RateSetter has announced new terms for its lenders which will go into effect on March 1; the new terms provide increased transparency for lending activities; they also give greater flexibility to the Provision Fund through a new stabilization period; changes made to the lender terms since October 2015 can be found here. Source
News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.
Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.
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One of the most innovative banks in Europe is now partnering with Airbnb to allow residential mortgage customers to rent their properties; Metro Bank will allow customers to rent their homes for up to 90 days without any written approval; Paul Riseborough, chief commercial officer at Metro Bank explained, "Our focus is on making our customers' lives as straightforward and convenient as possible and we therefore hope today's news will give our customers the reassurance they need to jump in and take advantage of everything the dynamic sharing economy has to offer." Source
Leaders at the Federal Reserve, the OCC and the CFPB spoke at the Consumer Bankers Association annual conference about the need to be more flexible when applying oversight to bank & fintech partnerships; “We need to do a better job of educating our supervision staff, in some cases, in terms of interpretation of the guidance,” said Dan Quan, who leads the CFPB’s Project Catalyst, as reported by American Banker; they also talked about better coordination to ensure consistency in oversight. Source.
Digital wealth fintech Wealthfront is taking another step towards becoming a bank...
This week’s PeerIQ Industry Update covers earnings reports from Citi, JPM and Wells Fargo, a review of Lendit Fintech USA 2018 and the latest version of the PeerIQ Valuation Report. Source.
Patrolling the high seas with fintech Fraud Prevention Co IDology Bought By...
FTX continued to dominate the headlines for another week as their downfall reverberates around the crypto world
American Express Ventures and the Healthcare of Ontario Pension Plan along with...
It was Groundhog Day at the SEC this week as once again they rejected a bitcoin ETF. Venmo is coming to Amazon checkouts, Robinhood had a data breach and the fintech earnings season hit its peak this week.
Lend Academy interviews Misha Esipov, the CEO and co-founder of Nova Credit; Nova Credit was the winner of PitchIt @ LendIt USA 2017; the company has created the first ever international credit bureau primarily focused on immigrants. Source