Market lending news summary – February 22, 2020

During the week, I share the latest news on Market Lending and FinTech on Twitter as it happens. Then every Saturday I take the most interesting news and blog posts from the past week and share them here.

Jelena McWilliams, President of the FDIC by Barefoot Innovation Group – Probably my favorite episode of JoAnn Barefoot’s excellent podcast. Jelena McWilliams, President of the FDIC Gov, has a vision to transform not only the way banks are supervised, but also the way regulators like the FDIC can encourage innovation.

Exclusive: Starling Bank mortgage booklet with Zopa agreement by Altfi – In the UK, Starling Bank is now investing in Zopa loans. It’s good to see innovative fintech companies working together.

Who wants a Marcus checking account? Lots of people according to a survey by Forbes – According to a recent survey by Cornerstone Advisors, Goldman’s digital consumer bank Marcus will become the 5th largest bank in the United States once it starts offering a checking account. Another great Ron Shevlin play in Forbes.

N26 customers feel ‘betrayed’ by German digital bank’s decision to leave the UK by CNBC – Digital bank N26’s decision to exit the UK market has caused “disappointment” and “outrage” among its many users, with some accusing the company of not being completely forthright about its decision to leave.

German savers turn the Baltic states into a FinTech vanguard by Bloomberg – One of the success stories under the radar of European fintech is Mintos. The Latvian P2P lending platform has become a phenomenon with 40% of the market in the European Union.

Payday loan interest rate caps lead to more debt and defaults by The Economist – Interesting study on the impact of interest rate caps on consumer behavior. Sometimes well-intentioned initiatives have unintended consequences.

Why LendingClub’s Acquisition of Radius Bank is a Good Deal by Forbes – Ron Shevlin gives his take on the LendingClub deal and why the company decided to acquire not just any bank, but rather a leader in digital banking.

What LendingClub and Radius saw in each other by American Banker – More analysis, this one by Penny Crosman, with comments from LendingClub Chairman Steve Allocca and Radius Bank CEO Mike Butler.

Fifth Third Partners With Online Lender To Offer Small Business Loans by American Banker – Fifth Third Partners With Fundation To Use Their White Label Small Business Lending Service.

Top 100 Fintech influencers by Onalytica – Onalytica analyzed over 5 million social media posts to discover the 100 most influential people leading the fintech discussion. I am honored to be on this list at # 8.

Troy M. Hoffman