Marketplace Lending News Roundup – February 17

News

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.

Weekly Industry Update: Equity Market Volatility, GS Dialing Up M&A from PeerIQ – In the latest PeerIQ newsletter they discuss Goldman acquisitions and three big securitizations that have already closed in 2018.

Most companies are unprepared for a cyberattack from The Finanser – This is something we must address. While US and UK companies are better prepared than most, companies big and small are largely unprepared for a cyber attack.

How the Innovative Finance ISA can take off from AltFi – In the UK the Innovative Finance ISA has very little awareness among the public and has attracted meager assets thus far. This needs to change in 2018.

Forbes Fintech 50 2018: The Future Of Lending from Forbes – Some great names on this list. From the Forbes Fintech 50 these leaders are defining the future of lending.

Bill to address Madden ruling would be nightmare for consumers from American Banker – This op-ed in American Banker misses the point on how the “Madden Fix” bill will actually help consumers but it is still good to hear the other side of the argument.

Fortress Balance Sheet: Goldman Sachs’ Online Lender Marcus Has Access to $17 Billion in Deposits from Crowdfund Insider – We have known for a long time that Marcus could draw on a large deposit base. Now Goldman Sachs CEO has confirmed that there is $17B in deposits available for Marcus.

Banks, Alt Funders Continue to Compete for Small Business from deBanked – There are many more options today for small business loans than ever before. Good rundown by deBanked.

Blankfein Says Marcus Will ‘Move the Needle’ in Coming Years from Bloomberg – Yet another indicator of how serious Goldman Sachs is on their Marcus business unit. CEO Lloyd Blankfein says he expects Marcus to “move the needle for the firm over the coming years”.

Amazon has partnered with Bank of America for its lending program: Sources from CNBC – Looks like the unnamed bank that has been providing a revolving credit facility for Amazon Lending is Bank of America.

Banco BNI Europa to invest with CrossLend from Peer2Peer Finance News – Portuguese digital bank Banco BNI Europe continues to add to its investment portfolio, this time with an investment in loans issued by Berlin-based CrossLend.

BBVA-backed U.S. digital banking startup Azlo readies for launch from Reuters – European banking giant BBVA is launching a new digital bank in the US called Azlo.

China Gets Pushback on New Rules to Curb Lending Practices from The Wall Street Journal – It is interesting that some large banks in China are pushing back against regulators on new lending reforms.

MonJa’s Small Business Lending Interview Series: Brett Baris, CEO and Co-Founder of Credibility Capital from MonJa – Good interview with the CEO of small business lender Credibility Capital.

Roostify raises $25 million to fund growth of digital lending platform from HousingWire – Roostify is becoming a leader in digital mortgage origination and they just closed a big Series B funding round.

Americans Can’t Get Enough Consumer Debt from The Wall Street Journal – Total consumer debt, excluding mortgages, rose to $3.82 trillion, the highest since record keeping began.

Fintech-friendly Cross River Bank partners with PeerIQ on loan data from American Banker – Another interesting new partnership between the one of the leading data analytics providers and the leading fintech bank.

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.

What is Your Minimum Acceptable Return – 43 forum members responded to a survey about their minimum acceptable return with marketplace lending.

Prosper 1099 Tax forms for tax year 2017 – An investor asks about Prosper’s 2017 tax forms.

tax question: “worthless security”? – Forum members share their experience in filing their taxes.

Loan Availability by Initial Listing Status, 17Q3 – One investor looks into A grade loan availability offered to retail investors.

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