Marketplace lending

The British banking giant has been testing its new online lending platform with a handful of its U.S. customers and plans to roll it out in full force next year. It's all part of a broader effort to expand its U.S. consumer business beyond credit cards.

Fed researchers purported to show that consumers who use peer-to-peer loans have bad financial outcomes, but questions quickly emerged about the data they used.

The report’s authors presented findings that seemed to reflect issues with the peer-to-peer lending industry, but they actually relied on data from a much broader category of loans.

Readers weigh in on the departure of Richard Cordray, debate whether online lenders are akin to subprime lenders, offer praise of a community banker, and more.

A bill that would ensure fintechs can continue to partner with banks to make loans at interest rates that exceed state caps drew some bipartisan support on Wednesday, despite opposition by consumer groups.

Evidence that the credit characteristics of online installment borrowers at the time of repayment are consistently worse than at the time of borrowing should be a sobering thought for lenders that have not been fully tested in a credit downturn.

The Cleveland Fed's conclusion that U.S. consumers are typically worse off after getting online loans encountered strong pushback from industry groups and the company that provided the data.

The San Francisco company is one of numerous online lenders that are struggling to become profitable.

Consumers who have borrowed from online lenders owe more and have lower credit scores than similarly situated consumers who have not used online lenders, according to a study released Thursday by the Cleveland Fed. The provocative findings seem likely to spark intense debate.

The regional bank’s first-year CEO is doing some expected things, like offering more products through digital channels, and making a few surprising moves, like inviting all credit card customers to switch to lower-rate loans.