Under the deal, participating members of the BancAlliance network will be able to buy interests in loans originated on the digital lender’s platform.

The state of Connecticut recently handed the small-dollar marketplace loan provider a cease-and-desist order, but Rodney Williams says his company is getting much-needed emergency funds into marginalized communities at a low total cost, and that the rules need to be rewritten.

The startup, whose name suggests its purpose of helping companies attract and retain employees, lets companies offer cash incentives to talented recruits that are vested over several years, motivating them to stay in their jobs for a while.

Sen. Cynthia Lummis, R-Wyo., says she and Sen. Gillibrand, D-N.Y., plan to release draft legislation next week that would establish a supervisory entity for emerging financial technologies and new rules for stablecoin issuers.

Q2 Holdings, a banking-software provider, is weighing options including a sale after receiving takeover interest, according to people familiar with the matter. 

NatWest Group is considering launching a separate digital lender for small businesses in the U.K. to find a new avenue of growth for the bank.

Grain Technologies guarantees to cover fraud costs for the banks it works with. One of those partners, the $1.65 billion-asset Ponce Financial, recently disclosed just how high that figure has reached.

The state banking commissioner criticized the online peer-to-peer lender's tipping policies, failure to disclose tips and lack of lending and collections licenses in the state.

In order to align financial policy with the interests of consumers, the agency should consider why these services have caught on — and remember to keep a lane open for innovation.

The CEOs of both Upstart and Oportun said this week that while they will maintain their existing interest rate limits, some higher-risk customers will no longer qualify for their loans as borrowing costs rise.