FlexWage wins EWA carve-out in Connecticut
Payments Dive
JANUARY 5, 2024
The earned wage access company said the Connecticut Department of Banking determined it doesn’t need a state lending license.
Payments Dive
JANUARY 5, 2024
The earned wage access company said the Connecticut Department of Banking determined it doesn’t need a state lending license.
Payments Dive
SEPTEMBER 19, 2023
The state is instituting new lending regulations that are likely to apply to some earned wage access providers starting next month.
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CFPB Monitor
MAY 19, 2022
The Order also directs SoLo to stop enforcing loans made to Connecticut residents and make restitution of any amounts it obtained in connection with such loans together with interest. To lend or borrow using the Platform, lenders and borrowers are required to set up a special account at a designated bank.
South State Correspondent
MAY 23, 2023
Lending is getting riskier. As can be seen, the consumer is starting to feel the credit shock first while commercial lending is still performing. Minnesota, North Dakota, and Iowa were the least risky states to lend into. Banks are more leveraged than the average hedge fund, and lending decisions have outsized consequences.
CFPB Monitor
JANUARY 21, 2021
The CFPB recently filed a complaint in the United States District Court for the District of Connecticut alleging violations of various federal consumer protection laws by 1 st Alliance Lending, LLC (1 st Alliance), a former mortgage lender. The complaint also names several principals of 1 st Alliance as defendants.
CFPB Monitor
AUGUST 7, 2019
” Rather, they argue that the advances are payments for compensation already earned. The other state regulators identified in the DFS’s press release as joining the investigation are the following: Connecticut Department of Banking. Illinois Department of Financial Professional Regulation.
CB Insights
NOVEMBER 6, 2019
Payments startup Klarna ($460M VC round). 17 startups on the map have raised over $100M in disclosed equity funding, including Utah-based expense management platform Divvy ($253M), and Missouri-based PayIt ($133M), which facilitates payments between citizens and government services. Connecticut. Allied Payment Network.
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