Crop Pro is based in Des Moines and has raised an $8 million Series A round; company provides services and products for farmers including crop insurance; will use the funds to expand its team and speed development of products and services; firm aims to bridge the gap between agricultural and financial technology; Crop Pro is the first agriculture venture-funded insurance provider to be approved by the USDA to offer federal crop insurance to farmers. Source
Yesterday, LendingClub shared that they were laying off 460 people, accounting for 30% of their workforce; the cuts were across...
Last week the government passed the CARES Act which included $349 billion in loan guarantees for small businesses; we also...
Small business owners who sell on Amazon’s platform will soon receive invitations for revolving credit lines from Goldman Sachs; fixed...
Wells Fargo was one of the first banks to use online banking back in the 1990s but now finds itself...
In March the Securities and Exchange Commission denied approval for a Bitcoin ETF by the Winklevoss twins because they said too many bitcoin markets were unregulated; with recent futures markets at the CBOE and CME starting there is new hope for ETF approvals; previous filings for ETFs are now being refilled and newer ETFs are being filed as recently as late last week; there has been similar products in Canada and Switzerland with both trading at premiums. Source.
Personal Capital is looking to compete with banks offering high yield accounts; the new offering called Personal Capital Cash offers...
Madden v. Midland has been proceeding since 2015; Judge Cathy Seibal of the US District Court for the Southern District of New York issued a decision in the case on February 27; Manatt, Phelps & Phillips, LLP provides their insight on the court's decision; the central focus of the case is on the inconsistency between the issuing lender (New York) and Midland Funding, the debt collector, (Delaware); the judge ruled in favor of the borrower in default setting a precedent for better alignment between rates of issuing lenders and the loan's affiliated debt collectors. Source
Yesterday LendIt Fintech recently hosted a webinar called “How Increased Engagement Will Impact Fintechs and Digital Banks”; panelists included Colin...
The partnership will focus on Money360 providing pre-arranged financing options for eligible commercial properties listed for auction on the Ten-X platform; financing options on these properties will be transparently disclosed on the platform and Money360 will work with buyers to complete the underwriting, processing and closing of the loan; the partnership expands deal flow of commercial properties for Money360, which utilizes technology to enable commercial real estate loan transactions from $1 million to $20 million. Source