SoFi

Online lender’s co-founder says “negative press” from lawsuits has become a “distraction”; company sought lighter regulation and limited legal liability for credit bureaus.

Square became the third fintech firm in recent months to seek out a bank charter. Others are likely to follow.

Many of the arguments in this debate have less to do with the applicants’ qualifications than with traditional banks’ fear of new, innovative competitors.

Rep. Maxine Waters, D-Calif., is calling on the FDIC to hold a public hearing on SoFi's application for deposit insurance.

Not only did Walmart's bid for an industrial loan company galvanize bankers, it also turned the ILC world upside down.

Contrary to the view of some, technology has not rendered the Community Reinvestment Act obsolete. But everyone seems to agree that it should be reformed.

The Fed wants directors to “focus on the big issues” not minutiae; Softbank to invest $250 million in online small business lender.

Events of the past decade demonstrate that further tearing down firewalls between banking and nonbanking businesses would be a huge mistake.

Social Finance’s application for an industrial loan charter has not only drawn opposition from a coalition of incumbent banks and community activists, it also serves as a microcosm of several perennial debates in financial services policy.

Tech-savvy mortgage broker Sindeo is back in business, following an acquisition by Renren, a Chinese social media company and an investor in U.S.-based fintech firms including Social Finance and LendingHome.

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.

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

The deposit insurer has stayed out of the debate over how to regulate the online lending industry. But that may be about to change.

Fannie Mae has made three selling guide changes aimed at helping the growing number of borrowers with student debt qualify for home loans, and may begin testing similar proposals related to this goal.

Social Finance's online borrowers are defaulting at higher rates than underwriters for one of its bond deals had expected, the latest sign that an industry that hoped to upend banking is now getting tripped up by bad loans.

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.

The rise in home values is good news for homeowners looking to tap the equity in their homes to pay down debt or make big purchases, but some consumer groups fear it could lead to a new wave of loan defaults.

The San Francisco-based online lender will soon begin selling refinanced student loans through Promontory’s member network.

Hong Kong and Singapore have long been economic crossroads. China and India are economies with vast populations. And Shenzhen is bursting with innovative creativity. All of these contribute to the Asian fintech market being far ahead in adoption and ecosystem creation.

The deal marks a milestone in SoFi’s evolution into a private bank for millennials, but it won’t solve the challenges of the alternative lender’s funding model.