PayPal Co-Founder Steps Down as Yelp Chair

By Colin Wilhelm July 29, 2015, 12:06 p.m. EDT 1 Min Read

Max Levchin, founder and chief executive of point of sale credit startup Affirm and co-founder of PayPal, has resigned from his position as chairman of Yelp's board.

In a tweet from Levchin, who served on the location-based online listing site's board for 11 years, he explained that "Yelp is extremely awesome," but "Affirm is taking nearly all of my time."

"We have mutually agreed this is the right time for him to step down given the demands on his time," said Yelp CEO Jeremy Stoppelman in a July 29 press release. "I am grateful for his contributions to Yelp's success and wish him all the best going forward."

Yelp said in its release that it has not yet named a replacement chair but plans to consider one at its next board meeting in September.

Colin Wilhelm

MORE FROM AMERICAN BANKER

100 Days of Trump Administration

How tariff uncertainty is taking a toll on banks

The potential for a global trade war has largely undone the optimism that the industry exhibited at the beginning of the year. Here's a look at three ways that tariffs could negatively impact banks.

By Allissa Kline

3h ago
Earnings

LendingClub's profits get hit by macroeconomic uncertainty

The online consumer lender beat revenue expectations in the first quarter, but its net income was dragged down by larger provisions that the company attributed to tariff "uncertainty."

By Nathan Place

April 29
Payments

Visa: Spending 'resilient' despite travel slump

The card processor came up short on expected profits but hit analysts' estimates on revenue in the second quarter of its fiscal 2025. CEO Ryan McInerney said growth in payments volume, cross-border volume and processed transactions were strong even in the face of shaky economic conditions.

By Joey Pizzolato

April 29
Risk management

GOP lawmakers mull eliminating 'management' from CAMELS

At a House subcommittee hearing, Republicans proposed "tailoring" regulations for community banks while Democrats railed against Trump's tariffs and cuts to the Consumer Financial Protection Bureau.

By Kate Berry

April 29
Cyber security

How Capital One is eliminating passwords for its employees

The bank's chief technology risk officer details the journey the bank has taken over the last six years, and why it set out to get rid of passwords.

By Carter Pape

April 29
NCUA

Warren, Waters say NCUA lacks quorum to govern

Senate Banking Committee ranking member Elizabeth Warren, D-Mass., and House Financial Services Committee ranking member Maxine Waters, D-Calif., urged the National Credit Union Administration's Inspector general to look into President Trump's removal of two board members.

By Ebrima Santos Sanneh

April 29