Nonbank

The United Kingdom has already seen the emergence of mobile-first institutions that have won regulatory approval for a banking charter. It is only a matter of time before they invade the U.S. market.

California regulators on Monday identified 14 companies that the state is targeting as part of its recently announced inquiry into the marketplace lending industry.

The Irvine, Calif.-based company plans to offer subprime borrowers the ability to get an auto loan online or through a smartphone.

The first state inquiry into marketplace lending is seeking information from a broad mix of companies, including consumer lenders, small-business lenders, and firms that are not primarily in the lending business.

California officials have opened a broad inquiry into the marketplace lending business, seeking data from industry participants that will be used to assess the effectiveness of the state's current regulatory regime.

The Dec. 2 mass shooting has shone a light on the sector's vulnerability to borrowers who, exploiting the absence of face-to-face contact on the Internet, lie on their loan applications.

Washington Federal is the latest bank to partner with a tech company in an effort to streamline online loan applications.

Why a small bank like First Mid-Illinois ignored the conventional wisdom — 'Commercial banks buy property/casualty firms.' 'Private-equity will outbid you.' 'Leave the innovation to the big guys.' — and bought a retail health-insurance agency.

Ex-banker Frank Rotman, now a venture capitalist who focuses on marketplace lending, has a unique vantage point on the competition for small-business loans between banks and Web-based upstarts, as well as on both sides' strengths and weaknesses.

Hours after Jamie Dimon alluded to the budding partnership, the banking giant and marketplace lender went public with their plans to launch an online lending platform in 2016.