadership team; and more from this week’s most-read stories.


SoFi applies to open a national bank


If it’s approved, the charter is expected to lower the fintech’s cost of funds and allow for more product offerings. It comes nearly three years after SoFi pulled the plug on an earlier effort to open an industrial bank.


Why Samsung is following Apple, Google into consumer banking


In announcing its plan to offer a deposit account and debit card in partnership with SoFi, the mobile phone maker suggested that the coronavirus pandemic will accelerate consumers’ adoption of contactless payments.