BBVA is the first global bank to use blockchain technology to issue a corporate loan; the bank told the FT...
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The complaint stated that LendingClub violated federal laws which protect consumers from unfair and deceptive practices; LendingClub stock price dropped on the news which related to LendingClub’s promise of no hidden fees and a statement to applicants that “Investors Have Backed Your Loan” even though borrowers may not have been approved; some borrowers also experienced overdraft fees when LendingClub withdrew double payments according to the complaint. LendingClub responded to the complaint by issuing a press release. Source
Credit Karma’s main feature has been allowing users to see their credit score; the company launched a identity monitoring tool last year and is now expanding the data it scans to include the dark web; the tool will now search through 13 billion data breaches, up from 4.5 billion. Source
According to Nasdaq CEO Adena Friedman, the company is open to becoming a cryptocurrency exchange; Friedman stated, "I believe that digital currencies will continue to persist it's just a matter of how long it will take for that space to mature. Once you look at it and say, 'do we want to provide a regulated market for this?' Certainly Nasdaq would consider it.”; Friedman was less bullish on the future of ICOs. Source
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A recent study by Harvard Business School looked into the contribution of marketplace lending on the overall lending market; while companies like Lending Club and Prosper have improved consumer access to affordable loans the study also discussed whether these types of platforms are too transparent; this transparency according to the study gives large investors who leverage the availability of data an advantage in buying loans resulting in an uneven playing field. Source