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.
No Branch, No Problem. Citigroup Bets Big on Digital Banking. from The Wall Street Journal – We start out the week with an interesting piece on Citi in the WSJ . Their bet on digital is paying off with $1B in new digital deposits in Q1, more than all of 2018.
Fintech executive sworn in as California’s top financial regulator from American Banker – The California Department of Business Oversight has a new commissioner and it is someone with an intimate knowledge of fintech, having just been general counsel of Affirm for the past several years.
Some Small Businesses See Big Benefits in Online Financing from The Wall Street Journal – The latest Federal Reserve small business credit survey shows an increasing percentage of loans going to online lending platforms and while many like the convenience and speed some rue the high cost.
Credit Card Loan Performance; PeerIQ’s Modeling Archive from PeerIQ – This week’s PeerIQ newsletter analyzes the metrics from the largest credit card issuers and determined that delinquencies have picked up from their lows but remain significantly below their peaks.
Payday Lenders Drum Up Customer Support to Ease Regulations from The Wall Street Journal – The payday lending industry is soliciting customers to write comments to the CFPB demonstrating support but many of the comments are remarkably similar…
PeerStreet Reports Accelerating Growth as the Real Estate Platform Tops $2 Billion in Property Lending from Crowdfund Insider – Real estate platform PeerStreet continues to grow. Interesting interview with co-founder Brett Crosby.
UK becomes world’s top fintech hub as startups rake in £4.5bn from City A.M. – This is why we have LendIt Fintech Europe in London every year. It is not just the top fintech hub in Europe it is the world leader.
But We Have a Relationship…. from Fintech Junkie – The latest from Fintech Junkie (Frank Rotman) takes on relationship banking and how big banks often mistake inertia for a real relationship. But there is a new era of relationship banking close at hand.
T-Mobile Money Rocks Banking Model Using Fintech Engine from The Financial Brand – Good in-depth piece on the new T-Mobile Money account that has been developed with BankMobile.
Meet the 2019 CNBC Disruptor 50 companies from CNBC – The annual Disruptor 50 list is out from CNBC featuring private companies whose innovations are changing the world. Several top fintech companies made the list.
Goldman Sachs execs are opening up about their plans for Marcus, and they think it can do to banking what iTunes did to the music industry from Business Insider – Fascinating piece on Marcus and their plans to become a major player in consumer finance.
Treasury Official Hired to Fix Fannie and Freddie Is Leaving from The New York Times – This is actually pretty big news for fintech because Craig Phillips knew our space well and was a supporter.
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.
LC now dropping E grade loans – Investors reflect back on historical returns after learning that LendingClub will no longer offer E grade loans.
STRATA Public Unsecured Notes balance not equal LC balance – An investor shares an issue related to closing out a LendingClub IRA.