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.

Scandal costs Sofi chance to become a bank, says ex-SEC head from Financial Times – Former SEC Chairman and SoFi advisor Arthur Levitt says the scandal has made a banking license very unlikely now.

Weekly Industry Update: SoFi CEO Resigns; Goldman & Mosaic Ink Deal; SoFi & Lending Club Deal Analysis from PeerIQ – PeerIQ looks at the most recent SoFi consumer loan securitization comparing it to their previous deals.

The Next Crisis Will Start in Silicon Valley from Bloomberg – I don’t agree that “the fintech revolution has created an environment ripe for instability and disruption”.

Goldman expects to hold $28bn of online loans on balance sheet by 2020 from AltFi – No one should have any doubt that Goldman Sachs is going to be a very big player in online lending.

Don’t let court squander online lenders’ chance to reach underserved from American Banker – Great op-ed in American Banker by Nathaniel Hoopes on why the Madden decision needs a legislative fix.

Roll Rate Analysis: Estimating the Value of a Pool of Loans from Orchard – More great statistical analysis from Orchard, this one on roll rates.

Younited Credit raises $47.8 million for its crowdlending platform from TechCrunch – The leading marketplace lending platform in France, Younited Credit, just raised €40 million in equity. [Read more…]

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.

Goldman Sachs to take on UK retail banks from Financial Times – Both banks and fintech lending platforms in the UK should be paying attention to this latest move from Goldman Sachs.

‘Once you’re a pirate, serving in the navy is hard’: Dan Kimerling goes back to his VC roots from Tearsheet – Interesting piece on an entrepreneur turned banker and the tension between those two worlds.

CECL Overview, Square’s Bid To Be A Bank, Equifax Data Breach from PeerIQ – The PeerIQ weekly newsletter analyzes a recent accounting standard change for expected credit losses.

Zopa’s Andrews warns on post-Brexit skills shortage from Peer2Peer Finance News – One of the negatives of Brexit is going to be a shortage of skilled workers argues Giles Andrews.

Employees of Fintech Firm SoFi Allege Women Are Treated Improperly from The Wall Street Journal – More from Peter Rudegeair on the treatment of women and the current allegations at SoFi.

Sex Scandal Simmered for Years Before Silicon Valley C.E.O.’s Swift Fall from The New York Times – More details from the New York Times on a history of inappropriate conduct by high level execs within SoFi.

Goldman Banks on Lending to Grow from The Wall Street Journal – Goldman Sachs is going all in on lending as an engine for future revenue growth. [Read more…]

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.

Debit cards, a trillion in debt, and millennials: What could go wrong? from American Banker – Leading bank Fifth Third has an interesting new fintech initiative to help students pay off debt.

Weekly Industry Update: US GDP Growth Revised Upwards, FinTech ILC Debate; OneMain Deal Analysis from PeerIQ – The PeerIQ newsletter compares last week’s OneMain securitization to other recent deals.

AutoGravity CEO Andy Hinrichs on CNBC On the Money with Becky Quick from YouTube – I like what AutoGravity is doing to disrupt car buying. Great interview with Becky Quick on CNBC.

Ousted Lending Club chief boosts volumes at new venture from Financial Times – Comments from Renaud Laplanche of Upgrade on their progress so far.

Square’s bid to be industrial bank inflames ILC debate from American Banker – Big news from Square. Like SoFi they are applying for an industrial banking license.

CEO resigns from branch-based P2P firm from AltFi – The CEO of UK small business lender Folk2Folk has resigned suddenly.

Equifax Reports Data Breach Possibly Affecting 143 Million U.S. Consumers from The Wall Street Journal – Well this is not good. Equifax is reporting that hackers gained access to some of its systems. [Read more…]

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.

SoFi’s bid for deposit insurance draws fire from top House Democrat from American Banker – The SoFi application for a banking license remains controversial in Washington.

Weekly Industry Update: FinTech Partnerships Continue; Debate on Regulatory Reform from PeerIQ – This week PeerIQ looks at regulatory reform and the new ways banks are acting as intermediaries.

Prosper Performance Update: July 2017 from Prosper – The Prosper monthly performance numbers for July are out.

Amazon is a threat to banks — just not in the way you think from Tearsheet – Interesting look at Amazon’s technology platform and its impact on financial services.

Rumor: Online Lender Float Has Shut Down from Crowdfund Insider – Looks like Float, a small dollar online lending platform, has shut down.

3Q 2017 PitchBook Fintech Analyst Note: Marketplace Lending from PitchBook – This PitchBook report on marketplace lending says that equity investment YTD is already above all of 2016.

Ford, MCA Funders Take Pages from Tech-Based Underwriting from deBanked – Machine learning is becoming the key foundation for advanced underwriting today. [Read more…]

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.

Investors have become skeptical about online lending since early pioneers flamed out from CNBC – All online lending CEOs know that the easy money is long gone but this article has numbers confirming this.

Fintech student lending platform raises $240m from AltFi – Another big funding round closed, this one by Prodigy Finance, a $40M Series C and $200M debt facility.

Weekly Industry Update: Regulatory Clarity in Sight for Madden V. Midland; Q2 Earnings Season Highlights from PeerIQ – Interesting look at the numbers comparing banks, non-banks and credit card lenders.

Tech Banks: Will Fintech Dethrone Traditional Banking? from deBanked – Great piece profiling several small to midsize banks who have become leaders in fintech.

‘You don’t just build a bank overnight’: Digital start-up Starling taking financial services by storm from CNBC – In the UK Starling Bank is one of the leading digital banks. CNBC has this profile of their founder and CEO.

Wal-Mart Nears a Pilot Deal to Offer Customers Installment Loans from The Wall Street Journal – This is huge. Affirm is near an agreement with Walmart to pilot a POS loan product for purchases over $200.

Keep CRA for fintech, but lose its geographic boundaries from American Banker – Most people agree the Community Reinvestment Act needs to be reformed. Here are some ideas on how to do it. [Read more…]

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.

Online lenders upbeat about turnaround progress, but worries linger from Reuters – More commentary on the LendingClub and OnDeck earnings reports Monday.

How this social entrepreneur is bringing banks to the fingertips of the unbanked from Huffington Post – Interesting interview with the CEO of Humaniq on their vision to help the underbanked in the developing world.

P2P Lending: MarketInvoice Loanbook Snapshot from LinkedIn – Interesting analysis of the MarketInvoice loan book in the UK.

PFM apps are folding as banks work them into their own apps from Tearsheet – Yet another personal financial management app is closing down after being acquired.

Tandem plots new growth strategy buying Harrods Bank from AltFi – In the UK Tandem will be back in the banking business with the acquisition of Harrods Bank.

Lending Startup Earnest Is Working With Barclays to Find Buyer from Bloomberg – It will be very interesting to see who ends up buying online lending platform Earnest.

Journal Entry: LangDi FinTech Conference in Shanghai. The Biggest Fintech Meetup In The World! from Crowdfund Insider – Great piece by Timothy Li on his experience this year in China with LendIt. [Read more…]

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.

Advanced Analytics And The Future of Digital Lending from The Financial Brand – Banks need to do more than create an app. Digital should be at the core of their lending systems.

Earnings Season Continues—Bank and Card Issuer Charge-Off Trends; GS Select; FinTech Partnerships from PeerIQ – The PeerIQ newsletter looks at loan loss reserves at big banks as well as the outlook for consumer lending.

Revolut’s $5.3 million crowdfunding campaign is oversubscribed from TechCrunch – UK neobank Revolut is on a roll. Their latest crowdfunding campaign is massively oversubscribed.

Mobile bank N26 launches loans with credit marketplace Auxmoney from Banking Technology – Another interesting fintech/bank partnership. Digital bank N26 has partnered with German platform auxmoney.

Banco BNI Europa names German marketplace lender Creditshelf as latest partner from AltFi – The second German fintech partnership of the week: BNI Europa is partnering with Creditshelf.

John Mack-Backed Data Startup Announces New Funding and Partners from Bloomberg – It was a big week for PeerIQ. They announced a $12M Series A with the likes of TransUnion, Hearst and Macquarie.

Small business loan platform Kabbage nabs $250M from Softbank from TechCrunch – A huge new funding round for Kabbage, an up round with $250M from SoftBank. [Read more…]

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.

SEC Focus on Capital Formation & Enforcement, and What it Means for Direct Lending from PeerIQ – This week’s PeerIQ newsletter discusses SEC enforcement as well as valuation issues.

Will banks in the US dominate consumer lending once again? from AltFi – My guest post on AltFi about banks and their return to consumer lending.

Affirm now has 1,000 retail partners from TechCrunch – Point of sale lender Affirm is getting good traction with more than 1,000 merchants signed up.

Moody’s upgrades seven tranches from four Prosper marketplace lending ABS securitizations from Moody’s – Good news for Prosper as Moody’s upgrades seven tranches from some 2015 securitizations.

PayPal & LendUp Bridge Financial Inclusion Gap from deBanked – Sasha Orloff of LendUp talks financial inclusion and their partnership with PayPal.

The Amazon Model: Can New-Age Technology and Local Touch Co-Exist in Lending? from Forbes – Brock Blake of Lendio says that small business lending is always going to be about great technology and the personal touch.

Fintech Firm Backed by Warburg Pincus Files for Bank Charter from The Wall Street Journal – Digital banking startup Varo is applying for a full banking license. [Read more…]

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.

How credit unions are embracing fintech to stay competitive from Tearsheet – It is not just banks that are partnering with fintech platforms, credit unions are as well.

‘New York doesn’t allow that’: Maria Vullo stares down fintechs, OCC from American Banker – The head New York finance regulator is playing hardball with fintech platforms.

Why I’m backing peer-to-peer lending from RateSetter – The new Non-Executive Chairman at RateSetter is a City legend, also the Chairman of Prudential. This is a big deal.

Squaring All-Time High Credit Scores With Higher Delinquencies from PeerIQ – The PeerIQ newsletter looks at the results from the three big banks and the flaw in FICO scores.

PBOC calls upon fintech firms to help fund system to monitor online transactions from South China Morning Post – Commentary on the PBOC’s research head speaking at Lang Di Fintech on the weekend calling for a new monitoring system.

China’s Internet Sector Grows Up from Institutional Investor – There is a new China and it is leading the world in fintech, leaving the west behind.

Renaud Laplanche’s Second Act from PYMNTS – Good piece on Upgrade, Renaud Laplanche’s new company and what makes it different. [Read more…]

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.

Regulator Warns Banks on Use of New Technologies from The Wall Street Journal – The OCC has warned banks to be careful when seeking partnerships with fintech firms.

SocietyOne’s lending tops $300 million, bucking personal credit weakness from The Sydney Morning Herald – In Australia the leading marketplace lending platform is getting good traction.

Challenger Bank BNI Europa Announces “Puzzle”, an Online Lender to Streamline Consumer Credit from Crowdfund Insider – Innovative European digital bank BNI Europa has launched a consumer online lending platform.

Funding Circle Germany Publishes Loanbook Performance Figures from P2P-Banking – Wiseclerk gives his perspective on Funding Circle Germany performance numbers just published.

Fintech Remains Loyal to Prosper & Suber from deBanked – More perspectives on the official departure of Ron Suber as President of Prosper.

German Consumer Lender Auxmoney Passes the Half-Billion-Euro Mark from Crowdfund Insider – German online lending platform auxmoney has passed €500M in total loans originated.

dv01 Launches Strategic Reporting Partnership With Upgrade from PR Newswire – Analytics platform dv01 has signed up Renaud Laplanche’s Upgrade in their latest reporting partnership. [Read more…]