A group of House Republicans has sent a letter to Comptroller Thomas Curry requesting his agency slowdown its plans for a fintech charter; the letter was signed by House Financial Services Committee Chairman Jeb Hensarling and 33 other House Republicans; it primarily suggests that stakeholders are not receiving an appropriate amount of time to comment on the full details of the fintech charter and that there is potential for the fintech charter to be overturned by Congress. Source

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Fintech News Roundup USA

·May. 1, 2018

Zelle Sees a lot of Potential in B to C Payments

Zelle is hoping to grow their B to C payments by more than 10 percent in 2018; the company already...

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News Roundup Online Lending USA

·Mar. 15, 2017

Lend Academy Article: Are SoFi Borrowers Really Defaulting More?

Lend Academy provides more details on defaults triggering a breach in a SoFi securitization portfolio; the portfolio reporting the defaults was SoFi's first securitization of unsecured consumer loans, the SoFi Consumer Loan Program 2015-1 LLC; given the terms of the deal and the overall characteristics, the breach does not seem to have broad market indications; the deal arrangers set the trigger level at 3% which is a relatively low rate and the cumulative net loss is only reported to be marginally above the trigger; a chart from PeerIQ also provides more details on the cumulative net loss rates for SoFi. Source

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Fintech News Roundup USA

·Feb. 23, 2018

Lend Academy Article: My Quarterly Marketplace Lending Results – Q4 2017

Peter Renton, Founder of Lend Academy and Co-Founder of LendIt shares his latest quarterly investment results; Renton earned an overall 5.01% return for the 2017 calendar year with his investments in LendingClub, Prosper, P2Binvestor, Peerstreet, Streetshares, AlphaFlow, Money360 and YieldStreet. Source

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Fintech USA

·Jun. 11, 2020

Alternative Finance Industry Starting to Come Back

The alternative finance market was hit hard when most of the country when into lockdown around mid March; some companies...

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Fintech News Roundup USA

·Jan. 16, 2017

CFPB Complaint Reports on Bitcoin

In the Consumer Financial Protection Bureau's complaint reports, the agency showed only seven US complaints pertaining to bitcoin in 2016; data mined by LendEDU reports four filed against CoinBase and three against Circle; nonprofit advocacy group Coin Center says 37 complaints were filed on digital currency from 2011 to 2015. Source

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