Marketplace lending

Fintech firms have the federal option they have long sought, but meeting the agency’s application requirements will not be easy.

The New York-based online lender is turning to two European banks to fund loan growth in its overseas markets.

The appointment of David Solomon, who will take over for retiring CEO Lloyd Blankfein, has not altered the bank's aggressive plan to build a mobile phone-based bank for consumers in the U.S. and beyond.

The company, which is dealing with a lawsuit from the Federal Trade Commission tied to certain fees, hired Ronnie Momen from GreenSky as its chief lending officer.

The New York State Department of Financial Services report recommended putting online lenders on a more equal playing field with traditional firms.

The online lender wants to provide instant payments and securitizations alongside instant loans, according to CEO Anthony Noto.

A bill moving through the California Legislature seeks to tame the largely unregulated world of online small-business lending. If passed, it would be the first of its kind nationally, but so far it has failed to satisfy either the industry or its critics.

With the question of a federal charter still looming, Treasury's last report on changes to the financial regulatory system will focus on nonbanks and new tech startups.

It's gotten a lot harder to borrow money from the raft of fintech firms looking to bring online lending into the mainstream.

For many borrowers, near-guaranteed approvals and faster turnaround times are more important than the lower rates offered by banks and credit unions.