According to a new survey by LightStream 75 percent of respondents plan to pursue a home improvement project in 2020...
States have voiced their opposition against the OCC's fintech charter proposal and could be a factor limiting the charter from proceeding; with the charter, fintechs can be granted special purpose national bank status which includes national governance with exemption from state laws; many states have actively integrated regulations and processes for alternative lenders, including state usury laws and regulations for payday lenders; opposing states say the charter would complicate existing state level laws and initiatives. Source
CNBC is reporting that Goldman Sachs has quietly launched a new point of sale installment loan product with JetBlue as...
Credible is a multi-lender focused on student loans; company announced the addition of the Massachusetts Educational Financing Authority (MEFA) to its platform which now includes six refinancing lenders; MEFA will provide student loan refinancing through its MEFA Education Refinancing Loan; the MEFA Education Refinancing Loan is available in all 50 states, has a minimum of $10,000 and includes both fixed and variable interest rate options with the majority of rates ranging from 3.31% to 6.85%. Source
There are still three billion people around the world who are left out of the financial system; while many companies...
The Bank of International Settlements released a new report on fintech, tokenized securities, central bank digital currencies, cross-border payments and...
The new loan product is helping Americans get quick access to cash but it is not entirely free. Source
Nomura analyst Dan Dolev says that Square resembles Amazon and Google in the early days of those tech giants; "In 10 years, Square is likely to be a very different company helped by accelerating share gains from payment peers and relentless disruption of services like payroll and HR," Dolev said in a note to clients that was reported by Business Insider; the combination of new business ventures and increasing the number of ways they process payments are twos of true main reasons for the optimism; shares were trading almost 5 percent higher on Friday after the note. Source.
Digital banking is becoming more important than ever during the pandemic and leading VC Andreessen Horowitz believes branches are not...
Goldman Sachs continues to show interest in consumer finance; CEO of Final, Aaron Frank announced that the startup would be closing in December 2017 but did not provide further details; a dozen engineers and product managers will be joining Goldman Sachs; Final was founded in 2014 and offered consumers a credit card; users were able to generate virtual cards unique to a merchant. Source