As the dust continues to settle from the great Lending Club explosion, the big banks of Wall Street are reportedly inking up their Plan Bs when it comes to exposure to those loans should the market deteriorate more. The list, according to Bloomberg, includes Credit Suisse...
With all the controversy surrounding Lending Club at the moment, the subject of payday lending has become a leading topic of conversation across the industry. But in all the talk about payday lending companies, the borrower, who makes up the other side of the equation,...
These days, payday lending is not a subject that lends itself to much in the way of rational discourse. It does much better at attracting passionate disagreement among partisans. Opponents of the practice note that, in its most vicious form, payday lending is an expensive predatory...
Lending Club – and the alternative lending industry overall – has lost a lot of support in just a few short weeks following the sudden departure of the firm’s CEO, allegations of mismanaged investments and talk by the U.S. Treasury Department about the need for...
Finance and technology connect in ways that speed capital to SMBs and other enterprises, when and where it is needed. That won't change even against a more onerous backdrop, says Bizfi Founder Stephen Sheinbaum, and should make the industry stronger.
Consumer lending platform Avant is giving pink slips to 60 employees, or about 7 percent of its workforce. The news came late last week amid what Crain’s Chicago Business said is “an abrupt negative turn in investor sentiment toward consumer lenders of all stripes.” The downturn is...
In the continuing emergence of details surrounding Lending Club and its woes in the wake of the resignation earlier this month of its chief executive officer, Reuters reported on Friday (May 20) that Citigroup backed off from supporting the company. The newswire said that a May...
Although the online lending market has taken some hits this year, there’s one online lender who has secured a top approval from Moody’s. Social Finance, commonly known as SoFi, has received a triple-A rating for its securitization bond deal. This is the highest credit rating from...
What’s a millennial to do? They want to have those valuable life experiences (like Coachella or a weekend in Costa Rica), but they just don’t seem to have the cash. Well, now, they can have their experience now and pay for it later, without the...
