Marketplace Lending

See You At LendIt

March 3, 2017
Article by:

Peter Renton, Chairman and Co-Founder
LendIt,  speaking to LendIt USA 2016 conference in San Francisco, California, USA on April 11, 2016. (photo by Gabe Palacio)

Monday kicks off the LendIt conference at the Javits Center in NYC. Given that it’s the biggest event of the year for the industry, I certainly hope to meet as much of you there as possible. If you still haven’t registered, make sure you at least take advantage of a 15% discount by using promo […]

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In The UK, Regulators Advise Where The Line Between Banks and Non-banks Lies

March 1, 2017
Article by:

UK Flag

Online lenders shouldn’t be borrowing money from other online lenders and using that money to lend, the Financial Conduct Authority in the UK warned on Tuesday. Doing so without regulatory permission, they explained, would constitute accepting deposits and be a criminal offense. A copy of the official letter signed by Jonathan Davidson, Director of Supervision […]

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Prosper, A Marketplace for the World’s Richest Banks and Billionaires?

February 28, 2017
Article by:

gold

Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley, and funds tied to some of the world’s richest billionaires (including George Soros) all make up the “consortium of institutional investors” and “syndicate of lenders” involved in Prosper’s recently announced landmark deal. The terms allow for the investors to purchase up to $5 billion of loans on […]

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For Lending Club Borrowers, Interest Now Accrues During Grace Periods

February 26, 2017
Article by:

Lending Club CEO Scott Sanborn Presents at Money2020

On February 24th, Lending Club eliminated a courtesy that had long been afforded to borrowers, interest waivers during grace periods. Specifically, borrowers who missed a monthly payment were given 15 extra days to make the payment with no extra interest assessed or late fees. Going forward, interest will indeed accrue during grace periods. “we are […]

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Catching Up With Marketplace Lending – A Timeline

February 20, 2017
Article by:

A timeline of alternative finance

This article is from deBanked’s Jan/Feb 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE This is the expanded update to the timeline of events taking place in the industry. 12/16 Chicago-based Argon Credit filed for bankruptcy 12/20 Bizfi announced that it had surpassed $2 billion in originations since inception 1/4 Strategic Funding integrated […]

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‘Peers’ Continue Retreat from Lending Club

February 18, 2017
Article by:

escape

The peer aspect of peer-to-peer lending continued to erode last year, according to Lending Club’s year-end earnings presentation. Self-managed individuals, those still making their own investment decisions, only made up $263 million of their 4th quarter’s origination volume, reaching the lowest level in two years. That’s nearly 38% lower from the peak of $419 million […]

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Lending Club Reveals Q4 Figures, $146 Million Loss for the Year

February 15, 2017
Article by:

Lending Club IPO

The year that shook the industry ended six weeks ago but the total damage wrought is just now coming out. Lending Club lost $146 million in 2016, $32 million of which can be attributed to Q4. But it didn’t end all that badly according to CEO Scott Sanborn. On the earnings call he said, “our […]

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The LendIt Story

February 12, 2017
Article by:

Bo Brustkern

This article is from deBanked’s Jan/Feb 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE LendIt Co-founder Jason Jones The LendIt Conference was supposed to be a smallish local meetup for New York-based members of the online lending community. But founders Jason Jones and Bo Brustkern soon discovered they had the makings of a […]

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deBanked Begins 2017 With Thickest Magazine Issue Ever

February 8, 2017
Article by:

Jan/Feb 2017 preview

Forty-eight pages. That’s how thick deBanked’s January/February 2017 edition is. As the wider industry heads to the LendIt Conference in NYC next month, we decided it was only fitting to feature the city that never sleeps on the cover. This issue delves into Equity crowdfunding, the story behind the LendIt Conference, and what it’s like […]

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Former CIO of the CFPB and FinTech Entrepreneur Joins FinMkt’s Advisory Board

January 31, 2017
Article by:

company news

New York City-based FinMkt, a leading provider of marketplace technology solutions for the financial services industry, today announced the addition of Tim Duncan, a seasoned financial technology entrepreneur and innovative leader, to its Advisory Board. Tim brings an impressive roster of experience, including serving on the executive launch team for the U.S. Consumer Financial Protection […]

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