Items Tagged with 'Social Finance'


  • 3 top execs bail at SoFi

    Heads of marketing, risk and capital markets to depart within weeks
    Online lender SoFi is losing some of its top brass, as three executives have announced plans to leave the company within weeks. Could the executive shuffle be a sign of trouble lurking beneath the surface as the company navigates a tough environment for online lenders?
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  • SoFi officially taps Twitter exec Anthony Noto to be new CEO

    Replaces Mike Cagney, who stepped down last year amid controversy
    SoFi has found its new leader. The online lender announced Tuesday morning that it selected Twitter Chief Operating Officer Anthony Noto to be the company’s new CEO. Noto replaces Mike Cagney, who abruptly resigned as CEO back in September with the company embroiled in controversy.
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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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  • 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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  • 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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  • Should SoFi be granted a bank charter? Rep. Waters isn't so sure

    FDIC decision pending
    As SoFi waits for a decision on its bank charter application, the request is drumming up a lot of criticism. On top of groups already writing letters in opposition to the move, Rep. Maxine Waters, D-Calif, added her name to the list of people questioning the application. Does this kill SoFi’s chance to ever be a bank?
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