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Online Lender SoFi Hires Former Wells Fargo Consumer Risk Chief

By Vy Phan

August 24, 2016

Bloomberg by Matt Scully (August 24, 2016) Social Finance Inc., an online lender branching out from its original focus on student loans, has hired a nearly two-decade veteran of Wells Fargo & Co. as its new chief risk officer. Kevin Moss has joined SoFi, a representative for the company said, after retiring last year from Wells Fargo, where he was chief risk officer for the bank’s consumer lending business, according to his LinkedIn profile. SoFi’s co-founder and chief executive officer, Mike Cagney, is a former Wells Fargo employee himself. He has said that his goal is to revolutionize the banking system, and that he intends to “kill banks.” The company has started making personal loans and mortgages, and is considering offering wealth management services, deposit accounts, and insurance, Cagney told Business Insider in December. To contact the reporter on this story: Matt Scully in New York at To contact the editors responsible for this story: Nabila Ahmed at