Retail & Commercial

One of the defendants behind a massive landline cramming operation that placed more than $70 million in unauthorized charges on consumers’ phone bills has agreed to settle Federal Trade Commission charges against him.

Tri-Valley Bank in San Ramon, Calif., plans to raise $2.5 million through a private placement of common stock.

The $6.5 billion-asset bank said in a press release Thursday that it plans to transfer its common stock and senior notes to the NYSE from the Nasdaq.

Once known as peer-to-peer, online marketplace lending grew phenomenally and evolved rapidly in 2014, as capital flooded in from institutional investors and traditional bankers sat up and took notice.

American Banker has named online marketplace lending the Innovation of the Year. Matt Burton, CEO of Orchard Platform, explains how this booming business evolved out of peer-to-peer lending and whether alternative finance firms are competing with banks.

Orchard Platform CEO Matt Burton discusses how online marketplace lenders use data and technology to speed lending and improve transparency.

Online marketplace lending, a mushrooming business in the U.S. and the U.K., could take hold elsewhere, says Matt Burton, whose Orchard Platform is looking to expand its lender-support and analytical services internationally.

A new report from the Office of the Comptroller of the Currency finds potential industry threats from interest rate volatility, looser underwriting and other areas.

Before its IPO this week, online lending platform OnDeck was operating "with the discipline of a public business," holding simulated earnings calls among other exercises, says Noah Breslow.

Meta Financial Group in Sioux Falls, S.D., has filed to raise up to $26 million by selling common stock.