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Peer to Peer Lending News Roundup – August 24, 2013

by Peter Renton on August 24, 2013

During the week I share the latest p2p 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.

Slow news week this week with just five articles that hit my radar as worth sharing.

Vintage Analysis – How Loans Perform With Age from Orchard – Some great charts here showing a comparison in charge-offs over different years at Lending Club.

Taxman in talks to include peer-to-peer lending in Isas from The Telegraph (UK) - We are lucky in the US because we can include all kinds of investments including p2p lending inside retirement accounts. This is now being considered in the UK.

SoMoLend investigation ‘smells’ of retaliation, attorney says from Columbus Business First – Candace Klein’s attorney goes to bat for her over the Ohio Division of Securities allegations.

Few Available Loans on Lending Club or Prosper? 5 Ways to Find More from LendingMemo – We all know that Prosper and particularly Lending Club is becoming more competitive for investors.

“Maybe I’ll make my next startup a bank” – 5 top trends from the future of banking from Venture Village – Peer to peer lending is one of the top five trends for the future of banking according to this author.

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.

Fairer Solutions to Excess Investor Demand – A serious call for ideas about what can be done to help investors with the huge investor demand at Lending Club. Some great ideas here.

Lending Club Sells Out of Loans – The points in the above thread became even more urgent with Lending Club completely running out of loans on Friday night.

What exactly is API? – An explanation of the Application Programming Interface and how it applies to p2p lending.

{ 4 comments… read them below or add one }

Dan B August 24, 2013 at 8:36 am

What is the world coming to. First time ever that a US p2p company runs out of notes (for a few hours) & also first time ever (I believe) that this site has gone a full week without a new article. Not complaining Peter, just thought you’d appreciate that someone noticed. :)

Reply

Peter Renton August 24, 2013 at 9:30 am

Thanks for noticing. I did have an article that was supposed to go out last week that I needed to delay to the following week. And I have been traveling a lot the last couple of weeks (some personal, some work) but will be back on a regular publishing schedule next week.

Reply

Dan B August 24, 2013 at 9:16 am

If the first paragraph of the “Somolend Investigation smells of retaliation” article is any indication of this lawyers’ argumentative skills. then perhaps Candace Klein’s attorney should have just stayed in the dugout instead of going to bat for her.

The paragraph reads: ” SoMoLend founder Candace Klein is being targeted by Ohio regulators jealous of her work advocating that regulations be loosened on crowdfunding and turned over to federal officials, her attorney told the Cincinnati Business Courier.”

So Ohio regulators are coming after her because they are “jealous” of her work? Really? What does that even mean?

They are coming after her because she is proposing regs that will circumvent their authority, make them less relevant, diminish their power. Her attorney could have said that they’re angry at her or annoyed at her or infuriated with her or fearful of her work or a bunch of other terms that could have conveyed the message that this investigation was in retaliation for her unwelcome actions………………but no, her attorney came up with “jealous” of her work. As if the regulators are envious of her, or that they covet the work. she is doing. You know it makes perfect sense. They’re jealous of her work in that they wish that they themselves were in the position to propose regs which if enacted would circumvent their own authority, limit their own power & render them irrelevant. Yeah, that’s likely. :) I mean if you feel like you have to use “jealous” at least go with jealous of her power or something like that.

Reply

Peter Renton August 24, 2013 at 9:36 am

Agree that was a poor choice of words and hopefully not indicative of the strength of this attorney. Of course, as I have often learned, when being quoted by a reporter they don’t always get your words or your meaning correct.

Reply

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