Marketplace lending

In a setback for the U.S. consumer finance industry, the Supreme Court said Monday that it will not review a lower court's decision that bolstered the ability of states to enforce bans on high-cost lending.

Perhaps you read on vacation to escape the financial services grind, or perhaps you read to hone your business craft. Numerous titles on this year's list — recommended by American Banker readers, BankThink contributors, our staff and others — fall somewhere in between. Read about the lives of figures like Elon Musk or Barney Frank. Understand disruption, human error and how to manage stress. Or, perhaps you just want some insight into the sociopath's playbook. It's all here.

Kabbage is licensing its digital lending technology to one of Canada's largest banks, which plans to offer an online application process to small businesses.

Prosper Marketplace is rolling out a revamped website that is designed to make loans it sells more attractive to individual investors.

Financial innovation, including distributed ledger technology and marketplace lending, has emerged as a new source of risk to the U.S. financial system, according to a report issued Tuesday by the Financial Stability Oversight Council.

A small Boston bank is betting it can attract tens of thousands of millennials by giving them a chance to pay off their student loans a few months early, rather than offering more common incentives such as interest on their deposits or airline miles for their purchases.

Renaud Laplanche, the LendingClub founder who stepped down as its leader in a shakeup last month, sold off part of his stake in the company, according to a regulatory filing.

A growing number of marketplace lenders and other fintech companies say they no longer use FICO scores or are using them in a limited way. The open question is whether their alternative methods will be more effective.

State student loan authorities sense a business opportunity helping graduates who are gainfully employed lower their payments. Their low-cost funding could put them in competition with banks and marketplace lenders.

Lending Club has revised its loan sales data for the last week of May after discovering that the numbers included loans that it actually bought itself.