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The Toronto-based loan fintech received an IFE license from Puerto Rico to launch Propel Bank.
As federal watchdogs step back from regulating "Buy Now, Pay Later" loans, state authorities are stepping in. This week, the attorneys general from California and several other blue states joined the fight.
The Troy, Michigan-based lender and servicer faces at least seven lawsuits over a hack in June allegedly perpetrated by a known ransomware gang.
In a relatively mild oversight hearing in the House Financial Services Committee Tuesday morning, regulatory heads at the Federal Reserve, Office of the Comptroller of the Currency, National Credit Union Administration and Federal Deposit Insurance Corp. outlined plans for reduced capital requirements and debanking enforcement.
South Plains Financial agreed to pay $105.1 million in stock to acquire a seven-year-old Houston community bank in its first M&A foray since 2019.
Democratic lawmakers, led by Senate Banking Committee ranking member Elizabeth Warren, D-Mass., press 21 institutions for fee data after a federal agency halted disclosure requirements.