Ratesetter took a minority stake in George Banco in May but now the firm is being acquired; all George Banco loans will be refinanced and RateSetter lenders will be paid in full; RateSetter has GBP30 million ($39.11 million) of outstanding loans with the company; George Banco provides loans to borrowers with poor credit and brings in a third party in case the borrower fails to repay. Source
OnDeck, the small business lender has extended existing credit facilities with Credit Suisse and Deutsche Bank; the amended facilities provide...
While the recent revisions to the tax code were done along party lines, the newly proposed updates to Dodd-Frank have the backing of a bipartisan group of legislators; the bill is looking to target banks in the $50bn to $250bn range who many feel have been disproportionately effected by the 2010 Dodd-Frank law; changing the definition of the banks from systemically important financial institutions or SIFI’s will free up the banks from certain requirements; while their is optimism for a deal that crosses party lines, Congress has a ways to go as they look to get this done later in the month. Source.
The Wall Street Journal took a look at the relationship that’s evolved between JPMorgan Chase CEO Jamie Dimon and Amazon...
Lend Academy talks with Jeffrey Chen, CEO of ZhongAn Insurance; firm has seen great success in insurtech in China, issuing billions of small dollar value insurance policies through the internet; Chen talks about the insurance products offered through the platform, how they have scaled the business, some of the innovative technologies they are using and their goals for the future. Source
The potential strategy behind the payments pioneer's latest move may be more threatening to banking than the actual products.
In an effort to properly regulate, define and use alternative digital currencies and the technology that underpins them, blockchain, New...
Tax firm targets its millions of tax clients for a year-round financial relationship intended to improve financial health.
For the inaugural Fintech Blueprint Open Hours session, Carey Ransom of BankTech Ventures spoke on penetrating bank innovation departments.
Japanese bank Nomura has taken a 22 percent stake in AI startup Aim2 to apply the technology to financial markets;...