Nonbank

LendUp, which makes subprime consumer loans online and over mobile phones, announced Wednesday that it has raised $50 million in equity funding, plus an additional $100 million in debt financing.

BlueVine, a Palo Alto, Calif., firm that is aiming to modernize the invoice-financing business, announced a new fundraising round on Wednesday.

LoanHero, an online lender specializing in consumer loans at the cash register, announced that it has raised $2.5 million in seed funding.

Online lenders like Aprenita, Payability and Pollen VC have all launched within the last 13 months to fill a need they say is not being met by traditional banks, and only partially by venture capitalists and invoice-financing companies.

Fundation Group, an online small-business lender, has hired an industry veteran as its first chief operating officer.

For all the attention nonbank fintech firms get, they still have a long way to go before winning over key customer segments, such as business banking customers.

The Seattle-based tech giant, in its latest foray into the financial services business, has begun offering installment loans to British consumers.

CommonBond, a New York firm that makes student loans through an online platform, said Tuesday that it has raised more than $275 million in debt funding from Barclays and others.

U.S. judge rejects Quicken Loans' effort to move FHA loan case to Detroit courtroom.

A federal judge is urging the parties of a closely watched pot-banking case to settle their dispute.

Once billed as a safer alternative to traditional finance, the new crop of tech-powered lenders is starting to resemble previous generations of finance companies whose fortunes rose and fell with each economic cycle.

Some lost their jobs while others made major missteps or faced serious challenges to their business plans. Here are the folks who had a rough 2015 and are looking forward to better times in 2016.

Everyday investors provide marketplace lenders a cushion in case institutional buyers find greener pastures. But regulatory hurdles and an addiction to fast growth are making it difficult for the platforms to lure those coveted savers.

Lending Club, the nation's largest marketplace lender, announced Tuesday that it has raised interest rates on its new loans by an average of 0.25% in the wake of the Federal Reserve Board's recent rate hike.

The $933-million asset institution said in a press release Tuesday that the technology, provided by Louisville-based R.C. Giltner Services, will enable consumer and small-business customers to complete the loan application process in minutes.

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.