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After recording a $35.9 million quarterly loss, the online small-business lender said that it plans to reduce its annual expenses by $20 million, cut 11% of its staff and more than double its loan-loss provision from a year earlier.
February 16
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The New York State Department of Financial Services is hoping to expand its authority to marketplace lenders, brokers, merchant cash advance companies and others that previously could operate in the state without a license.
February 16
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Marketplace lenders have set themselves apart from banks by moving faster, but lending fraud might force them to revamp their authentication processes.
February 16
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If Washington lowers taxes as much as banks and the rest of corporate America hope, it will yield a bonanza of earnings per share, new tech investments or investor dividends … right? Not exactly, bank leaders warn.
February 15
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The OCC wants California First to implement “prudent concentration limits” on leveraged loans.
February 15
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Zeus Mortgage in Houston is positioning its new online crowdfunding platform as an alternative to traditional mortgages for property buyers and others having trouble borrowing to remodel homes or fund construction projects.
February 15
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Bond Street targets small businesses that might be able to qualify for a bank loan but are looking for a faster and easier approval process.
February 15
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Marketplace lenders have set themselves apart from banks by moving faster, but lending fraud might force them to revamp their authentication processes.
February 15 -
Seacoast Commerce Banc Holdings in San Diego will keep more of its small-business loans on its balance sheet in response to rapidly changing economic and political conditions.
February 15
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The San Francisco online lender reported a $32 million loss in the fourth quarter, which brought red ink for the full year to $146 million.
February 14
