Post Tagged with: "marketplace loans"

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CFPB Begins Fielding Marketplace Lending Complaints

by March 7, 2016 at 6:01 pm 4 comments

Today, the Consumer Financial Protection Bureau began accepting complaints regarding online marketplace lending. While no official regulations have yet been placed on online marketplace lending or investors, many industry watchers suspect this move is a prelude to the introduction of formal regulation in the online marketplace lending sector. Complaints received byRead More

Nearly a Third of Lending Club Borrowers’ Income Is ‘Not Verified’

Nearly a Third of Lending Club Borrowers’ Income Is ‘Not Verified’

by February 2, 2016 at 11:55 am 0 comments

Lending Club Corp. seems to be facilitating many loans that do not include income verification. According to a Bank Innovation analysis, nearly a third of Lending Club’s loans outstanding during the first nine months of 2015 are classified as “Not Verified.” That amounts to nearly 82,000 loans. Another 43% of Lending ClubRead More

Online Lenders Kabbage and Funding Circle Head to Europe

Online Lenders Kabbage and Funding Circle Head to Europe

by October 22, 2015 at 11:52 am 0 comments

Funding Circle and Kabbage, both alternative lenders for small businesses, are heading across the pond. Marketplace lender Funding Circle, which began in the U.K. in 2010 before moving to the U.S. in 2013, is expanding to continental Europe with the acquisition of Berlin-based Zencap, announced Oct. 20. This fits Funding Circle’s growth strategyRead More