Items Tagged with 'Mike Carney'


  • Figure Technologies debuts sale lease-back product

    Billed as a reverse mortgage alternative, the Figure Home Advantage targets the Boomer market
    Figure Technologies, led by former SoFi Founder and CEO Mike Cagney, just launched a sale lease-back product to give homeowners another way to access their home equity. The company said the Figure Home Advantage, which it calls an alternative to reverse mortgages, is ideal for those looking to bolster finances in retirement.
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  • Former SoFi CEO Mike Cagney founds new lending startup, pivots to blockchain

    Figure will specialize in home equity lending
    After abruptly resigning from SoFi amid a swirling controversy about the workplace culture at the online lender, Mike Cagney has resurfaced… and he’s pivoting to blockchain. Cagney helped found a new lending startup called Figure, which will apparently be specializing in home equity lending with blockchain technology serving as a key component of the company’s business plan.
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  • SoFi reportedly wants Twitter COO Anthony Noto as its new CEO

    WSJ reports that online lender offered job to former Goldman Sachs banker
    It appears that SoFi thinks that Twitter Chief Operating Officer Anthony Noto is the right person to lead the online lender out of its recent rough patch. SoFi has been on the hunt for a new CEO following Mike Cagney's abrupt resignation back in September amid controversy.
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  • Amid scandal, SoFi bails on becoming a bank

    "Remains an attractive option"
    While the chances were already slim, SoFi announced on Friday that it is pulling its application to open a bank, as it continues to deal with claims over its alleged toxic work environment. However, SoFi hasn’t fully given up on the idea.
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  • Another top SoFi exec will resign following sexual harassment scandal

    Follows the departure of her husband, the CEO
    As the sexual harassment scandal rages on at San Francisco-based lending startup SoFi, yet another executive announced plans to leave the company. The announcement that Chief Technology Officer June Ou will be stepping down follows the sudden departure of the company CEO and her husband, Mike Cagney.
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  • SoFi faces another lawsuit from former employee over sexual harassment allegations

    At least one of three lawsuits against SoFi
    Adding to a growing list of lawsuits against San Francisco-based startup SoFi, a former loan reviewer filed a complaint on Thursday in California state court, claiming she was repeatedly sexually harassed while working there. This latest lawsuit is the at least one of three against the startup, as it is also dealing with claims that it fired a former employee for reporting sexual harassment allegations to his superiors.
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  • Controversial SoFi CEO quits, effective immediately

    Executive Chairman Tom Hutton assumes role of interim CEO
    SoFi CEO Mike Cagney announced early Friday morning that he is stepping down effective immediately as controversy surrounding the company's work culture intensifies. The announcement updates Cagney’s original statement that he planned to step down by the end of the year. Not anymore.
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  • SoFi defends mortgage standards, denies Fast Company allegations

    Claims appraisal-free mortgages never left beta testing
    SoFi stepped up to defend itself amid recent negative news coverage on the company’s alleged toxic workplace environment. Included in one publication’s coverage of the fintech company is a bold claim that “in the first round of SoFi mortgages, some homes lacked appraisals.” SoFi, however, in a response to HousingWire, gave this response to that bold claim.
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  • SoFi CEO Mike Cagney stepping down as company fights sexual harassment claims

    Cagney is also company’s co-founder, plans to step down by end of 2017
    For at least the second time this year, the CEO of a white-hot Silicon Valley startup is stepping down amid controversy. Earlier this year, Uber CEO Travis Kalanick stepped down as the company fought back against months of bad publicity and complaints about the company’s culture. And late Monday, San Francisco-based Social Finance, better known as SoFi, announced that its CEO and co-founder, Mike Cagney, plans to step down by the end of the year.
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