Fintech
Fintech
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Sixteen bank members of the Alloy Labs Alliance have come up with a set of rules for banking as a service, and who is responsible for what.
October 19 -
Since 1982, the Small Business Administration's 7(a) program has been restricted almost entirely to banks and credit unions. A proposed rule would open it to fintech lenders.
October 18 -
Stephanie Ferris will take the helm from current CEO Gary Norcross on Jan. 1, as he transitions to executive chairman of the board.
October 18 -
The prepaid card and digital banking company promoted its chief financial and operating officer, George Gresham, to chief executive.
October 17 -
Greenlight introduced a new tier on Wednesday for app users that recognizes vehicle crashes, enables instant emergency alerts and more.
October 12 -
House Financial Services Committee ranking member Patrick McHenry, R-N.C., is poised to be a leading critic of the administration's regulatory policies in the next Congress.
October 11 -
The sponsor bank, which works with fintechs like Chime and PayPal, says the switch will help it support its payments clients as they move into lending.
October 10 -
The industry must adapt quickly to the changing preferences of entrepreneurs and the innovation of nonbanks such as PayPal and Square, according to speakers at American Banker's Small Biz Banking Conference. Traditional players such as U.S. Bancorp and Comerica say they're making the necessary investments.
October 5 -
A new report from American Banker's parent company finds that traditional banks are vulnerable to competition from online banks and fintechs such as PayPal and Square. It recommends that banks build deeper relationships with small-business owners by adding more products to their traditional suite of offerings.
October 2 -
The challenger banks Mercury and Nerve are offering networking events, tailored accounts, credit cards and more to attract a once neglected market.
September 30 - AB - Technology
The Consumer Financial Protection Bureau has accused the challenger bank, which charges customers a monthly membership fee, of violating the Military Lending Act and other consumer protection laws. MoneyLion says the allegations are baseless, but some analysts said the consumer bureau appears to have strong claims.
September 30 -
The claim that these arrangements are unregulated is inaccurate, and instead, more oversight would destroy the benefits of banks working with fintechs on consumer products.
September 29 -
The online lender approved Black applicants at lower rates than non-Hispanic whites, according to a law firm that monitors its artificial intelligence models. Upstart said it's an industry leader in fair lending but acknowledged room for improvement, calling disparities "an industry-wide challenge."
September 26 -
Onuu uses artificial intelligence to help its customers with budgeting.
September 23 -
Mechanics Bank in Walnut Creek, California, has signed up to be Inclined's first partner.
September 23 -
The company hopes its new technology infrastructure will help it scale and quickly roll out new products.
September 21 - AB - Technology
The founding CEO of PayPal and former CEO of Intuit plans to launch Nirvana Money next month. It will combine basic banking with an alternative to a secured card that evolves into a normal credit card.
September 20 -
The additional data that will become available as the economy slows should reveal the true strength of the technology companies some banks are working with and that should inform whether more regulation is required.
September 20 -
The Delaware bank, which is also seeking to move its headquarters to South Dakota, says a national charter will allow it to more easily expand across the country as it builds on its banking-as-a-service business model.
September 19 -
A new group called MoreThanFair aims to establish the lines between fair and unfair lending, to set best practices for the use of AI in lending and to lessen the stigma of fintech lenders.
September 19






















