A new partnership between Republic and BankProv simplifies the escrow process for companies raising money on the platform.
On Thursday, Uber partnered with Mastercard, Marqeta, and Branch to power the Uber Pro Card.
Dealmakers West is an all-meetings event happening in Laguna Beach on Aug. 30-31.
'If you have the right business ball on the right day and in the right situation, there is capital going to certain companies'
Kroll Bond Rating Agency has assigned preliminary ratings to a LendingClub securitization portfolio; the loan securitization, LendingClub Issuance Trust, Series 2016-NP2 (LCIT 2016-NP2), is valued at $101.75 million and includes two classes of notes with LendingClub consumer loans; the class A tranche which accounts for 84% of the deal at $85.3 million, is rated BBB; the class B tranche accounts for 16% at $16.4 million and is rated BB+. Source
Financial institutions are pressured by costs and regulations totalling $56.7 billion, LexisNexis Risk Solutions finds in a new report.
After a successful first quarter, LendingClub posted earnings of $.39 a share on revenue of $289.5 million, beating analysts' expectations.
The Telegraph explores performance on Lendy Finance, previously known as Saving Stream; outlines specific properties that have struggled and that almost 25% of loans are outside original terms; Lendy states that just 14.5% of its loan book is in default and is in line with the wider bridging and development finance market; the property lender’s loan book now totals £300 million. Source
The Federal Open Market Committee raised its target for the federal funds rate to 0.50% to 0.75% at its December meeting; Fed officials also signaled a more aggressive approach for rate increases in 2017 with projections showing the potential for three more rate increases next year; improvements in the labor market, positive GDP growth and stable inflation were key market factors for the rate increase. Source
Student loan marketplace lender, Earnest, has completed its fourth securitization; Goldman Sachs and Barclays were the lead arrangers; portfolio valued at $174.44 million; the October securitization is the fourth for the year with previous securitization deals in February, May and July. Source