- Kabbage Announces Partnership With TaxSlayer to Offer Small Businesses Access to Lines of Credit Up to $250,000
- Personal Capital Launches Socially Responsible Investing
- Autobooks Raises $10M in Series A1 Funding Round
- Ratesetter launches IFISA offer
- Former Keller Williams CEO Chris Heller joins loanDepot brand family as CEO of mello Home
- Lenders to allow Airbnb income on mortgage forms
- SharesPost Launches Unit Focused On Initial Coin Offerings; Hedge Fund Executive John Wu To Lead Group
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According to the WSJ, Goldman Sachs is in talks to offer financing on Apple products; this would be alternative to a consumer financing devices on a credit card; both companies didn’t comment on the story, but if a deal came together it could propel Goldman’s Marcus further into consumer finance. Source
Steve Strongin believes most digital currencies are unlikely to survive in their current form and that investors should be prepared for coins to lose all of their value; Strongin states that they are likely to be replaced by a small set of future competitors; he cites the high correlation of cryptocurrencies, the lack of intrinsic value and speed as reasons for concern; Strongin still is optimistic on blockchain technology. Source
According to a 2018 identity fraud study, victims increased 8% to 16.7 million US consumers in 2017; this is a record since Javelin Strategy & Research began tracking data in 2003; as chips in cards have become more prevalent, fraud has continued to move online; the research highlighted the increase in intermediary accounts being created by fraudsters which could include PayPal and Amazon accounts; article shares further data on trends in identity fraud. Source
In this guest post Tobias Briegel explores the intersection of blockchain technology and real estate. Source
- Ohpen Raises $31 Million to Support Global Expansion
- Trunomi Closes $3.5 Million Round from CloudScale Capital
- Renaud Laplanche Joins LendItFintech USA 2018 As Keynote Speaker
- LendingTree Personal Loan Offers Report – January 2018
- Movement Mortgage Implements CompenSafe to Automate LO Compensation
- Senmiao Technologies Proposes Terms For $14 Million U.S. IPO
- Winklevoss Brothers on Bitcoin Price, Cryptocurrency Regulation (Video)
[Disclaimer: I am not an accountant nor am I qualified to provide tax advice. You should seek professional advice before...
State regulators are planning to offer a licensing process for money-service businesses which will include fintech firms; this will allow business to operate across multiple states; the initial pilot will be offered in seven states; Charlie Clark, agency deputy director and director of consumer services at the Washington Department of Financial Institutions stated, “This is something that we can do to create licensing efficiencies with these companies, hopefully help get them off the ground and it doesn’t sacrifice consumer protection.” Source
There are differing beliefs on payday loans and how far regulation should go to protect consumers; to better answer the effects of payday lending on consumers many people turn to research; results of a study done in 2014 are now in doubt after a watchdog group found that $30,000 of grant funding came from a payday-industry-backed organization; since these types of studies help shape policy it has brought into question how deep these types of studies should be evaluated. Source
According to new data bank branches in the US decreased by 1,700 over the last 12 months; this is the biggest decline on record; closings are concentrated in big cities and surrounding suburbs and is attributed to less foot traffic; other closures occurring in rural areas are due to some regional lenders leaving the area; the decrease in regional bank branches is something that has accelerated more recently compared to big banks beginning to close branches years ago; Capital One, SunTrust and Regions have closed 32%, 22% and 12% of their branches respectively from mid-2012 to mid-2017. Source