Tagged: peer to peer

Solicitor General’s Office Slaps Down Second Circuit Madden Holding as Erroneous

Midland vs Madden Supreme Court 2

After being invited to file a brief to the Supreme Court, the Solicitor General’s Office filed a brief this past Tuesday, May 24, 2016 and weighed in on the Madden v. Midland Funding, LLC case. Or rather, by weighing in I mean they blatantly shot… Read More

Peer to Peer Lender TWINO Celebrates One Year Anniversary

jevgenijs-kazanins

Latvia-based Twino is celebrating its one year anniversary.  After 12 months of operation, the peer to peer lending platform states it has originated over €22 million in loans.  Twino says their rapid growth makes them the “fastest growing platform in Europe.  Investors have earned approximately €325,000 in… Read More

Proplend Drops Investment Minimum to £1000

Proplend

Commercial property lender Proplend has reduced their required minimum investment from £5000 to £1000.  The move is expected to broaden their investor base while making it easier for existing investors to create a more diversified portfolio of loans.  Going forward, all new loans will be… Read More

TrustBuddy Update: Trustee Secures SEK 50 Million. No Embezzlement Uncovered

Trustbuddy Best Yet

TrustBuddy, a peer to peer lending platform that spectacularly collapsed into bankruptcy last year, has been in the hands of bankruptcy trustees since its demise.  The entire saga became a cautionary note on the emerging online lending industry. Trustbuddy, a publicly traded entity, entered a… Read More

ArchOver & GapCap Sign Agreement to Share Future Business Opportunities

Angus Dent

ArchOver and GapCap have formed a strategic agreement where the two platforms will share future business opportunities. While not a merger, the Service Level Agreement (SLA) appears to be a step in that direction.  Both ArchOver and GapCap provide financing secured by receivables. ArchOver is a… Read More

Deloitte Report Asks if Marketplace Lending is a “Temporary Phenomena”

The Future of Banking

Global consulting firm Deloitte has thrown some serious shade at the online lending industry. In a report entitled; “Marketplace Lending – A Temporary Phenomena?”, the firm makes the statement that traditional finance need not worry about the fast growing marketplace lending industry; “Our findings suggest… Read More

LendingRobot CEO Emmanuel Marot Shares Views on P2P/Marketplace Lending Industry

LendingRobot Featured

  Co-founded by CEO Emmanuel Marot, LendingRobot is a Fintech company that provides powerful tools for the smaller investor interested in investing in Lending Club, Prosper and Funding Circle loans. Peer to peer lending has morphed into marketplace lending as institutional money poured in. Meanwhile LendingRobot… Read More

Lendit Founders Applaud Swift Action by Lending Club Board

Renaud Laplanche LenditUSA 2016 2

The shock waves are still being felt around the global marketplace lending industry following the removal of Lending Club CEO and co-founder Renaud Laplanche. Lending Club has been the marquee sponsor of industry gathering Lendit in past years. The most recent gathering in San Francisco… Read More

Assetz Capital Adds 30 Day Access Account to List of Investment Options

Stuart Law

Assetz Capital has launched a “30-day access account” or 30DAA to their list of options for investors. According to the online lender, the 30-day account follows on the heels of success of their Quick Access Account (QAA).  Assetz Capital has pushed forward with providing more… Read More

Lending Club CEO Renaud Laplanche Resigns following Internal Review of Loans to Single Investor

renaud laplanche

Lending Club (NYSE:LC) founder and CEO Renaud Laplanche has submitted his resignation to the board of directors following an internal review of a sale of loans to a single investor. According to the company, $22 million in loans were sold to a single investor against “express… Read More

G&C Mutual Bank & Maritime, Mining and Power Credit Union Invest in SocietyOne

societyone-co-founders

Australian peer to peer lending platform SocietyOne has completed another funding round that was revealed last month. This time SocietyOne raised $25 million in equity capital from traditional financial firms G&C Mutual Bank and the Maritime, Mining and Power Credit Union. The transaction was reported… Read More

Moody’s Calls Class Action Lawsuit Against Lending Club a Negative for Entire Sector

Rating’s agency Moody’s has published a report that is critical of the marketplace lending sector. Pointing to the class action lawsuit filed in a US District Court against Lending Club (NYSE:LC) on April 6th, Moody’s states that owners of Asset-Backed Loans (ABS) face legal challenges… Read More

Dear Jack Lew: Please Do Not Dampen Marketplace Lending Innovation

Members of Congress Letter to Jack Lew Sketch

  This past Tuesday (May 3rd), twenty members of Congress joined to ask the Secretary of the Treasury, Jack Lew, to tread lightly when it came to the emerging marketplace lending industry. The timing of bi-partisan missive is important as Treasury has announced it will… Read More

RateSetter Adds Chief Risk Officer to Management Team

Cyrille Sallé de Chou

RateSetter has appointed Cyrille Sallé de Chou as its new Chief Risk Officer. Chou will be migrating over from Lloyds Banking Group where has been the Credit Risk Director of Mortgages. In that role, he was said to have overseen one of the largest loan… Read More

Department of Treasury to Release Report on Marketplace Lending

US Department of Treasury

The US Department of Treasury has announced its intent to release a white paper next week pertaining to their review of the marketplace lending industry (orginally labeled peer to peer lending). The document is expected to encapsulate the many comment letters submitted to Treasury following… Read More

PwC Report: Today’s Marketplace Lending is Very Different from P2P Days

Marketplace Lending peer to peer

Global consulting firm PwC has published a report on the marketplace lending industry.  The timing is good as the industry is being buffeted by the broader challenge of a stumbling economy. The document aptly starts by noting the marketplace lending sector is oh, so much… Read More

Reserve Bank of India Consultation Paper on Peer to Peer Lending (Document)

India Money

Embedded below is the consultation paper crafted by the Reserve Bank of India (RBI) in anticipation of creating a regulatory regime for peer to peer lending.  The document sets out to review the various legal frameworks in place around the world for peer to peer… Read More