Marketplace lending

It's gotten a lot harder to borrow money from the raft of fintech firms looking to bring online lending into the mainstream.

For many borrowers, near-guaranteed approvals and faster turnaround times are more important than the lower rates offered by banks and credit unions.

A British court throws out Serious Fraud Office charges that the bank conspired with Qatari investors to prop it up; investigators open 70 cases against potentially fraudulent cyber deals.

Legal costs and legacy issues related to previous management continue to weigh on the online lender's results.

The online business lender would have reported its second straight quarterly profit if not for one-time costs tied to layoffs and lease terminations.

Using Orchard’s data science smarts, Kabbage intends to offer new payment products to small businesses and loan portfolio insights to financial institution partners.

The Federal Trade Commission alleges in a lawsuit that the company's "no-hidden-fee" pledge is deceptive. LendingClub says the claims are unwarranted.

Banks may need to do more to help small businesses after a hurricane, flood or other calamity as those firms tend to favor nonbank lenders after an emergency for a number of reasons, according to research by four regional Federal Reserve banks.

The Wall Street giant's acquisition of the app maker Clarity Money is only one part of a long-term strategy to build a digital retail bank from the ground up.

New Resource Bank and P2Bi are splitting the risk and revenue associated with asset-based loans.

The addition of a personal finance app rounds out the loan and deposit-account offerings at the online lender Marcus.

As upstart companies mature, they face pressure to develop deeper relationships with their customers. That is leading some to offer to a wider range of products, including deposit accounts.

Orchard Platform Markets, a provider of lending data and services backed by the former heads of Citigroup and Morgan Stanley, is set to be acquired by the small-business lending platform Kabbage, said people familiar with the deal.

For $29 a month, MoneyLion customers will receive a checking account with no minimum balance requirement and will have access to a large a network of ATMs, as well as low-interest personal loans and financial advice.

Upgrade's new product, unveiled Tuesday, is aimed at consumers who are expecting a big expense but may not need to borrow all the money at once. Unlike a home equity line of credit, the loan can be approved in minutes because there is no need for collateral or an appraisal process.

Gill, who spent 14 years at Goldman, will fill a role that has been vacant since last summer at SoFi.

Social Finance said it will start offering deposit accounts and debit cards to some customers next month. It's the first major new product rollout under Chief Executive Officer Anthony Noto.

The Atlanta bank will hold the loans on its books and pay Microf for a fee the referrals. The partnership will further its expansion in consumer lending.

The agency would be subject to congressional and White House oversight; American customers will be able to send money to 200 countries.

The state’s banking regulator said that the online consumer lender made over 46,000 small loans to Bay State consumers without a license. The company surrendered its license to the state regulator as part of a 2011 consent order.