Trying something new and different is both one of the hallmarks of innovation and a typical option when a company finds that the same old thing just isn’t quite working anymore. With that as a backdrop, it is not at all unusual for Lending Club...
SoFi, the online lender, is moving ahead with plans to roll out a life insurance product, reportedly acquiring licenses and inking a deal with Protective Life Insurance. According to a report by The Wall Street Journal, which cited documents and people familiar with the situation,...
Whatever else can — and doubtlessly will — be said about Lending Club in 2016, no one will argue that they didn’t keep things interesting for observers. This week has been no exception, and LendingClub is moving its debt refinancing model — largely applied to consumers looking consolidate...
Lending Club has had a tough year. In early May, news broke that Lending Club had played fast and loose with its documents and disclosures, including the fact that then-CEO Renaud Laplanche had failed to disclose a personal stake in a firm Lending Club had...
Professional racecar driver Scott Tucker and companies he owns reportedly owe the Federal Trade Commission $1.27 billion over deceptive payday lending practices. According to a report, a federal judge in Nevada ruled Tucker and his companies deceived payday lending borrowers about the costs associated with their...
Prosper, the P2P lending marketplace, is reportedly closing down the secondary market for its loans later this month. According to a report, which cited an email Prosper sent investors last week, the company will shut down the service on Oct. 27. The company doesn’t operate...
T-minus five days and counting. That’s how many days are left for the public to comment on the CFPB’s draft payday lending regulations. First proposed in early June of this year, the rules changes have been divisive from well before the word go. Much of the first half...
Banks, especially big ones, aren’t all that interested in lending money to SMBs. That, since 2008 or so, has been the conventional wisdom. While access to all credit more or less was dramatically reduced in the wake of the Great Recession, the recovery has been...
Heritus Marketing Group announced on Thursday (Sept. 22) that it began offering Merchant Cash Advance Leads. In a press release, the company said the leads contain details of business owners who have a high credit card sales volume on a daily basis. Heritus makes sure these...