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.
SoFi Completes Largest Consumer Loan Securitization to Date from Crowdfund Insider – The largest ever marketplace lending consumer loan securitization has been completed by SoFi.
Goldman Sachs’ new online lending business just hit a $2 billion milestone from Business Insider – It’s official. Marcus has crossed $2 billion in total loans originated according to the Goldman CFO.
Fed study finding fault with online lending sparks backlash from American Banker – More on the Cleveland Fed’s so called research paper on online lending.
Exclusive interview: P2P boss Rhydian Lewis on how RateSetter weathered the storm from AltFi – Wide ranging interview with the CEO of Ratesetter on its challenging year.
Goldman Sachs’ Marcus is winning the personal loans arms race from Tearsheet – Goldman says that Marcus will lend $13B over three years. I won’t be betting against them.
2017 Fintech100 from KPMG & H2 Ventures – The Global Fintech100 list is out from KPMG and China take the top slots again.
Why banks are sub-branding new customer offerings from Tearsheet – There’s a reason large banks like Chase, Goldman Sachs & Wells are creating sub-brands for the fintech offerings.
Young, Carefree and Unsecured from Bloomberg – Unsecured consumer lending is booming in China as recent IPOs demonstrate.
PeerIQ Lending Earnings Insights Report from PeerIQ – The new PeerIQ Lending Earnings Insights Report analyzes earnings from banks, online lenders & card issuers.
‘Stop trying to think of this as a women’s issue’: Female fintech leaders call for more action on diversity from Business Insider – UK trade body Innovate Finance is out with their Women in Fintech Powerlist with over 300 female leaders.
Why Cleveland Fed should retract its online lending study from American Banker – The MLA director calls for the Cleveland Fed to retract its recent report on online lending.
PayPal Makes Growth Play as Market Cap Tops $90 Billion from The Wall Street Journal – PayPal is exiting the consumer loan business, selling its portfolio to Synchrony and outsourcing future loans.
Don’t Forget about Loan Recoveries – Part 2 from Orchard – Part 2 of Orchard’s excellent series on loan recoveries.
In lending its all about the recovery from AltFi News – David Stevenson discusses the importance of recovering loans that go bad in small business lending.
Senate Approves Joseph Otting for Top Banking Role from The Wall Street Journal – The OCC finally has a new leader with Joseph Otting replacing interim chief Keith Noreika.
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.
Dear LC – Forum members chime in on recent performance, competition in the consumer loan market and more.
Discount on notes Liquidation – An investor asks about liquidating Lending Club loan portfolios.
LC Cash on Balance Sheet Down – Forum members reflect on Lending Club’s third quarter earnings and their securitization program.