Seed offers small businesses of all stripes the ability to open an account in less than 5 minutes on their website or mobile app; they now offer banks software to help them digitize account openings; they are one of a handful of fintech companies offering banks a white label solution to increase small business deposits; Seed comes with KYC procedures but has the ability to adapt to the bank as they know banks need customization. Source.
The US Senate's Banking Committee majority leader says a full reform of Dodd-Frank is unlikely but the Committee will seek to pass targeted reforms; the Banking Committee majority leader also sees larger regulatory changes coming mainly from the independent agencies; the outlook means the Financial Choice Act led by House Financial Services Committee Chairman Jeb Hensarling is also unlikely to be passed in the Senate; "The Choice Act is our omnibus legislation, but we will also reintroduce its component bills," says Hensarling; a previous executive order from President Trump which halts new federal regulations or requires regulators to repeal two rules for every new one issued is also slowing the regulatory process. Source
Yesterday the Senate passed a bill that will provide more flexibility for small businesses that have applied for Paycheck Protection...
Top Senators on the Senate Banking Committee have asked stakeholders to provide information on breaches so they can consider legislative...
Sens. Sherrod Brown, D-Ohio, Elizabeth Warren, D-Mass., and three other Democratic senators sent a letter to Upstart Network and other...
The SEC's report on ICOs as securities has prompted ShapeShift to review the listings on its cryptocurrency exchange; ShapeShift will likely delist some of its traded listings and says it does not want to be characterized as a securities exchange; ShapeShift and its legal counsel will apply the Howey Test to the cryptocurrency listings which is the current market standard also used by the SEC for determining whether an offering is considered a security. Source
Big banks have shown recently that they are not afraid to spend on technology in order to better set themselves...
Sharestates is raising capital for a Series A funding round on SeedInvest; planning for potential investment of $3 million in preferred equity; Sharestates provides real estate investment opportunities and access to capital on its platform; has total loan originations of $178 million. Source
Since launching in 2015, Sharestates, a real estate crowdfunding company, has crossed $275 million in originations across 323 loans; in December 2016 the company originated $42 million, nearly doubling total loan volume in just over three months; average net yield to investors has been 11%; Sharestates recently announced they were raising their Series A through SeedInvest; the company is currently profitable and was previously a finalist for PitchIt@LendIt. Source
Shopify announced a flurry of new and updated products yesterday; one of the biggest changes was the announcement of Shop...