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.
Lenders without border walls from American Banker – New immigrants are one of the most underserved populations when it comes to credit. Several new fintech companies are working hard to change this. Good analysis from Penny Crosman.
Raising Money in the Crypto World Has Gotten a Lot Harder from The Wall Street Journal – Year over year the ICO market was down over 98% in the first quarter, a staggering decrease that prompted the first line in this WSJ article “The ICO market is dead”.
Peter Thiel and Li Ka-shing Have a Banking App for America’s Generation Z from Bloomberg – One of the European digital banks intending to launch in the US this year is N26. See the rapid growth they have experienced in this interesting piece in Bloomberg.
Industry hits back as FCA warns on IFISA risk from Peer2Peer Finance News – Yesterday in the UK the FCA issued a warning to investors on the Innovative Finance ISA and today the fintech industry hit back.
Revolut whistleblower had concerns over CEO conduct and compliance from the BBC – Also in the UK more bad news for Revolut. The BBC has learned a whistleblower had gone to the FCA in 2016 with concerns on compliance and the conduct of the CEO.
Class Action Lawsuit Filed Against Brendan Ross, Direct Lending Investments, and Others from deBanked – A class action lawsuit has been filed against Brendan Ross, Direct Lending Investments and others who may have been involved in the alleged fraud.
LendingClub’s Computers No Worse at Lending Than Humans, Study Finds from TheStreet – A new report out by the Philadelphia Fed compares the underwriting at LendingClub to that of the largest banks. [Read more…]