SoFi’s lending goal in 2017 was to lend more than they had in the previous 5 years combined; the online lender fell 26 percent short of the goal and instead lent out $12.9bn in 2017; the company had seen their share of issues in the last year with sexual misconduct claims and their CEO being forced out; SoFi spokesman Jim Prosser said the true goal for 2017 was closer to $13bn and the higher amount was a stretch goal. Source.
While speaking at an event at Georgetown Law School Acting OCC Head Keith Noreika defended the proposed fintech charter; Mr. Noreika also took questions on the fear of commercial companies being granted banking charters; “A national bank charter is a special thing, and the OCC will not undermine its value by granting charters to companies that are not ready to meet our admittedly high expectations” said Noreika. Source.
The official launch of the Apple Card ratcheted up the pressure on banks and fintechs as the fear of big...
T-Mobile recently announced a partnership with BankMobile to offer mobile money accounts to serve the underbanked population in the U.S.;...
Peter Renton, Founder of Lend Academy was at the American Banker Digital Lending + Investing conference last week; Renton reflects on the discussion with the leaders of Marcus, shares the progress of the company thus far and his perspective on Goldman's venture. Source
LendingClub’s HQ in San Francisco hosts many of the perks of companies in the area like stocked kitchens, games and...
PeerIQ's weekly update covers the recent partnership by Acorns and PayPal, household debt in the US and a new Bain survey that shows people are more willing to try fintech products; LendingClub filed its latest securitization deal for $330mn and Kroll upgraded all three classes of the Earnest EARN 2016-B deal; they also took a deep dive on TransUnions recently released fintech study. Source.
Lenders and credit reporting firms are still working through how to handle the current state of the US consumer; lenders...
On Monday of this week LendIt Fintech Digital members were able to watch the godfather of fintech, Ron Suber, opine...
At LendIt Fintech USA 2019, then CEO of Green Dot, Steven Streit and the CEO of Stash, Brandon Kreig had...