When immigrants come to the U.S. they are starting at zero when it comes to a credit profile and that...
New Fiserv CEO Frank Bisignano is set to take over in July and has quite the to do list ahead...
Robinhood is currently undergoing a new fundraising deal that values the company at approximately $1.3 billion with investment from DST Global; the undisclosed funding will add to previously raised capital of $66 million; the firm offers commission free trading on US stocks and has also launched a premium Robinhood Gold option for faster money transfers and margin trading. Source
Startups like Salt Lending, Nebeus, CoinLoan and EthLend have all started a new industry by making loans to borrowers using bitcoin as collateral; with the world of bitcoin millionaires growing they will need to buy houses or cars and being able to secure a loan by putting up their bitcoin will allow then to make these purchases; securing a loan for $100,000 could cost a borrower 12 to 20 percent in interest and $200,000 in bitcoin as collateral; the loans could help bitcoin miners secure funding and potentially compete with P2P lenders; it is still early days but the potential is there as more byproducts are coming to light in the bitcoin craze. Source.
When the government announced the first tranche of funding for the Paycheck Protection Program (PPP) there was a flood of...
Brian Brooks became the Acting Comptroller of the Currency last Friday and he hit the ground running; he issued a...
The SEC Small Business Advocate Act of 2016 (HR3784) was signed into law; the law will add a new office within the Securities and Exchange Commission (SEC) for small business advocacy; the small business advocacy office will oversee and support regulation and investment activities for small businesses and small business investors; the new law will also establish a small business capital formation advisory committee that will advise the SEC on small business market activity. Source
Fabric is a new insurtech startup that is looking to focus on new and expecting parents; they currently have two offerings, Fabric Instant and Fabric Premium; Fabric Instant is an accidental death policy which you can obtain in two minutes with minimal information and Fabric Premium is their 20 year policy which requires a checkup; they recently raised a $2.5 million seed round from Bessemer Venture Partners for their launch and continued product development; policies are currently underwritten by Vantis Life Insurance at $6 per $100,00 of coverage. Source
New insurtech platform Ladder has launched, offering digital life insurance; the platform's life insurance product will be available to consumers in California; the company is marketing a faster, more efficient process for life insurance applications and coverage; its platform can approve customers in minutes for life insurance policies up to $8 million; it charges no annual policy fees and its policies are reinsured by Hannover Re US. Source
The first ever J.D. Power survey on the personal loan market makes for some interesting reading; the survey was based...