The Consumer Financial Protection Bureau sued LendUp in September, alleging that the digital payday lender consistently misled customers about the benefits repeatedly using its loan products.
Credit unions are looking for approval to hold digital assets like Bitcoin directly, after a federal regulator clarified they can provide cryptocurrency services to customers by partnering with third parties.
Cross-border FinTech platform Taptap Send raised $65 million in a Series B funding round led by Spark Capital, bringing its overall funding to $80 million.
VC levels for proptech funding returned to pre-pandemic levels with investments shifting from early-stage to mid and late-stage companies.
"Getting rid of overdraft solves part of the problem, but it also can hurt customers who are relying on those funds to get by, even though it's a very expensive credit," said the fintech's top executive, Jason Wilk.
“Companies are increasingly adopting new technologies to provide workers with fast access to earned wages instead of following the traditional two-week pay cycle. While the earned wage access (EWA) trend first took off in the gig space, we think EWA will soon revolutionize the entire payroll space.
Walia sees plenty of activity in BNPL, beginning with brands partnering with banks to introduce their BNPL capability.
Andy Obando of Kushki explains that COVID-19, high smartphone penetration and the emergence of neobanks are driving adoption of online commerce in Latin America.
Latin American buy now, pay later (BNPL) company Addi has generated $200 million of debt and equity, pushing its valuation to more than $700 million.
Credix raises $2.5 million to build an enterprise-grade DeFi credit marketplace in Latin America. Read on LABS