PYMNTS

DECEMBER 10, 2016

Two years ago today, Lending Club was ringing the bell on an IPO that one early investor called “a no-brainer.”. Lending Club’s model does not need bank branches on each street corner, and it can turn around in minutes and hours, not days. “I So what went so right for LendingClub two years ago today at its IPO — and then so wrong?

Lending 100

Lending Compliance Capital Marketing 100

PYMNTS

OCTOBER 18, 2016

Lending Club has had a tough year. In early May, news broke that Lending Club had played fast and loose with its documents and disclosures, including the fact that then-CEO Renaud Laplanche had failed to disclose a personal stake in a firm Lending Club had an investment relationship with. The revelations were shocking.

Lending 100

Lending San Francisco Comparison Maine 100

PYMNTS

SEPTEMBER 30, 2020

House committee this week began reviewing the idea of allowing the likes of Amazon or Facebook to receive charters to operate as banks — an idea that’s already gotten plenty of pushback from traditional financial institutions (FIs). This means getting regulation right is critical.

Regulation 349

Regulation National System Industry 349

PYMNTS

OCTOBER 22, 2020

In today’s top payments news around the world, Swedish peer-to-peer (P2P) lending upstart Lendify has reportedly secured $115 million of funding, while international trade platform Contour has teamed with information technology (IT) solutions firm Mphasis. Swedish Startup Lendify Closes $115M Funding Deal.

Security 134

Security Groups Payments Regulation 134

Independent Banker

SEPTEMBER 25, 2014

The better prepared, the less likely they are to run afoul of the continually shifting regulations. Regulators and industry consultants agree that community banks are generally doing a great job handling their regulatory oversight and requirements. increased operational risks. Be aware of existing or emerging risk concerns.

Compliance 101

Compliance Regulation Community Bank Community 101

Perficient

JULY 11, 2022

Here are critical facts to know about some of the most popular BNPL service platforms: Afterpay: Afterpay was founded in Australia in 2014 but was acquired by fintech Square earlier this year. When deciding whether to use a BNPL service for a purchase, it is essential to read the fine print.

Fintech 474

Fintech Trends South Dakota Apple 474

PYMNTS

SEPTEMBER 26, 2018

Australian regulators on Tuesday (Sept. Regulators probed the banks’ breaches of law in a review scrutinizing operations between 2014 and 2017, according to reports. 25) criticized top banks in the country for what authorities called inadequate reporting of breaches of financial law. Those breaches resulted in $361.9

Regulation 108

Regulation National Compliance System 108

PYMNTS

SEPTEMBER 4, 2018

payday lending startup Wonga has come to the end of the road, having filed for administration (similar in concept to bankruptcy in the U.S.) According to the Financial Times , complaints against Wonga’s lending practices, logged with regulators, were up 80 percent since that emergency injection. A Long Walk. for that loan.

Lending 100

Lending Regulation Capital Report 100

PYMNTS

JANUARY 25, 2017

billion recorded in 2014. Will 2016 once again present an explosion in alt-lending transaction value? His remarks reflect the fact that success of the alternative lending space cannot be measured solely by transaction volume and value. The debate continues to rage over the future of alternative lending.

America 100

America Lending Regulation Regional 100

PYMNTS

MAY 24, 2016

are dropping by nearly $145 million every month, according to new analysis from online marketplace lending site Funding Options. The company, which revealed the statistic on Monday (May 23), said recent regulations pertaining to bank overdrafts have caused the steep decline in small business lending volumes.

Lending 101

Lending Trends Regulation Analysis 101

PYMNTS

MARCH 31, 2016

Analysts have largely been looking at the impact on SMEs in particular, especially as Chinese authorities promote bank lending to small businesses. This month, the China Banking Regulatory Commission (CBRC) reportedly ordered local banks to boost lending to small and medium-sized corporate customers. Bank Lending.

Lending 100

Lending Online Regulation Guidelines 100

CFPB Monitor

NOVEMBER 18, 2021

Earlier this week, the CFPB issued a Request for Information (RFI) regarding an assessment of the significant amendments to the Home Mortgage Disclosure Act rules, known as Regulation C, adopted in October 2015 and subsequently revised in several additional rulemakings (the “HMDA Rule”).

Compliance 78

Compliance Data Lending Operations 78

PYMNTS

NOVEMBER 23, 2017

By the numbers , foreign firms will be able to own as much as 51 percent of domestic securities firms (including those in the fund and futures markets) operating in China, bumping the 49 percent cap up by two points. Now, total exposure to China, through lending, stands at $1.89 trillion at 2014’s end.

Marketing 128

Marketing Lending Security Regulation 128

Gonzobanker

MAY 8, 2015

The annual LendIt conference was held last month at Times Square in New York City and GonzoLender descended boldly on the scene to evaluate the mysterious underbelly of digital lending. The lending attack on community banks and credit unions has been waged. LENDING VERTICALS. peer-to-peer or Marketplace) and lending vertical.

Conference 60

Conference Lending Community Bank Community 60

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.

Connecticut 78

Connecticut Lending United States Regulation 78

CFPB Monitor

JUNE 25, 2020

Several clients have asked whether the decision bodes ill for the CFPB’s anticipated rescission of the mandatory underwriting (that is, ability to repay) provisions of its payday lending rule. Subsequently, in 2014, the DHS attempted to broaden DACA and implement the related “DAPA” program, again by memorandum and without notice and comment.

Policies 78

Policies Lending United States Conference 78

PYMNTS

DECEMBER 21, 2016

s first banks built exclusively for mobile , provided an update on business since launching in April of this year and becoming fully operational as of October, saying in a press release the company has deposits that exceeded £110 million across its Fixed Saver accounts. Atom Bank, among the U.K.’s

Lending 100

Lending Mobile Regulation Technology 100

PYMNTS

FEBRUARY 15, 2019

American Banker reports that as several banks shift operations away from the United Kingdom and establish a greater presence on the continent, there will be more focus on risks tied to those banks, and greater attention paid to assets and liabilities.

Capital 108

Capital America Course Operations 108

PYMNTS

JUNE 14, 2018

Tight regulations around the legal marijuana industry are barring non-wealthy entrepreneurs from entering the market, according to reports from Forbes on Wednesday (June 13). Reports also highlighted the successful and wealthy back stories of some of the nation’s current leading marijuana businesses.

Massachusetts 108

Massachusetts Industry Resources Operations 108

Celent Banking

MARCH 6, 2015

The figures below outline the decline of banks in the US, going from 11,462 at the end of 1992 to 5,809 in 2014. prepaid services, P2P lending, etc.). video teller) often does not lead to short term cost savings, and new services typically run in tandem with other operations, adding operating expense to already thin margins.

Conference 100

Conference Retail Community Austin 100

PYMNTS

OCTOBER 13, 2016

“I think it was a real advantage to us to start during an economic downturn,” says Kathryn Petralia, a co-founder and Head of Operations at Kabbage. “It Kabbage is a data and technology platform that enables real-time lending. The goal of all that money is, of course, to lend to small business owners.

Regulation 100

Regulation Lending US FDIC 100

CFPB Monitor

FEBRUARY 13, 2017

The FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B. Interagency fair lending task force. The FTC has authority to enforce the ECOA and Reg B as to nonbank providers within its jurisdiction.

Report 68

Report Big Data Lending Survey 68

PYMNTS

JANUARY 24, 2018

According to American Banker , the Greenville, South Carolina-based company announced it received a letter from the consumer agency “indicating the investigation into the company’s marketing and lending practices has been completed.” states and Mexico.

South Carolina 108

South Carolina Lending America Company 108

PYMNTS

JUNE 17, 2016

A few days later, one of the founding fathers of FinTech, Renaud Laplanche , was forced out of Lending Club, the peer-to-peer lender he founded in 2006, following scandals over loan disclosures and conflicts of interest. The really interesting, though less juicy, story is what got Lending Club into trouble.

Bitcoin 100

Bitcoin Lending blockchain Fintech 100

PYMNTS

FEBRUARY 13, 2019

That’s especially true for digital lenders like Insikt , better known by its brand name Lendify , which has been operating and introducing itself to the world under one of those two names for the last four years. Emerging From Invisibility. In its new life as Aura, that will not change, in some sense. They barely have 24 hours.

How To 144

How To Lending Branding Tools 144

PYMNTS

MARCH 1, 2016

Overall, 2015 venture capital investment levels dipped compared to 2014, though only slightly compared to the fraction of investment seen just three and four years ago. The alternative lending platform focuses on student lending, but some of the top U.S. It amounted to about $12.5 Global Breakdown. reigned supreme.

Fintech 100

Fintech Lending Capital Innovation 100

CFPB Monitor

OCTOBER 4, 2022

A previous version of these procedures referenced the Regulation Z definition of “private education loans” which differs from the Truth in Lending Act definition.

Policies 146

Policies Compliance Payments Training 146

Perficient

MAY 17, 2022

million vehicles from the average of 17 million vehicles each year since 2014. In today’s mixed up, muddled up, shook up world, a business model that encourages — and even desires — some level of repossession can provide substantial profits to the lender (depending on state regulations). Sales increased 3.1%

Strategy 294

Strategy Customer Experience Study Technology 294

BankUnderground

JANUARY 27, 2021

One key message stands out: banks that are more rooted in their market are much more likely to continue lending when faced with the economic fallout from such shock. Banks with access to central bank liquidity continued or even expanded their lending. A pandemic or natural disaster can impact lending in several ways.

Lending 68

Lending Study Marketing Capital 68

Jeff For Banks

NOVEMBER 9, 2018

March 2017 - Failed the OCC's community lending test causing "significant harm to customers." February 2018 - Regulators limit WF growth due to "widespread consumer abuses and compliance breakdowns." that have been issued since 2014 or earlier." September 2016 - Wrongfully repossessed service members' cars. What do you think?

New Jersey 60

New Jersey Compliance Community Meeting 60

PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. lending marketplace. Attorney Alex Tse. “We The Response.

Lending 135

Lending Fraud Management San Francisco 135

Gonzobanker

DECEMBER 19, 2022

As if that wasn’t enough, regulators took a sledgehammer to debit fee income with Reg II changes that will begin reducing card-not-present interchange fees starting in July 2023. SoFI gets a commercial bank that brings deposits, compliance, AND business lending. Since 2014, Seacoast has been on a buying spree acquiring 14 banks.

Community 216

Community Fintech Industry Innovation 216

Independent Banker

OCTOBER 31, 2021

Regulators implement ICBA-supported three-year transition. Curt Allison, The Fountain Trust Company’s chief lending officer, says his bank’s software program has been collecting data since Dec. Our regulator, the OCC, has notified its banks that they will be looking for action plans going forward that address the 2023 deadline.”.

Community Bank 91

Community Bank Community Software New York City 91

Jeff For Banks

DECEMBER 16, 2022

and Puerto Rico banking laws and regulations. 4 First BanCorp (NYSE: FBP) First BanCorp is a full service financial institution with operations in Puerto Rico, the British Virgin Islands, and Florida. Interesting that three of the top 5 have some sort of BaaS operation. five-year total return and #2 on the JFB Top 5!

Puerto Rico 78

Puerto Rico Virgin Islands Community Community Bank 78

Independent Banker

MAY 24, 2016

Direct payments made to farmers disappeared with the 2014 farm bill. million farms and the community banks that lend to them each growing season, Scanlan points out. Because real estate often collateralizes rural loans, diminishing land prices are a factor that regulators will ask community banks to keep monitoring.

Community Bank 70

Community Bank Kansas City Community Iowa 70

BankUnderground

FEBRUARY 5, 2021

Negative liquidity shocks on the other hand constitute a tightening of financial conditions, reducing lending and real investment ( Bruno and Shin (2015) and Avdjiev et al (2018) ). In a recent paper , we propose the use of money market rates to measure transmission of global funding shocks to EMs.

Marketing 95

Marketing Policies Study Tools 95

CFPB Monitor

DECEMBER 1, 2014

Mishkin Last week, the CFPB’s Ombudsman’s Office issued its third annual report covering the Office’s activities during fiscal year 2014 (October 1, 2013 through September 30, 2014). A desire for more clarity on regulatory compliance for business planning and operations. Unanticipated outcomes from regulations.

Report 92

Report Industry Meeting Groups 92