While small business lending has been turned upside down this year with...
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.
To join our newsletter community please subscribe here.
In an effort to properly regulate, define and use alternative digital currencies...
Yesterday, a New York federal judge ruled that the New York Department...
The division will focus on corporate compliance and consumer issues and Katherine...
The comment period for the Office of the Comptroller of the Currency's fintech charter proposal closed on January 17 and the New York Department of Financial Services (NY DFS) was among the commenters; the NY DFS opposes the federal fintech charter; says state regulations have evolved to provide the necessary oversight; also notes that the regulations will create confusion, harm small business innovation, create monopolized institutions, increase competitive risks of non-bank entities and facilitate evasion of consumer protection. Source
The New York Department of Financial Services is allowing life insurers to...
The bill is sponsored by New York State Senator Elaine Phillips; it...
The New York Business Journal reports on CB Insights' venture capital data by state noting that fintech investment in New York companies decreased by 35% from the previous quarter to $253 million while deals increased to 24 from 19; three New York City companies, Namely, Trumid and Payfone, were among the top 10 US fintech deals; Namely was second in top fundraisings with $50 million. Source
New York State Senators held a roundtable last week for NY based blockchain companies to give their opinions on the BitLicense; the BitLicense is seen as being too restrictive, especially for startups, and the listening session was meant to get industry points of view before making reforms; one of the biggest complaints is the current regulations are too one size fits all; it is a good sign to see legislators engage the community but NY’s Department of Financial Services was not invited and so there is skepticism that any change will actually occur. Source.
European online lender Spotcap has received A$20 million (USD$15.15 million) from New Zealand Bank, Heartland; Spotcap has also launched its platform in New Zealand and will be accelerating growth in Australia, helping to expand its business in the Asia Pacific region; Spotcap's lending targets small and medium enterprises with credit lines and loans of up to $250,000. Source