China Ponzi Scheme: Police Crack Down on Shanghai Lender, Wealthroll

May 16, 2016
Article by:

Yuan

Chinese police have been ordered to shut down illegal online lending sites and take swift action against suspects.

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Did Peer-to-Peer Lending Sell its Soul to Wall Street?

May 8, 2016
Article by:

Broad Street

“We have so many fans but we also have some people here that are looking to take advantage of us, that are here for a short term trade and they won’t be part of this industry.” – Ron Suber, President of Prosper Marketplace Ron Suber may have been talking about specific players in the capital […]

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Google Ditches Debit Card for P2P Transfer

April 1, 2016
Article by:

Google HQ

Wallet Card, which was launched in November 2013 lets users make payments at ATMs, banks and any business that accepts MasterCard Debit.

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Will Marketplace Lending Revert Back to Peer-to-Peer Lending?

March 28, 2016
Article by:

Peer to Peer

Institutional investors wanted higher yields on Prosper’s latest bond offering, an entire five percentage points higher, according to the WSJ. This wasn’t necessarily brought on by performance either. Instead the once voracious appetite for all things online lending is being tempered by uncertainty. Bain Capital Ventures partner Matt Harris told the WSJ that online lenders […]

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Hedge Funds Will Call The Shots in P2P Lending, Survey Says

March 6, 2016
Article by:

wall st

P2P lending platforms will increasingly rely on larger hedge funds to fund their expansion, The New York Hedge Fund Roundtable believes. The Roundtable is a non-profit organization committed to promoting education and best practices in the hedge fund industry. Timothy P. Selby, the organization’s president, said of a recent study they conducted, that institutional investors […]

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Lending Club Loan Size Cap Raised to $40,000 (Should Investors Be Worried?)

March 5, 2016
Article by:

Lending Club Max Loan Size

Consumers can now borrow up to $40,000, an increase from the previous cap of $35,000. The new maximum should raise eyebrows. That’s because while one of Lending Club’s biggest allures is the ability to refinance credit cards into a lower rate over a fixed term, there are zero safeguards in place to ensure that the […]

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Lending Club Shifts Fee Arrangement With WebBank

February 26, 2016
Article by:

Lending Club IPO

It’s a “belt and suspenders” precaution according to Lending Club CEO Renaud Laplanche. The Madden v Midland case has forced the company to rethink their arrangement with WebBank, the chartered bank that allows them to make loans nationwide. Under the new terms, the fee LendingClub pays to WebBank for the loans it issues will be […]

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Prosper Has Increased Its Estimated Loss Rates

February 15, 2016
Article by:

Prosper Loan Listings

“Effective today, Prosper has increased its estimated loss rates and the price charged for risk on the loans originated through the platform,” said an email to investors on Monday. “We believe this move ensures that our borrower payment dependent note and whole loan products remain competitive for our investors in the current turbulent market environment […]

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Lending Club TurboTax Integration Attempts to Solve Marketplace Lending’s Tax Problem

February 15, 2016
Article by:

TurboTax

Lending Club’s retail investors scored big on February 12th when they announced an integration with TurboTax software. The complexity of marketplace lending from a tax perspective has historically been one of the most prohibitive cost barriers for retail investors. Unlike savings accounts which issue a standard 1099-INT, Lending Club (and Prosper) issue both a 1099-OID […]

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Real Estate Lender Patch of Land Sells $250 Million in Loans

February 11, 2016
Article by:

a patch of land

Real estate lending platform Patch of Land announced that it signed a $250 million agreement with an east coast based credit fund to purchase its loans in a forward flow arrangement. The reluctance to name the city or state of the fund suggests that in doing so would too easily reveal who it is. Patch, […]

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