Lending

For five years, U.S. consumers have been undergoing a massive debt reduction: Paying off credit cards, paring back spending and building up funds for a rainy day. Investors, though, have been looking to see whether Wall Street banks are lending for a positive sign that the economic recovery is picking up steam. Last week, investors …

In the last decade, peer-to-peer lenders—online platforms that connect credit-seeking consumers directly to potential lenders—have helped customers borrow to refinance student loans, pay off credit card debt and build their small businesses. Now, one lender wants to disrupt the market for mortgage originations, long dominated by big banks. San Francisco-based lender SoFi (short for “Social …