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USA

·Jan. 10, 2020

Some Troubling Banking Trends that Could Occur in 2020

Writing in Forbes Alan McIntyre of Accenture talks about some troubling signs that are headed towards banking in 2020; banks...

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News Roundup Online Lending Regulation USA

·Dec. 7, 2016

New Law in New York Providing More Support for Transparency in Online Lending

A new law has passed in New York to provide support for online lending; the law includes direction for the development of an outreach campaign that will educate small businesses about marketplace lending; educational materials will come from the Department of Economic Development and the Department of Financial Services and will include simple language detailing potential costs and risks including the disclosure of percentage rates, fees, charges and early repayment options. Source

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Finance News Roundup USA

·Dec. 8, 2016

US Consumers Slowed Borrowing and Spending in October

The Federal Reserve released its Consumer Credit report for October on Wednesday; the report showed an increase of $16 billion in total consumer credit; revolving credit increased by $2.3 billion and non-revolving credit increased by $13.7 billion; the increase resulted in a seasonally adjusted annual rate of growth of 5.2%; at 5.2% the rate is the slowest since June; consumer spending was also down in October with a 0.3% increase signaling caution from consumers in spending and borrowing. Source

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Fintech News Roundup USA

·May. 26, 2020

Lend Academy Podcast: Jon Barlow of Finitive

The founder and CEO of Finitive, Jon Barlow, talks about the challenges non-bank lenders have in raising capital and how...

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Fintech News Roundup USA

·Aug. 11, 2017

LendIt Webinar Monday: Blockchain Technology: Helping to Transform Wealth Management & Insurance

Join LendIt on Monday, August 14 at 2:00 PM EST for a webinar about blockchain technology and insurance; the webinar will discuss how blockchain can streamline operations for wealth managers and insurance back office operations; presenters include Jayant Khadilkar, global head of analytics and technology at Tiger Risk, and Ryan Rugg, business development at R3. Source

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Fintech News Roundup USA

·Jan. 15, 2019

JPMorgan Reports on Lending, Increases Loan Loss Reserves

The bank reported solid growth in their lending business but remains cautious of downturn; the bank raised their loan loss...

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Fintech News Roundup USA

·Nov. 10, 2017

SEC Chairman Speaks on ICOs

Jay Clayton's statements suggest that firms using ICOs may need to register them with the SEC; he stated in a speech on Wednesday, "I have yet to see an ICO that doesn’t have a sufficient number of hallmarks of a security."; there have been more than 160 ICOs to date which have raised over $3 billion. Source

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Fintech News Roundup USA

·Sep. 14, 2017

SoFi Responds to the New York Times

SoFi has published a blog post in response to a New York Times article about recent news at the company; discusses what SoFi calls vague claims as it relates to their mortgage and personal loans business; provides updates on what the company is doing related to corporate culture and Mike Cagney’s departure. Source

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News Roundup Online Lending USA

·Mar. 24, 2017

Speculation on a Buyout of OnDeck Capital

Bloomberg provides insight on factors involved in a potential takeover of OnDeck Capital after rumors on Thursday that Kabbage was considering an offer to acquire the firm; it seems OnDeck's shareholders would likely veto a takeover with 45% of the company still owned by its original investors; as a private company, the structuring of the deal terms for Kabbage would also be difficult and to gain any interest from OnDeck's shareholders they would have to offer a considerable premium. Source

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Fintech News Roundup USA

·Mar. 3, 2020