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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.
March 21
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David Cotney, former Massachusetts banking commissioner, will guide compliance for the New Jersey bank, a critical partner for many fintech startups.
March 20
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The Office of the Comptroller of the Currency can give lenders relief from the effects of a recent court decision over interest rate authority, but only if the agency chooses to do so.
March 20
Ballard Spahr LLP -
In a Q&A, CommonBond CEO David Klein discusses how an OCC charter might benefit customers by lowering the cost to run a student loan refinancing business.
March 17
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Banks are losing wealthier underbanked customers to alternative lenders — an undercurrent that is halting progress in expanding credit access for all.
March 17
Aite Group -
Social Finance's online borrowers are defaulting at higher rates than underwriters for one of its bond deals had expected, the latest sign that an industry that hoped to upend banking is now getting tripped up by bad loans.
March 14
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Several startups have announced new funding rounds in the last month. They plan to use the cash to improve their products and ramp up sales.
March 13
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Host Brett King reports from this week's LendIt conference in New York.
March 10
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By relying heavily on where a borrower went to college, online lenders may run afoul with regulators and could be missing out on good credits.
March 9
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No fees, no automated voice response and lots of direct mail are among the investment bank’s tactics for its consumer fintech venture.
March 7
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The Kennesaw, Ga.-based firm, which makes online installment loans to borrowers with blemished credit records, currently operates in 14 states.
March 7 -
The Innovative Lending Platform Association and the Coalition for Responsible Business Finance announced Monday that they are joining forces.
March 6 -
Personal financial management tools have long relied on financial data aggregation. Now, aggregators are hoping traditional lenders will take a cue from alternative lenders and use the technology to quicken their underwriting decisions.
March 6
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Much like how Amazon went from selling books to selling cloud services, the online lenders that succeed well into the future will change how they do business, Scott Sanborn said.
March 6
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Credit unions are working with crowdfunding platforms to help businesses find additional capital.
March 3
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The San Carlos, Calif., firm is following a similar blueprint as other online lenders — launching with a particular loan product, refining its algorithms, and then seeking to expand into other corners of consumer finance.
March 2
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The longtime bank analyst is one of many who lost their jobs when CLSA shut its U.S. equity research unit; marketplace lender forms group to buy $5 billion of loans
February 28
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Prosper Marketplace will receive as much as $5 billion in loan funding under a deal that will provide investors an equity stake in the San Francisco company
February 27
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It’s unclear whether connecting lenders and borrowers over the internet offers any advantages over traditional lending, according to panelists at the Structured Finance Industry Group conference in Vegas.
February 27 -
After recording a $35.9 million quarterly loss, the online small-business lender said that it plans to reduce its annual expenses by $20 million, cut 11% of its staff and more than double its loan-loss provision from a year earlier.
February 16
