Nonbank

Prosper Marketplace has tapped USAA executive David Kimball to be its next chief financial officer.

The mortgage servicer said it has received letters from the Securities and Exchange Commission regarding separate probes into its collection practices and fees.

More than 200 small banks across the country will be able to offer online loans to their small-business customers as part of a new partnership announced Tuesday.

Estimates of nonbank mortgage providers that will close or change hands should worry consumers and policymakers about access to credit.

The nation's largest marketplace lender announced changes Friday to its partnership with Utah-based WebBank. The revisions are designed to preserve Lending Club's ability to ignore state interest rate caps.

Delinquencies are rising among the sector's less creditworthy borrowers, which is contributing to smaller returns for investors. This sets up the first major test for an industry that blossomed during a period of unusually low defaults.

The precedent set in the ongoing battle between Apple and the FBI over custom access to a device in question opens up unsettling risks on privacy and security.

Shares in the online small-business lender plunged Tuesday after the firm's 2016 revenue guidance fell short of expectations. New details about the firm's plans to provide its technology to big banks did nothing to stanch the bleeding.

It is time for institutions to act independently of the Federal Reserve and raise their loan interest rates to improve returns.

OnDeck Capital in New York reported a $5.1 million loss in the fourth quarter as revenue failed to keep pace with rising expenses.