Tagged: sofi

September 14, 2017 @ 11:36 pm By JD Alois  |  

SoFi has published a public letter addressing the allegations leveled by NYT.com earlier this week. While avoiding the accusations of an environment of rampant sexual harassment, the letter tackles the operational questions the report said existed at the online lender. The NYT report was not… Read More

September 13, 2017 @ 8:43 pm By JD Alois  |  

Additional details have been reported surrounding the planned departure of one of the most prominent Fintech CEOs in the world. NYT.com has published a report on the “Frat House” like environment that existed at SoFi with CEO Mike Cagney reportedly being a prime offender. The… Read More

September 12, 2017 @ 4:15 pm By JD Alois  |  

SoFi co-founder and CEO Mike Cagney has announced he will resign from SoFi at the end of this year. In a message to SoFi employees last night, Cagney said it was with “heavy heart” he will depart the iconic firm he founded. The announcement comes… Read More

September 7, 2017 @ 11:18 am By JD Alois  |  

SoFi CEO Mike Cagney has decided not to participate in the Goldman Fintech event taking place this week in Manhattan, according to a report by Bloomberg. The report attributed the schedule change to the ongoing litigation that is challenging the Fintech platform. SoFi Spokesperson Jim… Read More

September 1, 2017 @ 11:38 am By Samantha Hurst  |  

Online lender SoFi announced this week its program, SoFi Accelerate, will be heading to Chicago later this month. According to the lending platform, SoFi Accelerator is the first-of-its-kind career incubator that gives “ambitious” professionals the time and space to think big – and the tools… Read More

August 29, 2017 @ 7:16 am By Samantha Hurst  |  

On Monday, online lender SoFi announced its members have cumulatively paid off over $5 billion dollars in credit card debt using its SoFi Personal Loans and getting them out of debt faster with lower interest rates. According to SoFi, members who used SoFi Personal Loans to… Read More

August 28, 2017 @ 3:21 pm By JD Alois  |  

Congresswoman Maxine Waters, the ranking Democrat on the powerful House Financial Services Committee, published a letter last week directed toward thes Chairman of the Federal Deposit Insurance Corporation (FDIC). Representative Waters asked the Chairman to hold at least one public hearing on the application by… Read More

July 24, 2017 @ 4:03 pm By Samantha Hurst  |  

Michael Tannenbaum, the chief revenue officer of online lending platform SoFi, has reportedly stepped down from his position. According to TechCrunch, Tannenbaum has been at SoFi since 2014, when he started off as vice president of finance before moving on to become the lending platform’s chief revenue… Read More

July 24, 2017 @ 1:46 pm By JD Alois  |  

Last week, the Independent Community Bankers of America  (ICBA) sent a letter to the attention of Kathy Moe, Regional Director of the FDIC in San Francisco. The subject of the letter was the ICBA’s vehement opposition to Fintech darling SoFi’s effort to become a licensed… Read More

July 7, 2017 @ 3:05 pm By JD Alois  |  

SoFi has announced the closure of Zenbanx, a digital only bank just acquired at the beginning of 2017 for an undisclosed sum. In a notice posted on the Zenbanx website, the company explained it had decided to close all US bank accounts effective August 31st:… Read More

July 7, 2017 @ 1:27 pm By Samantha Hurst  |  

Online lending platform SoFi announced this week it has teamed up with Alaska Air to help its new members save money on student loans while also earning extra summer travel points. The online lender revealed the exciting news through its Twitter on Thursday: We’ve partnered… Read More

June 20, 2017 @ 3:37 pm By JD Alois  |  

The  Independent Community Bankers of America (ICBA), a lobbying group representing small banks, wants to put the Kibosh on SoFi offering banking services in the US. As was recently reported, SoFi has applied for a Charter as it seeks to broaden its services to a far wider audience…. Read More

June 13, 2017 @ 3:29 pm By JD Alois  |  

SoFi has officially filed with the Federal Deposit Insurance Corporation to create a state chartered bank. The filing is not unexpected as SoFi revealed its intent to pursue a banking charter this past May. In early 2017, SoFi acquired Zenbanx, a Delaware-based firm providing multi-currency mobile… Read More

June 12, 2017 @ 7:49 am By Samantha Hurst  |  

Online lending platform SoFi recently announced it has formed a partnership with airline company JetBlue to help customers manage their student loans while also earning travel rewards. The companies claimed this is the first partnership between a direct lender for student loans and an airliner…. Read More

May 21, 2017 @ 5:58 pm By JD Alois  |  

The SoftBank Vision Fund announced its first major close yesterday with over U.S. $93 billion of committed capital. In addition to SoftBank Group Corp (SBG) and the Public Investment Fund of the Kingdom of Saudi Arabia as previously announced, investors also include the Mubadala Investment… Read More

May 17, 2017 @ 1:23 pm By JD Alois  |  

As expected, SoFi has announced wide availability of SoFi Wealth. The financial advisory platform is described as a low-cost online wealth management platform that combines an online and mobile interface with unlimited access to live, licensed financial advisors. SoFi, an iconoclastic Fintech Unicorn, is combining… Read More

May 15, 2017 @ 12:51 pm By JD Alois  |  

SoFi Chief Operating Officer Joanne Bradford was back visiting with CNBC today. Bradford addressed several topics including the recent cyber attack that has public and private entities running for cover around the world. SoFi has not been impacted by the digital attack and Bradford was… Read More

May 11, 2017 @ 6:28 am By JD Alois  |  

SoFi has decided to become a bank. The Fintech firm that has spent so much time telling the world they were not a bank has decided to join the ranks of their erstwhile adversaries and apply for a bank charter. If you can’t beat-em, join-em…. Read More

May 10, 2017 @ 4:52 pm By Samantha Hurst  |  

Kroll Bond Rating Agency (KBRA) announced on Tuesday it has assigned preliminary ratings to one class of notes issued by SoFi Consumer Loan Program 2017-3 LLC (“SCLP 2017-3”). According to the firm,  this was a $530 million consumer loan ABS transaction that is closing on… Read More

May 8, 2017 @ 10:19 am By Samantha Hurst  |  

Reporting and analytics fintech platform dv01 announced on Monday it has formed a reporting partnership with peer-to-peer lending platform SoFi. According to dv01, this new partnership will allow institutional investors, who use dv01 to conduct analysis on consumer loans and bonds, access to all SoFi securitizations,… Read More