Marketplace lending

Readers react to states investigating payroll advance companies and the GOP's weak response to cannabis banking, heed a warning that nonbanks are prepared for CECL and more.

The LendingClubs and SoFis of the world have a big head start, but HSBC's U.S. unit says its partnership with the fintech Avant will help it close the gap in online personal loans.

The card company is buying the corporate-services businesses of Danish payments provider Nets A/S; the online lender’s stock plunged after it missed second quarter earnings expectations.

The San Francisco company forecast a modest profit in the third quarter because its cost-cutting plans are ahead of schedule. It's also starting a program to sell riskier loans to sophisticated investors.

The Upstart Network, the first and only startup to participate in the bureau’s program for promising digital platforms, claims that using nontraditional credit data items has helped loan volume and affordability.

The Atlanta fintech, whose shares have plummeted since it went public last year, also said it will stop providing financial guidance to its investors.

Credible Labs, which lets consumers shop for the best rates on student loans, mortgages and other credits, would be part of an evolving digital strategy at Fox after the multibillion-dollar sale of many of its traditional media assets to Disney.

Though the use of alternative data in lending is seen by some as untested, several fintechs say they couldn't function without it.

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The Pittsburgh bank is using software initially developed by a fellow mutual to help build out its platform.

The online lender is counting on other arrangements with banks — and perhaps even a bank charter of its own — to help recover from the loss of a key partnership.

The decision is a blow to OnDeck, which said Monday that it intends to pursue a bank charter, either by applying for one or by buying a bank.

A study by FinRegLab of six nonbank lenders' use of cash-flow data in underwriting decisions finds this type of "alternative data" helps predict loan performance.

The company revealed its pretax losses for its forays into consumer and other digital banking services, which began in 2016 with the launch of a consumer deposit franchise and an installment loan product.

Shares in the U.K.-based small-business lender fell 29% Tuesday after it sought to recalibrate expectations about its growth trajectory. So far, the company has pulled back lending more in the U.S. than in its other markets.

Facebook’s plan to launch a cryptocurrency has raised concerns that state banking regulators may not be equipped to oversee large, international companies.

In a downturn, some fintechs, such as independent lenders, will be more vulnerable to economic forces than those working to service banks' regulatory needs.

Credit unions can prepare for the next recession by understanding past cycles, utilizing modern technology and training staff.

Former Barclays CEO John Varley was accused of trying to obtain funds to avoid a government bailout; borrowing to pay for weddings surged last year.

Customers of Marcus, the consumer lending arm that launched in 2016, defy easy categorization, according to an executive at the Wall Street bank.