The online lender, reeling from the economic fallout of the coronavirus pandemic, also said it is cutting senior executives' salaries by 25%.

Compliance, risk management and staffing will likely come under added scrutiny as regulators lay out a framework for future fintech-bank mergers.

The heads of the two companies explain how the deal came about, what hurdles they face and how they plan to mash up their very different operations.

The deal for Boston-based Radius would be the first in history in which an online lender buys a mainstream bank.

Jason Gardner, founder and CEO of the card issuer Marqeta, discusses his experiences in starting up multiple fintechs and makes predictions for the new year.

PE firms have made investments in only seven banks in 2019, compared with 21 last year. Here's what's driving the slowdown.

The SoFi co-founder said Figure Technologies is working with national banks to employ its distributed ledger tech for loan originations.

Casting aside recession fears, the credit bureau predicts credit cards, mortgages, auto loans and unsecured personal loans should all perform well — including those extended by online lenders.

Federal and state policymakers wagged their fingers this week at high-cost lenders that might be looking to team with banks to evade a 36% ceiling on interest rates.

The online lender said it applied insights from its partnership with Fifth Third Bancorp in developing a new digital platform it’s marketing to other large financial services companies.

Many in the space are seeking the creation of a "flexible" supervisory regime that relies on existing authorities and a hands-off approach from state agencies, but such a plan faces an uphill battle.

It should offer some form of guidance to spur innovation, a former official with the bureau says.

The company has rolled out an online platform for firms considering marketplace loans as an asset class.

Freddie Mac's efforts to improve underwriting could include the use of a technology firm's artificial intelligence-driven consumer-risk modeling software that can expand access to credit, according to the Wall Street Journal.

The mortgage industry has put more emphasis on organizing data in a digital manner and presenting it in an easily digestible format.

Blooma has developed a software product that combs databases to create property profiles for commercial real estate lenders. It can drastically cut origination costs and approval times and help banks identify safer loans, the company says.

The tech-driven asset management firm announced it had closed a $115 million asset-backed securities deal led by Cantor Fitzgerald, with unsecured consumer loans acquired from Prosper Marketplace.

The LendingClubs and SoFis of the world have a big head start, but HSBC's U.S. unit says its partnership with the fintech Avant will help it close the gap in online personal loans.

Seed, a San Francisco startup, has developed a platform that lets small businesses quickly open accounts online. That's an important feature for Cross River as it courts more fintech clients.

Because automated valuation models have not been subjected to a stressed housing market, their increased use holds negatives and positives for residential mortgage-backed securities credit quality, a Moody's report said.