Lending Club

The online lender-turned-bank saw a strong quarter as tariff-driven fears start to ease. Executives are also looking to rebrand the company.

The banking holding company's new type of private security, launched last year, also reached $3 billion in loans sold last month.

The digital lender, which bought Radius Bancorp in February, still expects to record a full-year loss partly because of merger-related costs. But its stock price soared Thursday after it reported second-quarter net income of $9.37 million.

The agreement will likely end a three-year-old dispute over allegations that the company misled borrowers by promising no hidden fees on its consumer loans.

The regulator's order moves the San Francisco-based company one step closer to becoming the first online lender to own a bank.

Fintech lenders that reported a surge in missed payments at the start of the pandemic have seen credit quality rebound substantially since. But credit performance could still deteriorate if high unemployment persists and Congress fails to enact more relief measures.

Other challenger banks focused on personal loans have struggled since the onset of the coronavirus pandemic.

The upstarts enjoyed rapid growth during the long economic expansion. Now they are on the ropes.

The online lender has deployed new software designed to spot security risks early, especially the kind of cloud-data issues that led to the Capital One-Amazon breach.

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The online lender, reeling from the economic fallout of the coronavirus pandemic, also said it is cutting senior executives' salaries by 25%.

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.

LendingClub and Varo Money are making inroads into the traditional financial system, but other fintechs still face long odds.

The heads of the two companies explain how the deal came about, what hurdles they face and how they plan to mash up their very different operations.

LendingClub and Varo Money are making inroads into the traditional financial system, but other fintechs still face long odds.

The deal for Boston-based Radius would be the first in history in which an online lender buys a mainstream bank.

Easy credit has given way to cautiousness, with financial technology upstarts now seeking households with higher incomes, above-average credit scores and less debt relative to their wages.

A more practical approach for U.S. regulators on whether to bring fintechs into the banking fold might be "better the devil you know than the devil you don’t."

The company has rolled out an online platform for firms considering marketplace loans as an asset class.

Renaud Laplanche, one of the first fintech disruptors, is launching an unusual type of credit product at Upgrade, his new company, that is a cross between a credit card and an unsecured loan.