Online lenders and other firms await news from OCC and Treasury on the future of their supervision, even as they absorb the news that Square had to temporarily pull its industry loan company application.
The online small-business lender is enjoying a payoff from its year-old push to cut costs and tighten underwriting standards. It is also set to announce another lending agreement with a major bank this year, its CEO said Tuesday.
The British banking giant has been testing its new online lending platform with a handful of its U.S. customers and plans to roll it out in full force next year. It's all part of a broader effort to expand its U.S. consumer business beyond credit cards.