U.K. payday lending startup Wonga has come to the end of the road, having filed for administration (similar in concept to bankruptcy in the U.S.) in the closing days of last week. The firm has confirmed that it has appointed Grant Thornton as administrators who...
The U.K. watchdog in charge of investor oversight proposed tough new regulations regarding peer-to-peer (P2P) lending platforms, in a bid to help consumers wade through the new landscape, according to a report by Reuters. The Financial Conduct Authority is looking to tighten up oversight over...
One U.S. lawmaker has begun to inquire about SMB alternative lending practices, according to JD Supra news reports. Rep. Emanuel Cleaver II (D-Mo.) has reportedly sent letters to five alternative SMB lending companies with questions regarding borrower protections, anti-discrimination efforts, transparency and other factors. “While FinTech lending...
The Treasury Department released its "timely" assessment of the online lending industry after examining 100 online lenders. The assessment says that technology is a great enabler but to what end? The department has some thoughts on how to answer that question, and one of them,...
September 04, 2018
U.K. payday lending startup Wonga has come to the end of the road, having filed for administration (similar in concept to bankruptcy in the U.S.) in the closing days of last week. The firm has confirmed that it has appointed Grant Thornton as administrators who will handle the details for four of Wonga’s business units: […]
July 27, 2018
The U.K. watchdog in charge of investor oversight proposed tough new regulations regarding peer-to-peer (P2P) lending platforms, in a bid to help consumers wade through the new landscape, according to a report by Reuters. The Financial Conduct Authority is looking to tighten up oversight over crowdfunding platforms, which provide short-term lending for small businesses and […]
