During the week I share the latest marketplace lending and fintech 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.
The founder of LendingClub, ousted two years ago, pledges not to make the same mistakes with his new company from CNBC – Interesting piece on Renaud Laplanche of Upgrade and what he is doing differently with his new company.
PeerIQ’s Benchmarking Product, Navient & Nelnet and the Student Loan Market, OnDeck milestone from PeerIQ – In this week’s PeerIQ newsletter they take a look at Navient and Nelnet and do a deep dive into their Benchmarking Tool.
How this regulator is using AI to probe financial fraud from American Banker – Love this piece by Penny Crosman. Any endeavor that involves sifting through millions of documents is a great application of AI. UK regulators are using this today to catch fraud faster.
OCC’s Otting: Why do state regulators want to limit consumer choice? from American Banker – The head of the OCC, Joseph Otting, pens an op-ed in American Banker responding to the states and the NYDFS on why they are wrong to bring a lawsuit over the fintech charter. I am in complete agreement with Comptroller Otting.
Funding Circle $2.6 Billion IPO Tests Post-Adyen Fintech Demand from Bloomberg – The Funding Circle IPO edges closer and according to Bloomberg they are likely to publish their pricing range as soon as tomorrow. A post IPO valuation of £2 billion is anticipated.
‘Just a matter of time’ before Amazon, Google enter mortgages: loanDepot CEO from American Banker – The CEO of loanDepot says it is not if but when…Amazon and Google enter the mortgage business.
Peer-to-peer lender Funding Circle to be valued up to $2.4 billion after IPO from CNBC – And now we know the price range for the upcoming Funding Circle IPO: 420 pence to 530 pence for a valuation of between £1.4b and £1.8b. We still don’t have a confirmed date yet. [Read more…]