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The former SoFi chief’s latest startup, Figure, has created what it says is a transparent marketplace for buying and selling assets. Some banks have embraced the technology, but other blockchain projects have stalled because lenders don't want rivals to see their data.
August 25
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A group of eight Attorneys General filed suit against an FDIC final rule related to ‘rent-a-bank’ partnerships, mirroring a similar suit filed against the Office of the Comptroller of the Currency last month.
August 20
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American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting.
August 19
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American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting.
August 18 -
Jelena McWilliams's term as FDIC chair expires in 2023, and she cannot be removed by an incoming president. But if Joe Biden prevails, he may ask her to stay — and if she does, governing a Democratic-majority board would be a very different proposition.
August 18
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Theorem is marketing its first-ever securitization of unsecured loans. It uses machine-learning technology to gauge the risk of default, a growing concern during the pandemic recession.
August 11
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The e-commerce site and online lender have teamed up to let eBay sellers borrow up to $25,000.
August 5
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The Conference of State Bank Supervisors, banking law scholars and consumer advocacy organizations filed amicus briefs siding with the New York State Department of Financial Services in its court battle with the federal regulator.
July 31
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The pioneering online lender had long struggled to live up to the hype that drove its early growth, even before the pandemic pushed it to the brink.
July 29
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Similar to a law passed two years ago in California, legislation headed to the New York governor’s desk would require fintech and other nonbank lenders to uniformly disclose total cost of capital, APR and other metrics to potential borrowers.
July 24
