Marketplace Lending News Roundup – October 1, 2016

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.

Instant Lending Made This College Dropout a Billionaire from Bloomberg – The most successful new alternative lender that you may not know is GreenSky. Great profile in Bloomberg.

New GC takes Helm at Lending Club from Crowdfund Insider – Scott Sanborn continues to rebuild the Lending Club exec team. They now have a new GC.

“Good guy” loan startup LendUp pays $6.3M for overcharging violations from TechCrunch – One of my favorite companies is LendUp but they have been fined for some bad practices from their early days.

Goldman Sachs Reveals New Details About Its Consumer Lending Arm from American Banker – More information is slowly coming out about Marcus, the new Goldman Sachs consumer lending platform.

Funding Circle Hits £1.5 Billion Mark Lent to British Businesses (Infographic) from Crowdfund Insider – Funding Circle UK crosses another milestone, £1.5B lent to small businesses.

In an increasingly intermediated industry, what’s the real value-add of a marketplace lending platform? from AltFi – Interesting piece about the interplay between marketplace lending platforms and ecosystem providers.

LendingClub Founder Renaud Laplanche is coming back to Disrupt from TechCrunch – The former CEO of Lending Club will be making his first public appearance at TechCrunch Disrupt in London.

Able Lending Receives $100 Million To Fund Small Business Loans Despite Wider Industry Slowdown from Forbes – Jacob Haar’s impact investment firm, CIM, invests $100M in Able to fund small business loans.

Canada’s First Regulatory Sandbox for Fintech? OSC Announces Plans for “OSC LaunchPad” Innovation Hub from Lexology – In Ontario the securities regulators are creating an innovation hub as a regulatory sandbox.

Patrick Dunne: A Message to Investors from Lending Club Blog – A message from the new head of Capital Markets at Lending Club Patrick Dunne.

Cambridge ties up with City regulator for sector review from AltFi – In the UK the FCA is working with University of Cambridge to review alternative finance.

Prosper Closes Secondary Market from P2P-Banking – Claus from P2P-Banking gives his perspective on the closing down of the Prosper’s secondary market.

LendingClub Fund Has First Negative Month on Valuation Fix from Bloomberg – The LC Advisors fund from Lending Club had its first ever down month when they switched to a new valuation method.

The Ultimate List of LendIt Europe 2016 Speakers to Follow on Twitter from LendIt Blog – The list of speakers from LendIt Europe and their Twitter handles.

Balancing regulatory objectives in the dynamic consumer credit market from the FCA – In a speech given by their Director of Supervision, it looks like the FCA has authorized 12 p2p lending platforms.

BTIG Positive on LendingClub Corp (LC) Following Analyst Meeting from Smarter Analyst – Notes from the analyst meeting with Lending Club this week in NYC.

The charter war from Politico – The new fintech charter being proposed by the OCC is causing waves in Washington.

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 LC does when lender passed away? – A Lending Club investor asks what happens when a borrower passes away.

Note Trader Platform To Be Discontinued – Forum members comment on Prosper closing down their secondary market.

Is this normal or does my luck just suck – An investor asks the forum for their thoughts on his/her portfolio performance.

Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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