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You Still Want a Fintech Revolution?
www.bloomberg.com

Remember the “fintech revolution” that was going to reshape the banking industry? Well, don’t go hoisting any new flags over the castle just yet.

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Prosper Marketplace Faces Big Cuts
www.pymnts.com

Prosper is cutting staff and shuffling execs as it tries to adapt to a market harder for online lenders.

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OnDeck’s Tumble: Can Online Lenders Handle a Downturn?
www.wsj.com

OnDeck shares fell sharply after the company had difficulty selling loans to investors in the first quarter.

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Payday Lending: How Does a Legal Sharking Look Like in 2016?
letstalkpayments.com

This article contains insights on the exploitative nature of payday lending industry and negative outcomes for the customers.

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1,000% loans? Millions of borrowers face crushing costs.
www.cbsnews.com

Across the U.S., payday lenders charge unwitting customers three-digit interest rates — or higher — and bury them in debt.

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Nice fintech startup you got there, it would be a shame if someone sued it
ftalphaville.ft.com

As bank settlements go, last week’s $2.5m payout from online lender SoFi is pretty small.

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It’s a hard knock deposit-less life for online lenders
ftalphaville.ft.com

Consider this headline from the New York Times last year: Goldman Sachs Plans to Offer Consumer Loans Online, Adopting Start-Ups€™ Tactics. Alongside this one from the Wall Street Journal last week: Prosper Talks With Goldman, Others to Replace Citigroup on Loan Arrangement.

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Making sense of the lending industry’s rapid changes
techcrunch.com

Lending, one of the biggest industries, is currently undergoing a transformation. As it was with the automobile industry transformation …

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