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.
Rising Inflation, Bank Earnings, Deep-Dive on Inflation Trends from PeerIQ – The latest PeerIQ newsletter takes a look at inflation, growth in consumer credit, bank earnings and more.
Investors left to rue losses as fraudulent Chinese P2P lenders collapse in tighter regulatory environment from South China Morning Post – In China the p2p lending fallout continues as more platforms fail and investors are left with losses.
Banks’ approach to risk data is deeply inadequate from Financial Times – Only three of the top 30 global banks are doing an adequate job of managing their risk data.
Average Credit Card Debt in the U.S. in 2018 from MagnifyMoney – In the past year Americans have paid $104 billion in credit card interest and fees up 11% over the previous year and 35% over the past five years.
As CRE Lending Landscape Shifts, Nonbank Lenders Step Up from Forbes – Could the US commercial property market be headed for a downturn? The CEO of Money360 digs into this question and the shifting role of direct lending platforms.
Under new CEO, full speed ahead for Goldman’s consumer push from American Banker – The American Banker take on the new Goldman Sachs CEO and what this might mean for the company’s fintech efforts.
LendingClub turns to outsider to oversee credit operations from American Banker – In hiring news LendingClub has created a new position at the firm, Chief Lending Officer and have recruited an executive from GreenSky.
CFPB Wants to Help Launch New Fintech Products from The Wall Street Journal – Big news from the CFPB this week. While they have had Project Catalyst for some time to encourage fintech innovation, they will soon launch their own regulatory sandbox.
The Founder Of Tala On Her Leap From Finance To Fundraising For Her Mission-Driven Startup from Forbes – Interesting piece on Shivani Siroya of Tala and the great work her team is doing to expand access to credit in developing countries.
Some challenger banks are challenging from Chris Skinner’s Blog – The growth in customer bases at the new digital challenger banks in the UK has been impressive writes Chris Skinner in The Finanser.
Regulators Need To Use Big Data, Artificial Intelligence To Meet Fintech Challenge, Says U.S. Rep from Forbes – Comments from Congressman Patrick McHenry. Regulators should be using the latest technology such as AI and big data as they think about regulatory innovation. Of course they should be.
Elevate launches prime credit card for non-prime consumers from BanklessTimes – Subprime lender Elevate has released a new credit card called Today Card with some interesting new features.
Income-share agreements are a novel way to pay tuition fees from The Economist – Some university tuition is “overpriced and unconnected to the economic value of their degrees”. For others ISAs can make sound economic sense as The Economist points out.
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.
Worst Month Yet – Investors report on their June account performance.
New Platform – LendingClub has rolled back some changes to their investor interface.
LC stock up .32 a share the last 2 days- no breaking news- anyone know why? – Forum members discuss LendingClub’s recent stock price.
