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FDIC settles Operation Choke Point lawsuit

CFPB Monitor

The FDIC has announced that it has entered into a settlement of the lawsuit filed against it and the OCC in 2014 by a trade group and several payday lenders challenging “Operation Choke Point” — a federal enforcement initiative involving the FDIC, OCC and other federal agencies. In July 2017, the D.C.

FDIC 112
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Latin America Tech Booms As Brazil Dominates And Regional Investors Grow

CB Insights

Investors from around the globe are flocking to Latin America — within the first half of 2018, deep-pocketed investors like Andreessen Horowitz, Sequoia Capital, and DST Global have backed startups in the region. in funding since 2012. Since 2012, investments into the region have nearly tripled. at the time.

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FreshBooks Buys Mexico-Based Digital Invoicing Firm Facturama

PYMNTS

"Combining Facturama's regional expertise with FreshBooks’ online payments and scaling expertise will accelerate our ability to better serve Mexico’s growing small business and startup market.". Ramirez López and Arochi started Facturama in 2012, and the company was selected as a 500 Startups portfolio firm in 2013.

Regional 130
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Careem To Launch Food Delivery Service, Complete $500M Funding Round

PYMNTS

We believe the opportunity for deliveries in the region is even bigger than ride-hailing,” Chief Executive Mudassir Sheikha told Reuters. “It Careem Now will be separate from Careem’s ride-hailing operation and have its own app and call center. Careem has operated in 120 cities and 15 Middle East countries since its 2012 launch.

Regional 129
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Top News In Payments: Bank Closings Hit Rural Areas; Kaspersky Highlights Rise Of Fake Notifications

PYMNTS

In today’s top payments news, more than half of the 3,114 counties in the United States lost bank branches from 2012 to 2017. Over half of the 3,114 counties in the United States lost bank branches from 2012 to 2017, with rural areas feeling the brunt of the closures per Federal Reserve research. for $4 billion.

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Stripe Teardown: How The $35B Payments Company Plans To Supercharge Online Retail

CB Insights

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Specifically, the Collisons aimed to more seamlessly connect online businesses and payment processors, allowing more businesses to accept online payments.

Online 98
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Avant Brings SaaS Lending Tech To Banks

PYMNTS

Since its founding in 2012, the firm has specifically distinguished itself in a crowded field of tech-based underwriters, with its focus on the consumer group it calls the “underbanked middle class.”. Avant is really two businesses operating under one roof — connected in crucial ways, but separate in function.

Lending 134