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Key factors point to marketplace lenders rebounding from their recent setbacks and continuing their growth.
May 10
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In the weeks leading up to the resignation of LendingClub's chief executive officer, investment bank Jefferies Group asked the company to bolster its disclosures to borrowers, people with knowledge of the matter said.
May 10 -
U.S. banks are under pressure to do more with their data to understand their customers' needs and make the best offer. But the rub is that global privacy rules are getting tougher, and consumers are starting to want to own their data.
May 10
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CBI Bank & Trust in Muscatine, Iowa, said Tuesday that it has agreed to buy a branch in Davenport, Iowa, from MidWestOne Bank in Iowa City.
May 10 -
Industry representatives swiftly rejected the Treasury Department's assertion that new legislation is needed to protect small-business owners.
May 10 -
If alternative small-business lenders don't get engaged in the regulatory dialogue, they risk letting a few bad apples determine their fate.
May 10
Financial Services Innovation Coalition -
After two failed attempts to find a buyer, New England Bancorp in Massachusetts agreed to close all four of its offices before selling to Independent Bank. Independent ultimately decided to keep one branch open.
May 10
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Wells Fargo is starting a program to offer small businesses online loans in as soon as one day, targeting territory occupied by On Deck and LendingClub.
May 10 -
Daniel Schrider, chief executive of Sandy Spring Bancorp in Olney, Md., discusses a controversial change to loan-loss accounting rules known as the Current Expected Credit Loss standard, or CECL and why it will be a burden for community banks.
May 10
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The steady stream of bad news continues for online marketplace lenders.
May 10
