Marketplace Lending News Roundup – April 8

News

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.

Financial inclusion rules tougher than CRA in OCC fintech charter from American Banker – Interesting piece around financial inclusion and the new OCC fintech charter.

China P2P industry lending nears Rmb 1tn despite crackdown, new regulations from Financial Times – Despite new regulations being implemented last August the Chinese p2p lending industry continues to grow.

Statistic of International P2P Lending Services March 2017 from P2P-Banking – The March p2p lending loan volumes are out for Europe with Funding Circle the clear #1 again.

JPMorgan’s Head of New Technologies Hired by Lending Club from Bloomberg – Interesting that Lending Club has hired a new head of M&A away from JPMorgan.

John Mack is named chairman of Lantern Credit from American Banker – John Mack, who has been on the board of Lending Club for years is now the chairman of Lantern Credit.

Kabbage Exceeds $3 Billion Mark, Lends to over 100,000 SMEs from Crowdfund Insider – Kabbage has passed another milestone: $3 billion in total loans issued.

The OCC Fintech Charter is a Key First Step, Not the Last Word from Crowdfund Insider – The MLA Director pens an interesting piece on the OCC Fintech Charter.

Asset Management & Institutional Advisory Firm NewOak Forms Partnership With LendingArch to Purchase Up to $2 Billion in Consumer Loans from Crowdfund Insider – Canadian marketplace lending platform LendingArch has received a $2B funding commitment.

Redrawing the lines: FinTech’s growing influence on Financial Services from PwC – A new report from PwC says that banks will be looking to buy fintech platforms over the next 3-5 years.

Q4’16 Loan Originations Fall YOY For Digital Lenders, Capping Off A Rocky Year from S&P Global Market Intelligence – According to S&P Global Market Intelligence 2016 originations at marketplace lending platforms totaled $28B.

Elevate Credit pops more than 19% in trading debut, after pricing IPO below expectations from CNBC – The first online lending IPO in some time occurred yesterday when Elevate went public.

Online lenders spooked by Colorado’s tough stance on interest rates from American Banker – There is a battle raging between Colorado and online lending platforms over interest rates.

Funding Circle’s fund doubles in size after raising £142m from P2P Finance News – The publicly traded Funding Circle SME Income Fund now has assets in excess of £300 million.

It’s official: Monzo’s now got a full banking license from the Bank of England’s PRA and the Financial Conduct Authority from City A.M. – Also in the UK digital bank Monzo has been approved for a full banking license.

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.

Renaud Laplanche new company Upgrade (formerly Credify) – The forum discusses Renaud Laplanche’s latest company.

Offering Hardship Plans for Borrowers and Protecting Returns for Investors – Lending Club is offering hardship plans to their borrowers by offering an interest only payment for a short period.

Service fees – Investors dig into Lending Club’s service fees.

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