Fintech
Fintech
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Housing will still be a priority of the Consumer Financial Protection Bureau, but newly confirmed Director Rohit Chopra is also expected to investigate discrimination in the Paycheck Protection Program and bias in AI-powered lending algorithms.
October 4 -
Online lenders are a fast-growing sector of the financial system that hardly existed when the Consumer Financial Protection Bureau was created. The bureau should hold fintech lenders to the same standards as banks to eliminate a blind spot in supervision.
October 4 -
The U.K. challenger bank rescinded its application to become a U.S. bank after pandemic-driven losses.
October 4 -
The tech company has abandoned plans to offer checking accounts in partnership with banks and will instead focus on being a technology provider for them. Citigroup says it will press ahead with aspects of the digital banking project on its own.
October 1 -
Neobanks and Fintechs have raised the bar in terms of client experience and expectations, forcing incumbents to break free and innovate. Now they are coming after the next generation, launching next-gen youth-focused offerings. Europe is leading this charge with nearly half of the startups based in the region. With the increased popularity and competition how are these neobanks finding different ways to market and monetize? In this session hear from Taylor Burton, co-founder of Till Financial on why there is a race to capture the next generation and how Fintechs like Till Financial is turning is a popular trend into a profitable business.
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Rather than targeting the masses, the founders of these neobanks are narrowing their focus to serve people who may benefit from specialized products and services. The latest example: Nerve, a banking app for musicians.
September 29 -
Traditional financial institutions face pressure to imitate fintechs that have brought many consumers into the mainstream. Yet cash must be a key part of efforts to expand access, since it's still crucial for many low-income families, the elderly, migrants and others.
September 29 -
Small merchants will be able to send customers directly to online stores from videos, advertisements or shopping sites using a new product created by the two companies.
September 29 -
The Consumer Financial Protection Bureau may investigate cryptocurrency providers for mistreating customers, but the agency’s supposed interest in the burgeoning sector is reviving a debate about the CFPB’s authority.
September 27 -
Companies like Ally are mimicking the approach of fintechs by curbing overdraft charges and instituting other changes. It is a sign that startups’ efforts to improve customer experience were successful and that competition in digital-first banking will intensify.
September 24 -
At a House Financial Services Committee hearing, lawmakers on both sides of the aisle questioned the widespread practice of screen scraping and agreed that consumers should have a more direct say over how their financial data is handled.
September 21 -
The company's new app bundles banking services such as payments, buy now/pay later and direct deposit. But the company plans to add features that could include stock trading, a popular offering from tech startups.
September 21 -
JPMorgan Chase bought the college financial-planning platform Frank, the latest in a string of acquisitions the largest U.S. bank has made this year to compete with both big technology firms and fintech upstarts.
September 21 -
The companies each recently rolled out new contactless checkout technology as they attempt to turn Amazon Prime and Square Cash into platforms that let consumers pay for goods, save money, take out loans at the point of sale and conduct other financial services all in one place.
September 20 -
Vendors including Akoya, Plaid and MX are trying to help banks manage and view their application programming interfaces through data portals as an alternative to scraping consumers’ login credentials.
September 20 -
More than a third of installment borrowers are delinquent, according to new research. Fintechs and the banks that are following them into the market are willing to tolerate the credit risk — for now — because of BNPL’s rapid growth and the fee income from merchants.
September 17 -
Already in 2021, the nation's largest bank by assets has purchased more than 30 companies, including both fintechs and firms that are more removed from the financial industry. Here's a look at eight of those deals and the thinking behind them.
September 17 -
A long to-do list — from developing mortgage servicing requirements to revisiting payday lending rules — awaits Rohit Chopra, the administration’s choice to lead the consumer bureau. But it's still anyone's guess when the Senate will confirm him.
September 16 -
Executives at JPMorgan Chase, Capital One and U.S. Bancorp all spoke this week about plans to take on upstarts that offer interest-free financing on consumer purchases. The increased competition figures to result in tighter margins across the category.
September 16 -
The Cincinnati bank, which last month closed its purchase of the health care lender Provide, has raised its estimate for the unit’s 2021 loan volume.
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