Wells Fargo will be the biggest winner when Lending Club – its friend and foe – goes public.The bank, through its venture capital arm, is the biggest investor in Lending Club, a peer-to-peer lender based in San Francisco.
Borrowers will be able to access their credit scores for free from Tuesday on a new website backed by peer-to-peer lender SocietyOne, putting banks on the backfoot by encouraging high credit quality customers to negotiate lower interest rates on their loans.
Lending Club has filed a $500 million IPO, according to S-1 filings sent to the SEC.
Nick Talwar is “leading Amazonâs global expansion into the lending industry.
In response to strong interest in the potential establishment of a new credit union for rural Scotland, SAOS, with KTP partners Aberdeen University, and support from NFU Scotland and RHASS, is running a survey to investigate alternative finance options for farms and rural businesses.
Apparently feeling some competitive urgency, the dominant peer-to-peer lending company has accelerated its expansion — and reversed its profitability for now.
Lending Club’s IPO filing puts peer-to-peer lending in the spotlight. If you’re thinking about opening your wallet, here’s what you need to know.