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.
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.
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.
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.
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.
