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.
Re-Banked from deBanked – An excellent review of the many fintech-bank partnerships with commentary from many industry leaders.
An obscure regulatory debate has put the entire U.S. fintech community on edge from Techcrunch – While I wouldn’t say the fintech community is on edge about it the new OCC Charter is a big deal.
Weekly Industry Update: Credit Trend Through Delinquency Rates from PeerIQ – In the latest PeerIQ newsletter they dig into credit card delinquencies.
UK digital lenders can harness growth opportunities with more tech innovation from S&P Global Market Intelligence – In the UK S&P Global has a new report out covering marketplace lending, showing 101% growth over past 5 years.
CFPB’s ‘project catalyst’ failed. Fintech deserves better from American Banker – One of the best articles I have ever read on what’s needed for #fintech regulation by Congressman Patrick McHenry.
CommonBond Launches Direct Student Loans For Undergraduates from FastCompany – CommonBond has expanded beyond refinancing student loans to offering loans to all students at non-profit colleges.
California finance startup opening downtown Phoenix office, hiring up to 300 from Phoenix Business Journal – Renaud Laplanche’s new startup, Upgrade, is opening a Phoenix office with plans to hire 300 people there.
Chinese money market fund becomes world’s biggest from the Financial Times – It didn’t exist five years ago but Alibaba’s Yu’e Bao money market fund is now the world’s largest at $165 billion under management.
Marketplace Real Estate Lending from Prime Meridian Capital Management – A good primer on marketplace lending for real estate.
Credit card losses climb as consumers take on more debt from American Banker – As consumers have loaded up on credit card debt defaults have begun to rise.
State Banking Regulators Sue Feds Over Fintech Charter Proposal from The National Law Journal – State banking regulators hate the OCC Fintech Charter so much they are going to court over it.
P2PFA members lent out more than £1bn in first quarter from P2P Finance News – The UK P2P Finance Association released member loan numbers for Q1 2017, over £1B originated.
Fintech – which side of the chasm are you on? from AltFi News – A look at the the adoption of fintech and where we are on the famous diffusion curve.
McHenry Working With Senate Democrat on New Fintech Bill from Bloomberg BNA – Congressman McHenry is working on a new version of the Financial Innovation Act, a bill that he introduced to Congress last year that did not advance.
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.
A view of LC’s deteriorating investor returns – The latest on this popular forum post looks at the Orchard Index to demonstrate the deteriorating returns.
Loan Prediction with Deep Learning / A.I. – A new investor shares his deep learning model for investing in Lending Club loans.
New to LC-Bad Timing? – Another new investor wonders if today is a good time to start investing or not.