Marketplace lending

The online lender, which focuses on high-earning millennials, is offering assurances that it will also serve Americans who make less money. But the company has not convinced critics, who say the plans are inadequate.

Two of the biggest online consumer lenders don't always check whether borrowers are lying to them, and if they find errors in an application, they may still approve the loan.

The New York firm, which offers high-cost credit to small businesses, has attributed its recent struggles to certain loans performing worse than had been expected.

JPMorgan Chase’s partnership with OnDeck Capital was expected to augur a wave of similar agreements between banks and online business lenders. But so far, most banks have avoided joining forces with companies they also view as competitors.

The Utah company has similar arrangements with Staples, GoDaddy and LegalZoom.

Customers were previously required to provide access to their accounting software, but now they can connect a business bank account instead.

House financial services committee head agrees to drop swipe-fee repeal in order to save Financial Choice Act; Federal appeals court appears skeptical about declaring agency's makeup unconstitutional.

Online lenders are evading New York regulations by claiming their loans are “made” by federally chartered or out-of-state partner banks, Department of Financial Services Superintendent Maria Vullo told lawmakers Monday.

Steve Allocca is expected to play a key role in the online lender’s efforts to restart loan growth.

The Silicon Valley lender that caters to affluent millennials has ambitions to become a one-stop shopping destination for financial services.

Brendan Dickinson of Canaan Partners says PFM startups have deep relationships with customers, unlike online lenders, but the revenue model isn't as strong.

Compliance flexibility, state law harmonization and funding transparency requirements are among the regulatory steps that can encourage continued innovation.

Fintech has upended parts of the banking industry and made old ways of doing business obsolete. But that's also what makes it an exciting time to be a banker, says Citizens Bank CEO Bruce Van Saun.

Noah Breslow, who drew opposition from a hedge fund that wants the online small-business lender to pursue a new course, won 84% of the vote Tuesday.

Once focused mainly on growth, the New York-based small-business lender said it will lay off employees and cut other expenses in an effort to become profitable. The moves are a sign of waning patience among investors in the once-frothy sector.

Five Star Bancorp in California is the latest bank to work with a marketplace lender on referrals. The move comes as the SBA programs have record volumes while concerns linger about banks working with third parties.

The online consumer lender has struggled to bounce back from a scandal that turned its fortunes a year ago.

The systems problem drew attention to a difficulty that the online-lending industry has faced recently: returns on loans are falling, and persuading investors to buy loans from the platforms is getting harder.

The hand-wringing over business lending has overshadowed the fact that consumer lending — particularly for regional banks — has become a strong and steady engine of growth.

For all the talk of cooperation and partnerships with banks, financial services startups are doing well in underserved niche markets such as actors and musicians.