Marketplace lending

Orchard Platform Markets, a provider of lending data and services backed by the former heads of Citigroup and Morgan Stanley, is set to be acquired by the small-business lending platform Kabbage, said people familiar with the deal.

For $29 a month, MoneyLion customers will receive a checking account with no minimum balance requirement and will have access to a large a network of ATMs, as well as low-interest personal loans and financial advice.

Upgrade's new product, unveiled Tuesday, is aimed at consumers who are expecting a big expense but may not need to borrow all the money at once. Unlike a home equity line of credit, the loan can be approved in minutes because there is no need for collateral or an appraisal process.

Gill, who spent 14 years at Goldman, will fill a role that has been vacant since last summer at SoFi.

Social Finance said it will start offering deposit accounts and debit cards to some customers next month. It's the first major new product rollout under Chief Executive Officer Anthony Noto.

The Atlanta bank will hold the loans on its books and pay Microf for a fee the referrals. The partnership will further its expansion in consumer lending.

The agency would be subject to congressional and White House oversight; American customers will be able to send money to 200 countries.

The state’s banking regulator said that the online consumer lender made over 46,000 small loans to Bay State consumers without a license. The company surrendered its license to the state regulator as part of a 2011 consent order.

The Atlanta company partners with banks and merchants to offer consumer installment loans. It could seek to raise as $1 billion as early as this summer, according to a published report.

No reason was given for his exit by the Silicon Valley lender, which named another prominent economist, Susan Athey of Stanford, to its board of directors.