Nonbank

Banks and nonbanks should accept that more fintech regulation is inevitable, but how far regulators go will depend in part on how well companies demonstrate they are managing risk.

One of the country's largest online lenders is cutting jobs and shelving expansion plans in response to investors' rapid retreat from the beleaguered sector.

The Justice Department filed suit Thursday against Guild Mortgage, arguing the firm violated the False Claims Act by improperly originating and underwriting Federal Housing Administration loans.

Following the scandal-tinged departure of CEO Renaud Laplanche, the company is contemplating drastic steps to restore the confidence of loan buyers. Scenarios that would have been far-fetched a short time ago — such as diluting shareholders and funding loans off its own balance sheet — are now under consideration.

Google should be applauded for deciding to ban payday loan-sponsored ads. But it should tweak some of the details so legitimate lenders can still advertise.

Favorable treatment under upcoming Consumer Financial Protection Bureau rules has led banks to signal interest in small-dollar loans. But if they can serve the market profitably, why aren't they already doing it?

Too many fintech companies are selling superficial products. Entrepreneurs need to start solving hard problems and offering real value.

Stephen Scherr, Goldman Sachs Group's chief strategy officer, will take on the additional role of chief executive officer for banking operations.

The pervasiveness of consumers' credit problems highlights why the Consumer Financial Protection Bureau's upcoming short-term lending rules should avoid unintended consequences.

Small-scale financial services companies such as storefront lenders and local money transmitters which use technology should have a choice of whether they are regulated by a state or federal regime.

If alternative small-business lenders don't get engaged in the regulatory dialogue, they risk letting a few bad apples determine their fate.

State officials in California have asked top online lending firms a series of probing questions regarding their compliance with laws and regulations dealing with referral fees, bank partnerships, fair lending and other sensitive issues.

We should all understand now that pure gain-on-sale marketplace lending businesses, like LendingClub, are inherently unstable.

The abrupt resignation of the firm's founder and CEO, under a cloud, seems likely to fan investors' growing fears about the marketplace lending sector. It could also hasten regulatory scrutiny.

Banking is often seen as a quintessentially modern institution. But financial practices are deeply rooted in the medieval period.

Students with excess cash but no bank account have fallen victim to predatory financial vendors, but the government can take steps to bypass the middleman.

Prosper Marketplace's decision to eliminate 22% of its workforce is more evidence that the bloom is off the rose for a sector that had been enjoying astronomical growth.

The hits that alternative lenders like OnDeck Capital are taking shouldn't be a surprise for an industry built on unsustainable business models.

Some buyers are hanging in there, but as OnDeck Capital's disappointing first-quarter results show, investors who acquire and securitize marketplace loans are heading for hills. Among the reasons: fear of defaults, unfavorable pricing and shrinking loan yields.

OnDeck Capital reported a quarterly loss of $12.6 million as revenues fell short of expectations. At the same time, the New York firm sharply reduced its earnings projection for the rest of the year.