These days, payday lending is not a subject that lends itself to much in the way of rational discourse. It does much better at attracting passionate disagreement among partisans. Opponents of the practice note that, in its most vicious form, payday lending is an expensive predatory...
Lending Club – and the alternative lending industry overall – has lost a lot of support in just a few short weeks following the sudden departure of the firm’s CEO, allegations of mismanaged investments and talk by the U.S. Treasury Department about the need for...
Finance and technology connect in ways that speed capital to SMBs and other enterprises, when and where it is needed. That won't change even against a more onerous backdrop, says Bizfi Founder Stephen Sheinbaum, and should make the industry stronger.
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 turn in investor sentiment toward consumer lenders of all stripes.” The downturn is...
In the continuing emergence of details surrounding Lending Club and its woes in the wake of the resignation earlier this month of its chief executive officer, Reuters reported on Friday (May 20) that Citigroup backed off from supporting the company. The newswire said that a May...
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 rating for its securitization bond deal. This is the highest credit rating from...
What’s a millennial to do? They want to have those valuable life experiences (like Coachella or a weekend in Costa Rica), but they just don’t seem to have the cash. Well, now, they can have their experience now and pay for it later, without the...
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 lender inflated its share price by not being transparent about the...
Brutal. If one were forced to come up with a single-word description for the week that the remaining executive team at Lending Club has just lived through, we imagine “brutal” would be the winner. As of a week ago, the “highlights” of the Lending Club’s...