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·May. 21, 2024

Fintech Nexus Newsletter (May 21, 2024): CFPB Director calls out credit reporting and credit scores for price gouging

Speaking at an event yesterday, CPFB Director Rohit Chopra said his agency is looking at "price gouging" in credit reporting. With credit reports required for selling mortgages to Fannie and Freddie, mortgage lenders have no choice but to pay for them. Some lenders have shared that the costs for credit reports have increased by up to 400% since 2022.

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Peer to Peer Lending

·Dec. 30, 2019

The Ten Biggest News Stories of the Decade in Marketplace Lending

I started writing about marketplace lending back in 2010, so I have spent almost the entire decade immersed in this...

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Fintech Nexus Newsletter

·Nov. 22, 2023

Fintech Nexus Newsletter (November 22, 2023): CZ Out as Binance Chief, Pleads Guilty

The OpenAI story was eclipsed yesterday by monumental news in the world of crypto. The world's largest crypto exchange, Binance, has agreed to pay $4.3 billion in fines to the U.S. government for violating anti-money-laundering requirements.

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Fintech is losing a champion in Congress - Fintech Network

Fintech Nexus Newsletter

·Dec. 5, 2023

Fintech Nexus Newsletter (December 5, 2023): One year on: ChatGPT changed the tech world forever

ChatGPT launched a year ago and the tech world will never be the same. The New York Times has an in-depth look at the impact of this revolutionary new product, focusing on big tech. It is interesting to me that one of the greatest tech launches of the past decade came not from a big tech company but from an AI startup that was not even seven years old and was set up as a non-profit research lab.

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Fintech Nexus Newsletter

·Jan. 31, 2024

Fintech Nexus Newsletter (January 31, 2024): Apple releases usage details on the Apple Card for the first time

Yesterday, Apple shared details on Apple Card usage for the first time. The card was introduced in 2019 and since then it has acquired 12 million users, not a bad effort in less than five years. Users earn Daily Cash rewards when they use the card and Apple reported that the total for 2023 was over $1 billion.

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Fintech Nexus Newsletter

·May. 7, 2024

Fintech Nexus Newsletter (May 7, 2024): FIS launches new embedded finance platform

It was almost a year ago when FIS acquired embedded finance startup Bond. CEO Roy Ng and much of the team stayed on at FIS. Today, we learned about the fruits of this integration. FIS has announced the launch of Atelio by FIS, its new embedded finance platform.

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Fintech Nexus Newsletter

·May. 6, 2024

Fintech Nexus Newsletter (May 6, 2024): The SEC sends a Wells Notice to Robinhood about crypto

The SEC is at it again. Over the weekend we learned that the SEC has sent a Wells Notice to Robinhood regarding its crypto activities.

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Fintech Nexus Newsletter

·Nov. 15, 2023

Fintech Nexus Newsletter (November 13, 2023): Zelle-ously Refunding Impersonator Fraud

Zelle has started refunding imposter scam victims, after years of banks questioning their responsibility to do so.

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Fintech Nexus Newsletter

·Jan. 25, 2024

Fintech Nexus Newsletter (January 25, 2024): BaaS banks feeling the wrath of federal regulators

You could say Banking as a Service is under siege. The number of severe enforcement actions BaaS banks received skyrocketed in 2023 to 13.5% of the total. When you consider there are probably only around 100 banks out of 4,800 that are involved in banking as a service, you can see why this number is disturbing.

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Fintech Nexus Newsletter

·May. 8, 2024

Fintech Nexus Newsletter (May 8, 2024): Nubank becomes first western digital bank to 100m customers

Nubank is a fintech phenomenon. The numbers speak for themselves. Today, the Brazilian digital bank announced that it has surpassed 100 million customers in the three countries it operates in: Brazil, Mexico, and Colombia. It is the first digital bank outside of Asia to hit that milestone.

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