The issue of “true lender” has been one that has dogged the marketplace lending industry virtually since its inception. When...
Petal’s new credit card will focus on the 65 million people who lack credit history for a traditional card; they have been working for three years on their product which uses AI to predict a consumer’s creditworthiness; the company raised a $3.6 million seed round last September and followed with a $13 million Series A in January of 2018; the partnership with WebBank will allow Petal to make the card available nationwide which they anticipate will happen over the next few months. Source
Last week a tragedy occurred in San Bernardino, California. Since that time the media have been covering the story from...
Auto lending is a segment that has seen a lot of traction in the last couple of years, but most...
A federal district court in the Southern District of New York has ordered the Bethune v. Lending Club Corporation, et al. case to proceed to arbitration; plaintiffs argue that Lending Club loans were in violation of state usury laws despite their association with WebBank; while the case is still pending, the court has said it will be decided through arbitration due to clauses in place by Lending Club. Source
I receive many emails from readers each week and I read and respond to every one. I thought this email...