BankInovation

JULY 17, 2020

Fintechs looking to expand beyond their Bay Area or New York City headquarters have welcomed an unlikely visitor in recent years: Utah Gov. We’ve done a lot of trips to Northern California, Southern California, […]. Gary Herbert. “The

Utah 83

Utah New York City Fintech California 83

CFPB Monitor

APRIL 19, 2022

In 2019, California enacted AB 539 which, effective January 1, 2020, limited the interest rate that can be charged on loans less than $10,000 but more than $2,500 by lenders licensed under the California Financing Law (CFL) to 36% plus the federal funds rate.

California 78

California Innovation Utah United States 78

PYMNTS

MAY 27, 2020

And, they said, traditional players can find competitive strength by linking up with firms that had previously been viewed as foes (that would be FinTechs). HMBradley offers FDIC-insured accounts through Hatch Bank based in California, and rates of about 3 percent on its savings accounts.

Fintech 236

Fintech Innovation Digital Banking FDIC 236

PYMNTS

JUNE 25, 2019

Cross River Bank has partnered with a range of FinTech startups since its 2008 launch, including collaborations with Stripe , Coinbase and Affirm , reports said. Its takeover of Seed strengthens its position in the small business FinTech market. reports said.

Community Bank 116

Community Bank Community Digital Banking FDIC 116

CFPB Monitor

JUNE 20, 2022

banks with $10 billion or less in assets), the CFPB would need to navigate potential concerns that the FDIC, the banks’ primary federal regulator, might have if the CFPB were to challenge such partnerships. Nonbank/bank partnerships are currently under siege from several directions.

FDIC 78

FDIC California Texas Fintech 78

CB Insights

AUGUST 3, 2021

Mercury , a fintech company, has raised $120M in a Series B. California-based Mercury is an online banking platform that offers a suite of financial services such as FDIC-insured bank accounts, physical and virtual cards, and cash management for startups, e-commerce stores, and angel investors, among others.

Digital Banking 73

Digital Banking Company FDIC California 73

Abrigo

SEPTEMBER 14, 2022

Financial institutions, fintech companies, and other small business lenders will need to begin collecting a wide array of small business lending data under the Consumer Financial Protection Board’s (CFPB) proposed small business lending data collection rule. California Reinvestment Coalition v. Proposed Rule. Learn More. Learn More.

Lending 195

Lending Data Regulation Community 195

BankInovation

MARCH 10, 2023

The California Department of Financial Protection and Innovation (DFPI) announced today that, pursuant to California Financial Code section 592, […]

California 52

California Data Capital Regulation 52

CFPB Monitor

OCTOBER 10, 2019

Celtic could not make and keep the loans on its balance sheet because they would create an unacceptable risk under FDIC regulations. The complaint includes claims for violations of state usury laws (California, Massachusetts, Colorado, New York) and racketeering and conspiracy under federal RICO statutes. Concepcion , 563 U.S.

Massachusetts 84

Massachusetts California New York Utah 84

Independent Banker

MARCH 31, 2022

based banks, fintechs and more, sits on top of a payments rail operated by Payrailz, a digital payments company based in Glastonbury, Conn. Moreover, payments are withdrawn from the user’s FDIC-insured checking account and are protected by multiple layers of security, which prevents fraudster access.

Community Bank 91

Community Bank Community Payments Meeting 91

CFPB Monitor

JULY 1, 2019

The Consumer Education Foundation, a California-based nonprofit consumer advocacy organization, has filed a petition with the FTC asking it to investigate the use of “secret surveillance scores” in the U.S. marketplace.

Analytics 84

Analytics FDIC Data California 84

PYMNTS

AUGUST 17, 2017

Chase, Wells Fargo, Bank of America and Citi, to name a few, all scaled back their physical bank branch locations between 2012 and 2016, according to the Federal Deposit Insurance Corporation (FDIC). Among the participating FinTechs are Payso, SnapCheck and Token. It’s a really exciting time to be in the space.”. About the Tracker.

Millennials 132

Millennials Digital Banking San Francisco Fintech 132

Independent Banker

JUNE 30, 2022

Using FDIC data for 2021, we calculated a lender score out of 100 for each community bank. So, when the community bank’s leadership learned of a fintech that needed a bank partner to launch a credit-building tech product, they were intrigued. California International Bank, N.A. By Ed Avis. Methodology. Lee’s Summit, Mo.

Community Bank 172

Community Bank Community National Philadelphia 172

Independent Banker

APRIL 30, 2022

Home Bank of California. A: We have been fortunate to develop deep partnerships with some great fintechs. Using FDIC data, we took into account pre-tax return-on-assets (ROA) figures from the past three years, with the most recent year weighted at 3x, second most recent year at 2x and third most recent year at 1x. Cherryvale.

Community Bank 172

Community Bank Community Montana Taxes 172