Marketplace lending

The online lender, which is looking to become a direct lender in the Paycheck Protection Program, has accepted 37,000 applications while working with an unnamed bank to fund businesses harmed by the coronavirus pandemic.

While LendingClub, Prosper, Avant and SoFi are giving existing borrowers breaks in the short term, they're considering tightening credit as the coronavirus outbreak threatens to drag the economy into a recession.

Compliance, risk management and staffing will likely come under added scrutiny as regulators lay out a framework for future fintech-bank mergers.

The online lender's latest product shows business owners their cash flow over the past 90 days and how it is likely to change. The idea is to help borrowers save time.

Tech firm accuses PNC of stealing trade secrets; online lender LendingClub agrees to acquire Radius Bank; questions arise whether regulators are turning more partisan; and more from this week's most-read stories.

The startup spawned in Eastern Bank's innovation lab says its bank customers asked for client-friendly software for account opening, credit cards and more types of commercial lending.

Kaustav Das was part of Kabbage’s effort to transform small-business lending by using new data analytics, and the CEO of Petal wants him to help it do the same in consumer credit cards.

Customers of the online lender's payments service can select their own loan terms.

The Financial Services Committee will also hold hearings next month on monetary policy, the CFPB and "astroturfing" worries, among other things.

Some fraudsters pose as loan applicants and submit doctored video or photos of property and assets to scam lenders they won't see in person. Firms like Elevate Funding and Credibly are fighting back.

The company best known for student lending expanded into personal lending less than two years ago. Now it says it is refocusing on core strategic priorities.

Total loans at Regions Financial fell slightly last year, but executives say a shift in consumer lending priorities and more aggressive C&I lending will start to pay off this year.

Financial regulators’ statement cautiously encouraging lenders to go beyond traditional underwriting in their lending decisions is a big step forward for the use of alternative data and artificial intelligence, bankers say.

Casting aside recession fears, the credit bureau predicts credit cards, mortgages, auto loans and unsecured personal loans should all perform well — including those extended by online lenders.

Casting aside recession fears, the credit bureau predicts credit cards, mortgages, auto loans and unsecured personal loans should all perform well — including those extended by online lenders.

It sounds like something that should be simple — letting a customer pay off their credit cards with a new personal loan — but it's not, according to Dave Girouard, Upstart's CEO.

The online lender, which has received state approval to establish a virtual currency business, can now offer a full range of investment services — including trading in digital assets — in New York.

Instead of imposing interest rate caps, policymakers should require online lenders to provide clear disclosures and promote partnerships with banks.

Bank regulators are considering a bypass to the 2015 court ruling governing loan sales that would ultimately offer more credit options to entrepreneurs.

The payments company has loaned $5.5 billion to 275,000 small businesses, thanks to a data-driven process free from human interaction.