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LendingClub won over debt investors with algorithms that quickly assess borrowers' creditworthiness, making it easy for banks, hedge funds and others to snap up billions of dollars of consumer loans arranged through its online platform. Those algorithms still have some kinks.
February 5 -
Despite their recent growth, too few marketplace lenders are reporting data to the consumer reporting agencies, which could negative repercussions on the financial system.
February 5
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American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.
February 5
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SunTrust Banks in Atlanta has committed $50 million to a credit facility for the online small-business lender Credibly.
February 3 -
Atlantic Capital Bancshares in Atlanta has formed a lending division to focus on the emerging film and entertainment industry in Georgia.
February 3 -
WASHINGTON The current financial regulatory structure is ill-suited for innovation, but a legislative effort to fix that may still be a long way off, according to top House Republican lawmakers.
February 2 -
WASHINGTON The Federal Deposit Insurance Corp. is urging banks to perform due diligence and identify potential risks before conducting business with marketplace lenders.
February 2 -
OnDeck Capital, an online small-business lender in New York, has added a former E-Trade Financial executive to its board, as another director plans to leave.
February 1 -
The marijuana industry is still hampered by its own banking crisis, but the rigidity of federal laws is not stopping all advances in financial services for the sector.
February 1
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CoBiz Financial in Denver postponed a conference call to discuss its fourth-quarter earnings, after an $11.2 million loan was downgraded and placed into nonaccrual status.
January 29
