Late last Friday the SBA and Treasury issued more guidance for the Paycheck Protection Program; the latest interim final rule...
American Banker reports on the Small Business Administrations lending programs; loan volume for the 7(a) working capital program increased 5% in fiscal 2017 to $25.4 billion; the 7(a) program has increased by almost 70% since 2012; the 504 real estate program increased 6.3% over the prior year period; American Banker discusses the increase of loans to minorities, the biggest markets for SBA loans and the biggest banks in the space. Source
Yesterday the SBA released details of the companies that received loans in the Paycheck Protection Programs; the company names of...
There is a growing need all across the financial services landscape for top tech talent and now colleges are offering...
Motif, a robo-adviser platform recently announced that they were shutting down; now Charles Schwab is acquiring Motif’s technology and intellectual...
Charles Schwab’s CEO, COO and Head of Adviser Services presented details to analysts on how the TD Ameritrade merger is...
Science Blockchain is the first incubator ICO to go to market; Argon Group will be advising the ICO; Science Blockchain began in 2011 and they have co-founded and invested in over 70 companies; they aim to take their expertise to help select blockchain entrepreneurs; token holders will get access to new tokens from incubated portfolio companies; investors will also benefit in any upside from owning Science Tokens. Source
Scott Sanborn talks with Bloomberg about LendingClub's recovery and Q217 results; says the firm has focused on internal controls and investors; highlights that 44% of loan funding in Q2 came from banks; also discusses competition with credit cards and the consumer credit market. Source
The statement provides considerations for main street investors and market professionals; investors should be aware of the risks of these types of investments which have less investor protections compared to the traditional securities market; to date no coin offerings have been registered by the SEC; the statement notes, “A change in the structure of a securities offering does not change the fundamental point that when a security is being offered, our securities laws must be followed.” Source
Jay Clayton's statements suggest that firms using ICOs may need to register them with the SEC; he stated in a speech on Wednesday, "I have yet to see an ICO that doesn’t have a sufficient number of hallmarks of a security."; there have been more than 160 ICOs to date which have raised over $3 billion. Source