The Daily Dig for Friday, August 21

Lending Club subsidiary settles with CFPB

Springstone Financial agreed to pay $700,000 to the Consumer Financial Protection Bureau related to possible borrower confusion over a deferred interest product. Eddie Staley reports.

Big banks love Avant

Online lender Avant has raised additional debt financing from J.P. Morgan and others. Leena Rao reports.

SoFi hits $4B valuation

With an additional $1 billion from investors, SoFi is now valued at $4 billion, a number that would place it in the top-30 U.S. banks by market capitalization, according to a report in the Wall Street Journal.

Marketplace lenders will save financial services

SoFi CEO Mike Cagney responds to recent criticism of the marketplace lending model. Read his response here.

Where do the Democrat candidates stand on student debt?

Credible’s Stephen Dash looks at what the declared Democrats say about student loans. Learn more here.

Laplanche shows faith with stock purchase

Lending Club’s CEO has purchased more than $600,000 of the company’s stock. Read more here.

P2P a solution for both SME’s and countries in need

Despite their clear importance in the economic success of most countries, SME’s are having trouble securing financing. Peer-to-peer lending is an important solution, writes Craig Moore.

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