2006 Cards Lending Online 
Fintech Labs Insights
APRIL 12, 2024
Long before fintech was a thing (1995), I launched the first, and by most measures the biggest, newsletter during the first two decades of online/digital banking. It was called Online Banking Report and was read by a sizable portion of major industry players. And each January, we ranked all previous recipients into a master list.
PYMNTS
AUGUST 23, 2018
When Renaud Laplanche founded LendingClub 12 years ago in 2006, the lending landscape was a very different place. Most consumer and business lending was done through traditional banks, and to say that peer-to-peer (P2P) or marketplace lending was nascent would be overly generous. More Data, More Products.
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CFPB Monitor
APRIL 13, 2020
Debt collection (25%): The largest number of debt collection complaints concerned “attempts to collect debt not owed” for miscellaneous products and services such as phone bills, health club memberships, and home utility services, followed by credit card debt. The majority of complaints involved “trouble during payment process.”.
PYMNTS
OCTOBER 1, 2018
The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. Attorney Alex Tse. “We The Response.
Independent Banker
DECEMBER 29, 2015
ICBA warns of risks of online marketplace lending models. Online marketplace lenders are a new form of nonbank specialty lending that uses technology platforms to allow Wall Street and individual investors to directly fund loans to consumers and small businesses. Typical Practices of Online Lenders. capital policy.
PYMNTS
OCTOBER 17, 2017
Before this year, the last time that happened was in 2006, when Walmart made a move on an ILC. Walmart claimed it wanted to leverage the proposed bank mainly for the purpose of lowering costs of its backroom processing of check and credit card transactions and to offer high-interest certificates of deposits.
Fintech Labs Insights
OCTOBER 25, 2016
P2P lending giant Lending Club has been offering car buyers an alternative borrowing experience since it launched ten years ago. Lending Club’s new Auto Refinancing product offers a solution that gives qualified borrowers a more affordable monthly payment and interest rate. Instead, the company itself will buy the debt.
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