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FintechNews RoundupUSA
·Aug. 24, 2017

Exploring the Potential of a Robo-Advisor IPO

Financial Planning explores the possibility of an IPO from the leaders in the robo-advice market including Betterment, Wealthfront and Personal Capital; the companies continue to raise money but some question the viability of the market; Betterment has over $10 billion in assets under management, Wealthfront has $7.4 billion and Personal Capital has $4.9 billion; the companies have a combined 420,000 clients and 548,000 accounts; article shares statements by each company regarding IPOs and the differences between the platforms. Source

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News RoundupOnline LendingUSA
·Mar. 2, 2017

LendUp Secures New Financing and Reaches Originations Milestone

LendUp has secured a new $100 million credit facility from Victory Park Capital bringing its total financing to $325 million; the firm has also announced a new lending milestone, with loan originations surpassing $1 billion from more than 3.3 million loans; the firm was launched in 2012 and seeks to support the emerging middle class through lending and financial education.  Source

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FintechUSA
·Jun. 11, 2020

FBI Warns Hackers Are Targeting Mobile Banking Apps

As the world has moved to mobile banking in the last three months hackers are moving there as well; in...
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FintechNews RoundupUSA
·Mar. 5, 2020

SEC Proposes Rule Changes to Crowdfunding and Reg A+

The Securities and Exchange Commission proposed significant changes to crowdfunding and Reg A+ in a big to boost the use...
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FintechNews RoundupUSA
·Jan. 4, 2019

How LendStreet Helps Consumers Deal With Unsustainable Debt

Fintech startup LendStreet helps consumers who become over leveraged and cannot handle the debt load they have acquired; it negotiates...
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News RoundupOnline LendingUSA
·Sep. 6, 2017

Lend Academy Article: Marketplace Lenders Lending Club and Prosper Respond to Hurricane Harvey

Both Lending Club and Prosper have announced several programs to help borrowers affected by Hurricane Harvey; Lend Academy shares an email to Lending Club investors which states approximately 30,000 live in the affected areas; Lending Club has made changes around collections calls, late fees, credit bureau reporting and hardship plans; Prosper has taken similar actions by waiving late and NSF fees as well as adjusting payment schedules. Source

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FintechNews RoundupUSA
·Sep. 25, 2017

Profile of MetaStable Capital, A Cryptocurrency Hedge Fund

Until now little has been known about the hedge fund that invests in cryptocurrencies; it is backed by big names including Andreessen Horowitz, Sequoia Capital, Union Square Ventures, Founders Fund and Bessemer Venture Partners; the firm owns about a dozen cryptocurrencies, taking a value investing approach; Fortune shares more details about how the fund operates and the eye popping returns the fund has returned to date. Source

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FintechUSA
·Jul. 28, 2020

Stoovo and Current Helping to Solve Banking for Black Consumers

According to 2017 data from the FDIC 47 percent of Black Americans were underbanked, compared to 20 percent of white...
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FintechNews RoundupUSA
·Jan. 7, 2019

Plaid CEO Offers up 2019 Fintech Predictions

CNBC sat down with Plaid CEO Zach Perret to talk about 2019 and what he thinks is on the horizon for...
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News RoundupOnline LendingUSA
·Oct. 17, 2016

Lending Club Sends Investor Letter on Interest Rate Increases

Lending Club's CIO, Siddhartha Jajodia, sent a letter to investors on October 14 alerting them of an increase in interest rates; Lending Club says it will increase loan rates by a weighted average of 26 bps with rate changes mostly concentrated in the lower credit quality loan grades; the rate increase follows a previous weighted average interest rate increase of 135 basis points from November 2015 to June 2016; the rate increase is consistent with a lower credit quality trend observed from the platform’s borrowers as well as a higher trending rate environment in the US; additionally the firm also reported changes to credit policy standards and improvements to its collections efforts.

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