Marketplace lending

With the purchase of Sweep, Max Levchin's firm is betting that daily engagement with consumers will pay long-term dividends.

How two midsize banks and a marketplace lender are relying on chief culture officers to maintain a lively work environment and preserve their values amid M&A and organic growth.

CommonBond, an online lender that specializes in student loan refinancing, announced Monday that it has sold $150 million of bundled loans to investors.

Recent prosecutions against lenders accused of usury violations will test the government's use of a law more commonly known in organized crime cases.

Illinois, California and New York are all taking initial steps to try to crack down on borrower abuses in the fast-growing digital lending marketplace. The states are facing pressure to intervene because federal agencies have yet to take decisive action.

Capital continues to flow freely into financial technology ventures, many of which are repositioning themselves as aspiring partners for banks rather than would-be disruptors.

Lending Club said Thursday that it has hired Sameer Gulati, formerly of McKinsey & Co., to be its chief operations officer and promoted another executive, Scott Sanborn, to president. Both are newly created positions at the nonbank lender.

LendingClub Corp., a pioneer of online marketplace lending, said it raised rates for borrowers again to reflect a gloomier economic outlook and worse-than-expected performance for some of its riskiest loans.

An online student loan refinancing business that was recently spun off from a Virginia bank has been rebranded as Purefy Inc.

Research published in 2014 found that just 18% of U.S. checking account holders pay 91% of all bank overdraft fees.