The settlement totaled $2 million with a Massachusetts banking regulator stemming from claims of making unlicensed loans; LendingClub made over 46,000 loans in the state since 2011 after surrendering their small loan company license; according to a LendingClub spokesperson, “We worked cooperatively with the State of Massachusetts to resolve a licensing dispute. Resolving this is another step in putting the legacy issues behind us and moving forward to concentrate on building the business. There will be no disruption to any operations as a result of this resolution, and we look forward to continuing to provide attractive financing opportunities to residents, patients and students in the State of Massachusetts.” Source
LendingClub is beefing up their security practices, adding a layer of security to product its data and applications; they are...
We recap the earnings results from LendingClub, OnDeck and GreenSky; LendingClub is off to a good start in 2019 and...
Steve Allocca is skeptical that the announcement this week of FICO 10, the new credit scoring model from Fair Isaac,...
Given LendingClub is a platform serving borrowers and investors there is a lot of transparency on what changes they are...
The Financial Conduct Authority (FCA) has approved LendingCrowd for full FCA authorization which allows the company to offer investments through IFISAs; the approval follows a £2.75 million Scottish Enterprise investment in the platform's small business loans last week; the FCA's last approval was in October for P2PFA member firm, Lending Works. Source
Today the company announced its first syndicated, revolving securitization of residential transition loans; LendingHome issued approximately $208 million of non-rated,...
LendingPoint has closed two securitizations, one composed of direct to consumer loans and the other of point of sale loans;...
George Popescu is the founder of LendingTimes, a publication dedicated to the online lending industry; he also serves as CEO of Lampix, an augmented reality company that offers a product creating 'smart surfaces'; the company announced it had crossed $4.5 million in funding through an ICO in minutes. Source
The new industry association called Digital Finance Forum was founded by Christian Faes and Ian Thomas; it aims to bring...