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The Innovative Lending Platform Association and the Coalition for Responsible Business Finance announced Monday that they are joining forces.
March 6 -
Personal financial management tools have long relied on financial data aggregation. Now, aggregators are hoping traditional lenders will take a cue from alternative lenders and use the technology to quicken their underwriting decisions.
March 6
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Much like how Amazon went from selling books to selling cloud services, the online lenders that succeed well into the future will change how they do business, Scott Sanborn said.
March 6
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Credit unions are working with crowdfunding platforms to help businesses find additional capital.
March 3
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The San Carlos, Calif., firm is following a similar blueprint as other online lenders — launching with a particular loan product, refining its algorithms, and then seeking to expand into other corners of consumer finance.
March 2
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The longtime bank analyst is one of many who lost their jobs when CLSA shut its U.S. equity research unit; marketplace lender forms group to buy $5 billion of loans
February 28
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Prosper Marketplace will receive as much as $5 billion in loan funding under a deal that will provide investors an equity stake in the San Francisco company
February 27
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It’s unclear whether connecting lenders and borrowers over the internet offers any advantages over traditional lending, according to panelists at the Structured Finance Industry Group conference in Vegas.
February 27 -
After recording a $35.9 million quarterly loss, the online small-business lender said that it plans to reduce its annual expenses by $20 million, cut 11% of its staff and more than double its loan-loss provision from a year earlier.
February 16
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The New York State Department of Financial Services is hoping to expand its authority to marketplace lenders, brokers, merchant cash advance companies and others that previously could operate in the state without a license.
February 16
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Marketplace lenders have set themselves apart from banks by moving faster, but lending fraud might force them to revamp their authentication processes.
February 16
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Zeus Mortgage in Houston is positioning its new online crowdfunding platform as an alternative to traditional mortgages for property buyers and others having trouble borrowing to remodel homes or fund construction projects.
February 15
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Bond Street targets small businesses that might be able to qualify for a bank loan but are looking for a faster and easier approval process.
February 15
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Marketplace lenders have set themselves apart from banks by moving faster, but lending fraud might force them to revamp their authentication processes.
February 15 -
The San Francisco online lender reported a $32 million loss in the fourth quarter, which brought red ink for the full year to $146 million.
February 14 -
Chicago-based Akouba will offer its origination and underwriting platform to ABA-member banks, which will receive preferred pricing.
February 13
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American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.
February 10
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The San Francisco-based online lender will soon begin selling refinanced student loans through Promontory’s member network.
February 8
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Easing regs without mulling the consequences could hurt the financial system, but a fintech charter and other careful reforms could promote innovation, Patrick Harker said.
February 6
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James Hobson is resigning to become the CEO of Attune, a new company in the commercial insurance sector.
February 3
