Marketplace lending

The startup, which offered credit lines of up to $1,000, hoped to tap into the millennial generation's frustration with overdraft fees.

The $2.6 trillion-asset bank's recent commitment to digital lending augurs the development of a two-tier market for borrowers who want fast access to cash.

In a move to strengthen the PayPal Working Capital program, the online payments giant has agreed to acquire the small-business capital lender Swift Financial.

The largest banks are approving small-business loan applications at the fastest rate since the recession, a sign that that they are willing to assume more risk and taking seriously the threat of competition from online lenders.

Heather Tuason is now chief product officer of StreetShares, an online lending and investing platform.

Young businesses often prefer banks, especially community banks, over online lenders. However, traditional lenders need to make quicker decisions, simplify the application process and make other improvements, these customers say.

The online consumer lender reported a net loss of $25.4 million, bringing its red ink in the five most recent quarterly reports to more than $200 million.

The online lender said it is on track to hit its goal of becoming profitable by yearend. It also extended a partnership agreement with JPMorgan Chase.

It is the latest of several popular apps to close down in recent weeks.

The app, formerly known as BillGuard and a favorite of many fintech insiders, helped users protect their identities and monitor their credit scores.

The Riverwoods, Ill., company is trying to assure Wall Street that its higher chargeoff rates signal a return to normalcy, rather than a cause for alarm.

CircleUp is offering lines of credit to early-stage consumer brands, which can often only get financing at high interest rates.

MPOWER Financing announced a deal Tuesday with Bank of Lake Mills in Wisconsin that will enable the Washington, D.C.-based company to lend to students in all 50 states.

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.

Readers question acting comptroller Noreika, weigh in on SoFi’s charter application, defend Trump’s exit from the Paris Accord, and more.

The marketplace lender's application for an industrial bank charter is under fire from small banks and progressives, who say it could violate the barrier between banking and commerce and shut out middle-class and lower-income consumers.

The banking industry is evolving. Doesn’t it make more sense to focus on how to evolve with it rather than how to reduce competition?

The firm’s latest financial outlook suggests an opportunity to earn profits comparable to those recorded by large, well-established credit card issuers.

While some policymakers are open to accommodating fintech companies with looser oversight compared with banks, the New York State superintendent is unapologetic about her tough approach.

Readers this week highlighted the need for banks to upgrade payments systems, debated a small bank’s decision to ditch its legacy core vendor, lamented populist initiatives of the GSEs, and more.