Lending Club

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.

Digital-first lenders more than doubled their market share in the last four years, according to a report by Experian.

The accounting standard is coming regardless of a delay. It will bring some nonbank lenders to the forefront of banking competition.

The San Francisco company forecast a modest profit in the third quarter because its cost-cutting plans are ahead of schedule. It's also starting a program to sell riskier loans to sophisticated investors.

In a downturn, some fintechs, such as independent lenders, will be more vulnerable to economic forces than those working to service banks' regulatory needs.

Rather than receiving a lump-sum payment from the online lender, borrowers can now choose to have the proceeds of a debt consolidation loan sent to the companies they owe.

The San Francisco-based online lender, which has recorded nearly $450 million in losses since 2016, is taking aggressive steps to achieve adjusted profitability later this year.

The San Francisco-based online lender said that the departures of two prominent board members are not the result of any disagreement with the company.

The online consumer lender trimmed its losses in the fourth quarter and says an adjusted, non-GAAP metric suggests it's on the path to getting out of the red later this year.

As the consumer lender announced its seventh consecutive profitable quarter, its CEO bragged that his company is better positioned than the likes of Goldman Sachs and LendingClub.

The online lender will roll out its first new product in 12 years, a home equity line of credit. But it's taking a different approach than with its original offering.

The San Francisco company, which has racked up big losses over the last two and a half years, signaled Tuesday that it is on a path to profitability after resolving a series of longstanding regulatory problems.

Despite being barred from the securities industry by the SEC, LendingClub’s founder has found plenty of people to back his latest venture — and that’s a problem.

Renaud Laplanche agreed to pay $200,000 and accept a ban from the securities industry to settle a long-running SEC probe. A LendingClub subsidiary and the firm's former CFO, Carrie Dolan, were also fined.

Delinquencies have held steady for a year, and observers are optimistic about upcoming third-quarter data. But the long-term question is whether solid underwriting can overcome higher vehicle prices and consumer debt burdens.

The LendingClub founder responded to being booted from his company by starting a new one with involvement from former investors — and a loan buyer he had supposedly wronged.

Upgrade, a marketplace lender founded by Laplanche just a few months after he was ousted from LendingClub, has secured more than $100 million in equity capital and says it is poised to offer more consumer credit products.

The 100 dismissals in asset management follow job cuts in other divisions; the agency cites the lack of protections against fraud and market manipulation.

Rep. Emanuel Cleaver, D-Mo., released a survey of lending practices that he said point to practices such as forced arbitration clauses and extracting a customer’s credit score to determine creditworthiness.

The online lender’s president, Steve Allocca, shares how the company weathered scandal and hints at future plans to grow its product set.