Nonbank

Turmoil in marketplace lending has less to do with loan quality and more to do with how lenders price loans to meet supply and demand.

The number of customers who obtained 10 payday loans in 2015 outnumbered those who obtained just one, the California Department of Business Oversight said in a report Wednesday.

For the second time in six weeks, the online lender Avant is taking steps to reduce the size of its workforce.

The business case for real-time payments is not the opportunity to charge high fees. Rather, the payoff – which will take time – will come in retaining customers, lowering operational costs, and delivering timely financial insights to smartphone-toting customers.

Seven weeks into a crisis precipitated by the ouster of the company's longtime CEO, the embattled marketplace lender is trying to convince shareholders that it is turning a corner.

WASHINGTON — Big banks have drastically reduced their share of the Federal Housing Administration market, a massive shift that has big implications, according to new analysis by the American Enterprise Institute.

The court's decision to return Madden v. Midland Funding to a lower court leaves unresolved a number of important questions for marketplace lenders and other parts of the consumer-finance industry.

In a setback for the U.S. consumer finance industry, the Supreme Court said Monday that it will not review a lower court's decision that bolstered the ability of states to enforce bans on high-cost lending.

Kabbage is licensing its digital lending technology to one of Canada's largest banks, which plans to offer an online application process to small businesses.

Prosper Marketplace is rolling out a revamped website that is designed to make loans it sells more attractive to individual investors.