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It is time for institutions to act independently of the Federal Reserve and raise their loan interest rates to improve returns.
February 23
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OnDeck Capital in New York reported a $5.1 million loss in the fourth quarter as revenue failed to keep pace with rising expenses.
February 22 -
The terms "peer-to-peer" and "marketplace" lending are often used interchangeably to define all manner of loans made through the Internet. The reality, though, is that aside from lacking storefronts, the many firms now operating in this arena have little in common with one another. Here's a guide to help tell them apart.
February 22
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About 10% of midsize businesses say they want to develop a relationship with nonbank providers, such as marketplace lenders or business development companies, and even more are said to be considering switching banks.
February 17
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The burgeoning industry has been hoping the Supreme Court would overturn a problematic lower-court ruling, but the unexpected passing of a conservative stalwart makes that outcome less likely.
February 16 -
Inspired by marketplace lenders, Live Oak Bancshares created a largely digital product that can make a credit decision on a small-business loan within 48 hours. The product, which combines human decision-making and automated credit scoring, could go national as early as next year.
February 11
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Disruption in credit scoring is healthy, but the new models touted by marketplace and other alternative lenders are still untested, especially about how loans will perform in a downturn.
February 11
Columbia University -
Lending Club reported record earnings in the fourth quarter thanks to soaring loan demand.
February 11 -
The White House and other Democrats have long pushed for banks to offer affordable small-dollar loans as an alternative to payday loans and other costlier credit, but banks have struggled to make them profitable and safe for consumers.
February 8 -
LendingClub won over debt investors with algorithms that quickly assess borrowers' creditworthiness, making it easy for banks, hedge funds and others to snap up billions of dollars of consumer loans arranged through its online platform. Those algorithms still have some kinks.
February 5
