Sean Murray

Articles by Sean Murray

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Lending Club: Charge-offs will happen

August 16, 2017
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five things to know about lending club notes

A short guide that Lending Club circulated to retail investors yesterday offers them five key pieces of advice. 1. Focus on net returns 2. Charge-offs will happen 3. Diversification is key 4. Monthly payments include principal and interest 5. Reinvestment is critical for consistent returns Lending Club has gradually drawn more attention to the effect […]

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Is The End Near For This Debt Settlement Firm?

August 11, 2017
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Wall Street Wolf

Corporate Bailout, a New Jersey based firm that purports to help businesses lower the monthly payments on their debts, is back in the news. This time it’s for allegedly running a sex-fueled office with stripper parties, sex dolls, and sexual harassment, according to the New York Post who published video footage of the debauchery. Warning: […]

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Company Founded By LendIt’s Co-founders Has Acquired LendingRobot

August 10, 2017
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NSR Invest / LendingRobot

NSR Invest has acquired LendingRobot to become the largest robo-advisor in the alternative lending space, according to an announcement made by both companies. Of note is that three of NSR Invest’s co-founders, Peter Renton, Bo Brustkern, and Jason Jones, are also co-founders of the LendIt Conference. The acquisition is a reminder that the conference founders […]

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Lending Club Has Become the Domain of Banks as Peer-to-Peer Continues Decline

August 8, 2017
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originations by source

Lending Club’s latest quarterly report revealed the future of their platform, as a conduit for banks to make personal loans. As illustrated below, banks have gone from funding only 13% of originations three quarters ago to 44% of all originations in the most recent quarter. That’s an increase from $265 million to $955 million. Source: […]

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After Fork, Coinbase Has Change of Heart on Bitcoin Cash

August 6, 2017
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Zcash bitcoin

Now that Bitcoin Cash has forked off of Bitcoin, Coinbase is no longer taking a hard line stance against the alt currency. In a new email they sent to account holders, they cite security of the network, customer demand, trading volumes, and regulatory considerations as the reasons they have decided to support Bitcoin Cash by […]

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Marcus Lemonis Rebuked Kabbage on Twitter

August 3, 2017
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Inkkas the Profit

Above, a screenshot of Marcus Lemonis doing a deal with Brooklyn-based shoe brand Inkkas on Season 3 While the fintech community heralded Kabbage’s $250 million Series F round this morning, small business fixer and CNBC TV star Marcus Lemonis was not impressed. On twitter, Lemonis wrote to Squawk Box host Carl Quintanilla, who was airing […]

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A Bitcoin Hard Fork is Coming and Creating New Money With It

July 30, 2017
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Bitcoin

On August 1st, Bitcoin will fork into two different currencies. That’s because a significant group of developers and miners believe that the Bitcoin protocol needs an upgrade in order to scale. Not everyone agrees so the chain is splitting in two. Since a split chain will share the same history, anyone who owns Bitcoin on […]

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Loans to a Business Not Paying Their Payroll Taxes Results in the Banker Being Convicted

July 29, 2017
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Arrested

Here’s a chilling situation that lenders, factors and MCA funders working with merchants who are behind on their taxes might want to take note of. On June 27th, Douglas Corriher, a bank VP, was hit with a 32-count superseding indictment over a factoring fraud conspiracy with a staffing company in North Carolina. Despite the dozens […]

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Bizfi Founder Stephen Sheinbaum Joins World Business Lenders

July 24, 2017
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World Business Lenders Ribbon Cutting Jersey City

Above: Ribbon cutting at World Business Lenders’ Jersey City office in July 2016 Stephen Sheinbaum has joined NJ-based World Business Lenders as a managing director. Sheinbaum founded Bizfi (Originally Merchant Cash and Capital) in 2005 and served for years as the company’s CEO. Former Lending Club exec John Donovan has been the chief executive of […]

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Russian Billionaire Is Betting Big on Fintech (And Online Lending)

July 20, 2017
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oleg boyko

Above: Oleg Boyko Russian billionaire Oleg Boyko is putting his chips on fintech. According to an announcement made by one of his companies, Finstar Financial Group, on Wednesday, he is committing $150 million of new capital towards financial technology startups over the next 5 years. And that money may be aimed at online lenders if […]

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