Online lender Social Finance Inc. is laying off dozens of employees in its mortgage division, an area the company previously highlighted for its growth prospects, according to people familiar with the matter.
Social Finance is acquiring digital-banking startup Zenbanx for nearly $100 million, as the online lender seeks to accelerate its expansion into more pockets of consumer finance.
Customers of online lender Social Finance Inc. are missing their loan payments at an unexpectedly high rate, a misstep for a company that has boasted that its focus on high-earning individuals would yield better borrowers.
Social Finance Inc., or SoFi, has used a different strategy to leap to the top of the nascent business of online lending.
Social Finance Inc., the hot online lender known as SoFi, has launched an internal investigation into claims of sexual harassment at the San Francisco company. In a post on the company blog, co-founder and Chief Executive Mike Cagne...