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The digital lender, which bought Radius Bancorp in February, still expects to record a full-year loss partly because of merger-related costs. But its stock price soared Thursday after it reported second-quarter net income of $9.37 million.
July 29
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The regulator's order moves the San Francisco-based company one step closer to becoming the first online lender to own a bank.
December 31
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Fintech lenders that reported a surge in missed payments at the start of the pandemic have seen credit quality rebound substantially since. But credit performance could still deteriorate if high unemployment persists and Congress fails to enact more relief measures.
September 8
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Other challenger banks focused on personal loans have struggled since the onset of the coronavirus pandemic.
June 17
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The online lender, reeling from the economic fallout of the coronavirus pandemic, also said it is cutting senior executives' salaries by 25%.
April 21
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While LendingClub, Prosper, Avant and SoFi are giving existing borrowers breaks in the short term, they're considering tightening credit as the coronavirus outbreak threatens to drag the economy into a recession.
March 26
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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.
February 20
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The deal for Boston-based Radius would be the first in history in which an online lender buys a mainstream bank.
February 18
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Marketplace consumer loan ABS volume is expected to rise in 2020, aided by strong 2019 economic tailwinds benefiting originations as well as favorable federal regulatory proposals that could encourage more securitizations.
December 29
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The company has rolled out an online platform for firms considering marketplace loans as an asset class.
October 10
