Fintechs look to fill void in private student lending left by banks


Many banks remain wary of student loans given the government's dominance in the market, but some fintechs see untapped potential.


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


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.


Prosper branches out, shifts strategy as it launches second product


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.


FTC puts student lenders on notice by citing misleading ads at SoFi


The Federal Trade Commission, which issued a formal complaint against SoFi, is urging other lenders to review their advertisements for false claims about the benefits of refinancing.


Former SoFi CEO's startup unveils digital home equity loans


Mike Cagney’s current venture, Figure Technologies, is offering consumers the ability to apply online for home equity loans and get funding in as little as five days.


Cagney unruffled by revelations; FHFA head accused


The former SoFi CEO raises funds for his new venture despite recent admissions about dating employees; female employee says Mel Watt harassed her.


Personal loans surge to a record high


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


PwC held accountable for bank failure; Fed gets friendly


A judge rules the accounting firm should have detected the fraud that brought down Colonial Bank; Fed deal with Goldman and Morgan Stanley shows softer side.


SoFi CEO's strategy for success: 'Make every transaction faster'


The online lender wants to provide instant payments and securitizations alongside instant loans, according to CEO Anthony Noto.


Online lenders tighten rules as default wave rattles investors


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