Hong Kong authorities are planning to issue digital banking licenses to Tencent,...
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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There are an estimated 800,000 federal workers affected by the partial government...
Capital One is continuing to build on its Capital One Cafe venture by opening new cafés targeting millennials throughout the United States; the bank will be opening new locations in San Francisco, Seattle, Denver, Chicago, Philadelphia, Miami, Austin and Richmond over the next two months; the cafés offer a range of services to the public including free WiFi and coffee; the bank is also using the cafés to market to millennials with digital portals offering online financial advice and space for financial coaching sessions; locations are also staffed with Capital One representatives to offer banking and customer service support. Source
When Prosper introduced Quick Invest in July of this year they discontinued...
Here are the most read news stories from our daily newsletter today:...
The no-action letter shows that the CFPB is open to alternative data being used to expand access to credit data; Upstart will report lending and compliance information to the CFPB to mitigate risk to consumers and aid in the Bureau’s understanding of the real-world impact of alternative data on lending decision making; the no-action letter relates to enforcement of the Equal Credit Opportunity Act and Regulation B; Upstart shares in their application how powerful using data points outside of just credit reports is in reducing borrowing rates. Source
Here are the most read news stories from our daily newsletter today:...
China’s regulators have imposed extra cost and forced some emerging p2p lenders out of business as they look to eliminate problematic and fraudulent companies; Sara Hsu of Forbes sat down with Yihan Fang of Yirendai, and with Johnson Zhang of Hexindai at LendIt Fintech USA 2018 to discuss the current states of p2p lending in China. Source.
VeriComply provides automated loan verification services for the marketplace lending secondary market; the firm has hired former Lending Club executive Roger Dickerson as its new president; Dickerson brings experience in investor operations and marketplace loan securitizations; he will be leading VeriComply's efforts to support marketplace loan sales and securitizations through its automated loan verification services. Source
Its platform focused on funding from fans for internet celebrities on YouTube, Twitch and other live streaming platforms; in August it raised 119.5 ether which is about $47,000; the SEC notified Protostarr of its investigation however a final status has not been reported; the firm says forming a legal department to manage the ICO investigation and potential need for registration is not within its short-term plans and it will refund its ICO investors. Source