Fintech and cryptocurrency firms competing with banks but subject to fewer regulations are "getting away with murder," said Eugene Ludwig, a former comptroller under the Bill Clinton administration. 

The Los Angeles fintech, which hosts a marketplace where people lend to one another, is moving forward and working to set up a "lending DAO" as it deals with questions about its tipping model.

Officials say the decision to call off the acquisition, first announced in January, was mutual.

The company told consumers they were pre-approved for credit cards. For some such offers, a third of applicants were denied, according to the FTC.

Marcus and Upstart are two companies that got high marks for customer satisfaction from J.D. Power but rely on digital methods to reach and underwrite borrowers.

Zepz Group, the U.K. financial technology startup and parent of the payments company WorldRemit, has named Mark Lenhard as its new chief executive, replacing Breon Corcoran.

Interest-free credit and fast approval make BNPL an attractive payment option for consumers, who are increasingly using short-term installment credit to manage their cash flow when paying for immediate, small-dollar purchases.

The billionaire founder of Paytm emerged unscathed in a crucial test of investor confidence, with a forceful majority of shareholders voting to keep him at the helm of the fintech pioneer that made one of the worst market debuts in Indian history.

Mos, a company that started out helping students find financial aid, is embellishing its banking features with cash advances, gig finding help and financial advice.

Despite facing backlash last year after erroneously closing some customer accounts, the fintech continues to generate buzz.

The Federal Reserve Board's new guidance comes as the central bank is slated to decide whether to grant Custodia, a Cheyenne, Wyo.-based crypto firm, a master account.

Mastercard is facing pushback from retailers over a new product that allows customers to pay off their purchases in installments. 

Digit engaged in deceptive acts or practices by routinely causing checking accounts to overdraft, the Consumer Financial Protection Bureau said.

Direct connectivity between the cross-border payment company and the data aggregator will let Wise's 13 million customers use the 6,000 fintech apps in Plaid's network without the need for a bank account.

Websites such as Credit Karma and LendingTree, which work closely with financial institutions, have had to rethink their strategies to bounce back from the pandemic.

Funding constraints are a "business problem that we need to address," CEO Dave Girouard said. The online consumer lender has seen a significant drop in demand for its loans from banks and investors.

Goldman Sachs Group has extended a $150 million credit line to the Mexican startup Clara, which lends to corporations and helps manage their spending, the latest Latin American fintech to receive support from the New York-based banking giant.

Two laws signed Friday by President Biden extend the statute of limitations for fraud cases involving pandemic-relief programs. One of them would have a particular impact on Paycheck Protection Program loans made by nonbanks.

Consumers should be aware that the FDIC does not protect their money if a fintech goes belly up.