According to data from Dealogic, 2019 fintech funding has hit record highs; 87 deals totaling $116.6 billion have been completed...
The Consumer Financial Protection Bureau (CFPB) was established as part of Dodd-Frank reform following the 2008 financial crisis to focus on financial law pertaining to the protection of consumers in the financial marketplace; in 2016 a three-judge D.C. circuit panel declared the CFPB unconstitutional in the PHH vs. CFPB case and gave full director accountability power to the president; an appeal by the CFPB overturned that ruling and called for a rehearing of the case before a broader panel of judges which is set for May 24, 2017; on Friday, March 17 the US Justice Department filed a brief requesting that the federal appeals court restructure the CFPB; the brief appears to be focused on the fact that the CFPB director was setup to have no accountability to the president; in the case of PHH vs. CFPB, lawyers from PHH reported that the CFPB should be dissolved; the Justice Department's brief appears to focus just on the CFPB director's accountability. Source
The U.S. Justice Department is probing Visa Inc's relationships with large fintech companies as part of its antitrust investigation of the card giant, the Wall Street Journal reported on Wednesday.
Antitrust investigators are scrutinizing financial incentives Visa gave to Square, Stripe and PayPal.
Financial institutions must scrutinize marketing, branching and lending strategies as Attorney General targets redlining in mortgage credit.
MoonPay, which allows users to buy cryptocurrencies using conventional payment methods, is adding more than 60 new celebrity investors to its balance sheet.
Juzhen is developing new blockchain technology for banks that will focus on privacy, biometrics and access control; the firm is the largest China-based blockchain startup; it is working with the ChinaLedger blockchain consortium and has a thorough understanding of the Chinese market's infrastructure and banking culture. Source
Kabbage launched a new website called www.helpsmallbusiness.com; the website allows consumers to purchase online gift cards from small businesses; revenue...
After pausing new lending in March Kabbage pivoted to focus on the Paycheck Protection Program and in doing so has...
Kabbage is now accepting applications from small businesses under the Paycheck Protection Program (PPP); Kabbage recently stopped lending on March...