San Bernardino Shooter Helped By Online Lender
An online lender finds itself in the unfortunate position of having supplied funds to an ISIS-inspired terrorist weeks before he and his wife carried out a shooting spree in San Bernardino, California,...
View ArticleBig Banks Draw Digital Battle Lines
The big bank versus online lenders battle is heating up even more as the wait continues from the Fed to finalize the impending interest rate rise. What the industry has seen, particularly as the...
View ArticleProsper’s Financial Wellness App Hits The Market
Marketplace lender Prosper launched its first mobile app, designed to provide customers with the tools to help make smarter financial decisions, the company announced on Thursday (March 10). The free...
View ArticleBlackstone Backs UK Online Lender’s $171M Round
Future Finance, an online lending startup specializing in student loans, secured £119 million ($170 million) in funding from investors, including QED Investors and Blackstone Strategic Opportunity...
View ArticleChanging Regulatory Weather For Online Lenders
The post recession period in general — and the first half of the 2010s specifically — have at various times and in various publications been described as a “perfect storm.” A storm that the plethora of...
View ArticleKabbage Partners With Santander To Serve UK SMBs
Grupo Santander subsidiary Santander UK said on Monday (April 4) that it will license the Kabbage Platform in an effort to increase small to mid-sized business lending in the United Kingdom. Santander...
View ArticleGerman Online Lender Grabs $37M To Ramp Products
Finanzcheck, a German consumer online lender, has raised €33 million ($37 million) in Series C funding, according to a TechCrunch report. The round, led by HarbourVest and with participation from Acton...
View ArticleOnline Lenders Hunt For Fresh Capital
The online lending marketplace has been hitting some speed bumps as of late. The key problems, according to Reuters, are the skittishness of hedge funds and, of course, market volatility. That’s a big...
View ArticleOnline Lending: The Regulator Wagons Are Circlin’
The online lending marketplace has had its slew of negative headlines in recent days, with seemingly more issues piling up by the hour. The latest salvo? The industry could use some more oversight and...
View ArticleLending Club Ripple Effect Reaches Across The Pond
The Lending Club saga has had reverberations across the pond, according to Reuters. As noted by the newswire on Tuesday (May 10), the fact that Lending Club has been staggered by the revelations that...
View ArticleLending Club Slapped With Shareholder Lawsuit
Lending Club’s troubles don’t appear to be going away anytime soon. The company was hit with a federal lawsuit from shareholders late on Monday (May 16) in San Francisco that claims that the online...
View ArticleSoFi Scores Moody’s Top Credit Rating
Although the online lending market has taken some hits this year, there’s one online lender who has secured a top approval from Moody’s. Social Finance, commonly known as SoFi, has received a triple-A...
View ArticleFor The Youngest Businesses, Connecting With Startup Capital
Much has been made of the woes suddenly being faced by online lenders, with Lending Club serving as the poster child, perhaps, of murky loan review processes and internal controls. The fact remains...
View ArticleAnother Online Lender Announces Layoffs
Consumer lending platform Avant is giving pink slips to 60 employees, or about 7 percent of its workforce. The news came late last week amid what Crain’s Chicago Business said is “an abrupt negative...
View ArticleOnline SMB Lending To Benefit From Regulation?
Lest the online lending landscape seem like a “Game of Thrones” episode, with bloodletting, zombie-like creatures and the ever-looming threat of winter — all may not be lost. True, Lending Club has...
View ArticleProsper Raises Risky Borrower Interest Rates
Against a troubled landscape, one online lender, Prosper Marketplace, is boosting rates that it charges to risky borrowers, a move The Wall Street Journal said was geared toward making its loans more...
View ArticleProsper, Other Online Lenders Put Under NY State’s Microscope
The drama surrounding online lenders — who they lend to, when, how and at what rates — continues. In the wake of disclosures last month that Lending Club handled some of its loans improperly and that...
View ArticleThe DOJ Sees Abuse Risks In Online Lending
The Department of Justice is taking a more interested look into the world of online financial services — lending in particular — as an area ripe for potential abuse as technology is replacing old...
View ArticleGreenfield Opportunity Looms In India For Online Financing
With an eye on what could be called a true greenfield opportunity, alternative lending platform Biz2Credit is launching its small business lending products in India. As has been reported, the nation...
View ArticleOnDeck Launches Accountant Advisor Program
Online lender OnDeck said on Tuesday (June 7) that it has expanded its Accountant Advisor Program. The firm said via press release that it has boosted its presence through increased hiring efforts that...
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