Marketplace lending

Fintech companies can help consumers and small businesses obtain credit at lower costs, but it is critical to ensure that these innovative companies do not harm borrowers with predatory or discriminatory lending practices.

Reader reactions to criticism of Jamie Dimon, the House GOP ganging up on Richard Cordray, a bank's decision to part with Excel to measure credit losses, and more.

Upgrade, an online lender started by former Lending Club CEO Renaud Laplanche, will tout credit monitoring and education features to stand out in a crowded field.

Digital lenders have been partnering with banks to get around state-by-state usury caps, but that approach is facing tougher scrutiny.

Following a wave of layoffs, credit concerns and funding issues in 2016, marketplace lenders entered 2017 on "much stronger footing," says Sam Hodges, co-founder and U.S. managing director at Funding Circle.

As online lenders and their vendors step up monitoring, patterns of fraud are emerging.

Ann Marie Mehlum, who has joined a lending platform called SmartBiz Loans after stints as a community banker and an SBA official, says the combination of fintech and old-fashioned banking could bring back small-business loans under $100,000.

None of the initial steps banks can take to modernize business lending are cutting-edge innovation ideas, but they can still improve the borrowing experience, giving businesses fewer reasons to look elsewhere.

Jim Rosenthal previously served as chief operating officer at the Wall Street investment bank. He joins the board of an online lender that has recorded losses in five straight quarters.

David Cotney, former Massachusetts banking commissioner, will guide compliance for the New Jersey bank, a critical partner for many fintech startups.