Student lending

P2P student lender gets financing; Bitcoin Cash surges


Prodigy Finance, a London-based graduate student lender, gets $240 million in new funding round; Bitcoin Cash value soars.


CFPB Seeks $183.5M from Aequitas Capital for aiding for-profit college


Regulators reach a $183.5 million deal Thursday to get debt relief to 41,000 students of bankrupt Corinthian Colleges.


Bank partnership enables nationwide expansion for student lending startup


MPOWER Financing announced a deal Tuesday with Bank of Lake Mills in Wisconsin that will enable the Washington, D.C.-based company to lend to students in all 50 states.


Vendor of loan technology plots expansion after $13M raise


LendKey, whose software helps financial institutions make student, auto and home improvement loans, closed a Series C round led by a fund whose investors include more than a dozen banks.


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.


Why Cordray needs to go; a rift in bitcoin land


The Wall Street Journal enumerates the reasons why President Trump needs to fire the CFPB director; the bitcoin market is sharply divided over whether it’s a currency or a store of value.


U.S. consumer debt has hit a new record, but lenders shouldn't be spooked


The old record was set just before the Great Recession, and what may be most remarkable is that it took nearly nine years to reach a new milestone.


How reg relief could help borrowers in student loan lawsuits


President Trump’s aim to scale back financial regulations may make it easier for student loan borrowers to maintain federal class actions.


How technology mitigated a crisis in student loan ABS


Navient and Nelnet, the two largest student loan servicers, avoided downgrades on some $18 billion of bonds by extending their maturities. Getting the required consents from investors would normally take ages, but recent innovations speeded the process.


Online lender CommonBond to offer more types of student loans


The company that made its name refinancing student loans plans to delve deeper into originations after a trial run of sorts.