PYMNTS
NOVEMBER 17, 2016
Renaud Laplanche, Lending Club’s former CEO, is back with a new internet lending startup called Credify Finance Corp. But despite its early status, Credify comes into the market pre-wired for lots of attention — since its founder is both famous and infamous in online lending circles. Department of Justice.
PYMNTS
MAY 4, 2016
According to Wall Street Journal reports, the online lender is shedding 28 percent of its staff and rearranging its executive team. The biggest individual cut will be a Utah office dedicated to lending for medical procedures, but 14 percent of Prosper’s San Francisco- and Phoenix-based workforce is also on its way out the door.
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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
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. lending marketplace. 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. Square already has an SMB lending arm – Square Capital – which it operates through a deal with Utah-based Celtic Bank. That lending operation has been fairly successful for Square, and has lent out over $1.8
PYMNTS
APRIL 4, 2016
We examine the findings from several market reports on small business access to capital, lending, growth and employment. That figure represents a 30 percent increase in borrowing among these SMEs compared to 2010 and a 70 percent increase compared to 2006 figures. billion in loans were taken out by small U.K.
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