LendingClub grew revenue and announced settlements in two class action lawsuits. Source
American Banker has put together a slideshow describing the various ways AI will change how banking is done; bank executives...
Consumer borrowing increased by $15.2 billion in February, according to a report from the Federal Reserve; credit card borrowing increased by $2.9 billion helping total credit card debt outstanding to increase to $1 trillion; auto loan and student loan borrowing also increased in February by $12.3 billion. Source
Brian Brooks became the Acting Comptroller of the Currency last Friday and he hit the ground running; he issued a...
JPMorgan’s Interbank Information Network (IIN) has already signed up more than 220 banks and now they plan to expand the...
Reuters reports that Colchis Capital Management, a major player in investing in online direct lending platforms is winding down its...
Affirm has struck a partnership with Shopify to power their buy now pay later product; “We’re super excited to be...
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
According to Bloomberg, Ripple attempted to provide financial incentives to exchanges Gemini and Coinbase for its XRP cryptocurrency to be listed; Some believe that the exchanges are reluctant to include XRP because the token could be deemed securities because it is controlled by one single company; the article by Bloomberg shares that a Ripple executive offered a $1 million cash payment to Gemini which was followed by other incentive offerings; Ripple also offered lending Coinbase $100 million of XRP to let users trade the asset. Source
Derek White who previously worked for BBVA and Barclays will be joining US Bank as chief digital officer and will...