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Marketplace Lending News Roundup – October 20

October 20, 2018 By Peter Renton Leave a Comment

Views: 301

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.

Barclays to challenge Goldman’s Marcus in US retail banking from Financial Times – In the US Barclays have been offering credit cards and savings accounts for years. They are about to offer checking accounts and soon personal loans as they look to go head to head with Marcus.

Rocky Week for Equities, Strong Bank Earnings, PeerIQ’s Risk Management Tools from PeerIQ – This week’s PeerIQ newsletter brings us the latest industry news as well as a summary of bank earnings and details on the OCC Fintech Charter.

As digital banks proliferate, so do risks from American Banker – It is not just the large banks that are looking to launch digital-only initiatives, community banks are considering this as well.

Lendio Milestone: Tops $1 Billion in Business Loans Facilitated Through Online Marketplace from Crowdfund Insider – Online small business loan marketplace Lendio has just crossed $1 billion in total loans since inception. Congrats to Brock Blake and the team!

China’s P2P lenders say regulation will cause industry collapse from Financial Times – In China they are now saying there will be 50-100 p2p lending platforms left after the regulatory crackdown. That is down from over 3,000 a couple of years ago and more than 1,500 today.

USAA dips toe into small-business lending from American Banker – An interesting and logical new bank/fintech partnership, this one between USAA and StreetShares for small business lending.

Online Lender Funding Circle Updates on US Loans in Form D Filed with SEC from Crowdfund Insider – Interesting piece on the investor growth at Funding Circle over the past five years taken from regulatory filings.

The Student Loan Debt Crisis Is About to Get Worse from Bloomberg – Over the last decade total outstanding student loans have grown faster (by far) than any other type of loan.

LendIt Interviews: Kaushalya Somasundaram of HSBC on the Future of Banking from LendIt Fintech – Here is a preview of a great session we will be having at LendIt Fintech Europe 2018, a fascinating interview with Kaushalya Somasundaram of HSBC on the Future of Banking.

No need to fight over the OCC’s fintech charter from American Banker – Interesting perspective from Brian Knight on how to resolve the standoff between the States and the OCC over the fintech charter.

FinTech and the Search for Full Stack Financial Inclusion from the Federal Reserve – Federal Reserve Board Governor Lael Brainard gave a speech this week on fintech and financial inclusion. Here is the full text of her speech.

Major banks target $1.5tn coverage gap with trade finance platform from Financial Times – Some of the world’s largest banks have launched the Trade Information Network to help address the trade finance coverage gap.

LendUp to split in two as fintech decides it’s worth more in pieces from San Francisco Business Journal – Big news from LendUp yesterday as it looks like they are selling their credit card division.

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.

Is LC no longer interested in retail investors? – Some forum members question whether LendingClub is still focused on the retail investor.

How could a note with pending payment be listed on FolioFn? – Investment orders in notes on the secondary market that have pending payments will eventually be cancelled.

Why not buy notes with a premium? – A LendingClub investor asks about a secondary market investment strategy.

Filed Under: News Roundup

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ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

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