Wanting to make financial services — particularly access to credit — more inclusive is a popular goal and a tricky needle to thread. The benefits of inclusivity are myriad, but come with a significant attached asterisk: expanding credit is only a good idea when it is expanded...
Lending Club managed to do something yesterday that it hasn’t been quite able to pull off in six months — it shocked The Street with good news. Shocking the street, of course, has become unfortunately par for the course for the last half-year or so, but...
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...
