Marketplace Lending News Roundup – August 19


During the week I share the latest marketplace lending news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.

PayPal acquires Swift; Lending Club and OnDeck Q2 Earnings from PeerIQ – The weekly PeerIQ newsletter delves into the recent LendingClub and OnDeck earnings.

SoFi Is Being Sued by an Employee Claiming He Was Fired for Reporting Sexual Harassment from Fortune – Bad news for SoFi. A former employee is suing the company and a class action lawsuit is coming.

How to get down payment help if you don’t have rich parents from San Francisco Chronicle – Good profile of Unison and how their unique HomeBuyer program works.

Samsung to Power Biometric Authentication Pilot for Bank of America from Finovate – Biometrics is going to become a big part of fintech. Bank of America is piloting a new system from Samsung.

Alan Gellman Joins Credible as Chief Marketing Officer from PRWeb – Personal finance marketplace Credible lands a seasoned veteran as their new CMO.

Daylight Transparency: A Win/Win for Lenders and Investors from eOriginal – Transparency is so important in marketplace lending and eOriginal weighs in on recent comments from Ron Suber.

Business Lending Dynamics Across the United States from Orchard – Check out this analysis by David Snitkof of Orchard on the diversity of the small business lending universe.

iFunding Insolvent, SEC Issues Subpoena as Investor Jazco Looks to Step In from Crowdfund Insider – Another real estate platform bites the dust, iFunding is out of business.

Marketplace lender Funding Circle forms strategic partnership with Aegon from AltFi – Big news for Funding Circle this week. They have received a £160M investment commitment from Aegon.

States developing single regulatory structure for fintech firms from American Banker – The lack of uniformity across state lines for financial regulation could be changing.

Fifth Third Bank Enhances Its Partnership with ApplePie Capital (press release) – In an unsurprising move Fifth Third Bank has committed to buying loans on ApplePie’s platform, they are already an equity investor.

Why cybercriminals like AI as much as cyberdefenders do from American Banker – Penny Crosman takes an interesting look at the competition in AI between cybersecurity and criminals.

Treasury minister: ‘Significant appetite’ for UK investment as Dutch insurer Aegon signs £160 million Funding Circle deal from Business Insider – Why the Aegon investment in Funding Circle is a big deal for the UK fintech industry.

RateSetter withdraws from P2PFA after breaching transparency rules from Peer2Peer Finance News – In the UK RateSetter has withdrawn from the P2PFA over transparency issues.

Five Key Things To Know About LendingClub Notes from LendingClub – This week LendingClub released a paper to help retail investors understand what is important.

China Rapid Finance Reports Unaudited Second Quarter 2017 Financial Results (press release) – Short term lender China Rapid Finance released their Q2 results this week.

From the Lend Academy Forum

The Lend Academy forum is where investors go to discuss p2p lending. Below are some topics that were being discussed this week.

Winding down my account – An investor explains why they have decided to wind down their account.

Question about monthly return – A new investor asks what they can expect in payments when investing in Lending Club.

5 Key Things to Know About Investing at LendingClub – Lending Club has released a brochure to help investors understand investing at Lending Club.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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