CFPB Monitor

JULY 14, 2022

The California Department of Financial Protection and Innovation (DFPI) has filed its opposition to Opportunity Financial, LLC’s (OppFi) Demurrer to the DFPI’s cross-complaint. The DFPI also alleged additional CFL violations by OppFi, including the CFL’s “anti-evasion” provisions.

California 78

California Innovation Utah Texas 78

Payments Source

DECEMBER 31, 2019

A California regulator on Monday denied a lending license to the point-of-sale financier Sezzle in a detailed written decision that could have broader consequences for upstart consumer lenders.

California 64

California Lending Regulation Compliance 64

PYMNTS

AUGUST 16, 2019

With more than $200 million in venture capital funding landing with B2B FinTechs this week, investors had their eyes set on a variety of pain points in corporate finance. Small business finserv was a popular target this week, with startups securing funding for their SMB banking, lending and accounting tools. Lendingkart.

Fintech 179

Fintech Analytics Capital Lending 179

CFPB Monitor

SEPTEMBER 10, 2020

In 2019, California enacted AB-539, the Fair Access to Credit Act (FACA), which, effective January 1, 2020, limits the interest rate that can be charged on loans of $2,500 to $10,000 by lenders licensed under the California Financing Law (CFL) to 36% plus the federal funds rate.

Utah 78

Utah California FDIC West Virginia 78

PYMNTS

DECEMBER 12, 2019

Cross-border payments, alternative lending and FinTech are thriving in new ways – and for new players. 2020: California deadline for 85 percent emissions cuts from 2010 levels. 8.5B: Amount of P2P lending in U.K. 2020: California deadline for 85 percent emissions cuts from 2010 levels. over the last 12 months.

Payments 131

Payments Lending California Fraud 131

CFPB Monitor

MAY 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 Utah United States FDIC 78

CFPB Monitor

JUNE 8, 2016

On June 9, 2016, the FTC will host a “ FinTech forum on marketplace lending ,” the first in a forum series described by the FTC as “exploring emerging financial technology and its implications for consumers.”

Lending 60

Lending Fintech California Survey 60

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

PYMNTS

APRIL 28, 2017

venture capital sphere this week: VC funding for FinTech startups in Q1 alone hit $1.2 leads the rest of the world in the total value of FinTech investment due to the large amount of funds available to invest in the market, with investors focusing on late-stage, clear front-runner FinTech companies,” said KMPG U.S. “The

Fintech 192

Fintech San Francisco Capital Software 192

PYMNTS

NOVEMBER 2, 2018

As legal cannabis spreads, the industry is a big opportunity for FinTech, as industry players struggle to manage intense compliance requirements and limited access to traditional financial services. INDUS said it will move forward with the new capital to focus on expansion and expand its staff.

Fintech 188

Fintech Capital Security Fraud 188

PYMNTS

MAY 2, 2017

For small business lenders and for FinTech too, expansion is key; but for Biz2Credit, expansion is literal. In a partnership formed recently with Puerto Rico’s Oriental Bank, Biz2Credit said late last month that it has begun offering its digital lending platform to the bank’s commercial clients.

Puerto Rico 118

Puerto Rico Lending Online United States 118

PYMNTS

APRIL 25, 2017

The FinTech industry’s future could depend on the outcome of a fight between the Office of the Comptroller of the Currency (OCC) and states, according to a report in TechCrunch. The charter is optional for FinTechs and is aimed at providing a stamp of approval by the OCC for having good compliance practices.

Fintech 109

Fintech Ohio Florida Oregon 109

PYMNTS

AUGUST 14, 2020

million in combined funding, B2B FinTechs remain resilient in today’s current market. According to reports, the investment marks Stride’s first in the FinTech space, while for ZipLoan, the funding will help the company continue to scale through volatile times. million in Series A funding.

California 163

California Capital Fintech Security 163

PYMNTS

JANUARY 7, 2021

In an environment in which connecting small- to medium-sized businesses (SMBs) to vital financial services and products is more imperative than ever, the world of SMB banking and FinTech is fostering an ecosystem of collaboration to expand availability. Orange Bank Acquires Anytime.

Strategy 196

Strategy Fintech California Community 196

American Banker

DECEMBER 30, 2019

The decision by the state’s Department of Business Oversight on an application for a lending license by Sezzle could guide fintechs and others seeking to make loans to consumers at the time of purchase.

California 41

California Lending Fintech Compliance 41

PYMNTS

JANUARY 27, 2017

is no longer the world’s largest market for FinTech investment, according to the latest report from Citigroup, released this week. Analysts found that, in the first nine months of 2016, China held the top spot for FinTech investment, with funding raised for that period doubling compared to the same period in 2015. France and India.

Fintech 100

Fintech Cards Mobile Capital 100

CB Insights

NOVEMBER 6, 2019

The fintech space is gaining momentum. Last year saw a double record of $46B invested across over 2,800 deals to fintech startups — a 92% uptick in funding year-over-year. GET THE 83-PAGE q2 2019 FINTECH TRENDS REPORT. Q2’19 fintech funding topped $8.3B, boosted by a record quarter of $100M+ mega-rounds. California.

United States 72

United States Fintech North Carolina Rhode Island 72

PYMNTS

MAY 18, 2018

million in the largest investment round ever for a FinTech that operates exclusively in the continent. According to reports, Cellulant’s funding is the largest for an Africa-only FinTech. California’s Plastiq provides small businesses with a commercial card solution to facilitate bill and expense payments.

Fintech 134

Fintech blockchain Analytics Capital 134

CB Insights

OCTOBER 26, 2017

Following our previous mapping of the most well funded startups in each state and most well funded food & beverage startups in each state , we used CB Insights database to identify the most well-funded private fintech startup in each state. FINTECH TRENDS Q3 2017 RESEARCH BRIEFING. California. Total Equity Funding ($M).

United States 78

United States Fintech North Carolina Rhode Island 78

Bussman Advisory

MARCH 9, 2024

The latest edition of the FinTech Ecosystem Newsletter is here : Join our Community Join our community of 52,000+ subscribers and stay informed on the latest trends and news in the FinTech & AI world with the weekly newsletter provided by Bussmann Advisory.

CA 52

CA Video Fintech New York 52

PYMNTS

FEBRUARY 6, 2020

5) hearing before the House Financial Services Committee , representatives from several consumer groups said “rent-a-bank” schemes harm consumers through predatory lending. In one example, she said Elevate Credit had said it would sidestep California laws that would cap interest rates on loans larger than $2,500. At a Wednesday (Feb.

Utah 130

Utah National California Regulation 130

PYMNTS

APRIL 19, 2019

The big news in B2B FinTech investment this week came from Airbnb , which is bolstering its presence in the business travel market with new funding, while corporate card startup Brex also secured a prominent debt capital investment. The company said it plans to use the investment to further build out its lending operations.

Capital 174

Capital Lending Cards cryptocurrency 174

American Banker

JANUARY 10, 2020

Former CFPB Director Richard Cordray and consumer advocates have designed a proposed state consumer agency that would subject more financial firms and fintechs to state oversight.

California 58

California Fintech Regulation Lending 58

PYMNTS

SEPTEMBER 1, 2017

and Asia, and PYMNTS lined up all the B2B FinTechs that recently scored fresh funding. The executive said BitPesa plans to use the funding to continue to disrupt the industry, expand and add new products like trade finance and other corporate lending solutions. This week’s B2B venture capital activity led to an impressive $141.2

Fintech 135

Fintech Capital Groups Analytics 135

PYMNTS

JANUARY 17, 2020

But the company wasn’t the only B2B FinTech to secure fresh funding. Alternative small business lending platform Akseleran, based in Indonesia, announced $8.55 Based in California, 6Sense offers businesses a B2B sales and marketing solution. Below, PYMNTS looks at how more than $292.5 million landed at B2B startups this week.

Payments 131

Payments Capital California Security 131

PYMNTS

JULY 30, 2020

In February, the four-year-old FinTech startup announced it had topped one million customers. In January, Sezzle was denied a crucial lending license from California. “These are unprecedented times, and retailers are looking for innovative solutions to support their customers…” .

Minneapolis 145

Minneapolis Leadership Strategy California 145

PYMNTS

NOVEMBER 29, 2019

Vouch Insurance , which offers insurance to high-growth technology firms through an online platform, said last week that it has raised $45 million in a funding round, and has expanded its service into California. The total raised to date comes in at $70 million.

Policies 191

Policies California United States Management 191

Payments Source

SEPTEMBER 19, 2019

A first-in-the-nation bill that drew unanimous support from the state Senate failed to get over the finish line this year. What happened?

California 64

California National Lending Regulation 64

PYMNTS

OCTOBER 4, 2019

An Egyptian firm landed the MENA region’s largest-ever seed round, a California company proved U.S.-based based alternative small business lending isn’t dead with investors and an India startup landed more than half a billion dollars. See all of the latest B2B fundraises below. ForwardLine Financial. million.

Capital 128

Capital Lending California Regional 128

PYMNTS

AUGUST 27, 2019

One of the largest factors that sets credit unions (CUs) apart from large banks and FinTech providers is their emphasis on member relations. The scrutiny isn’t stopping mergers, however, as two of the largest CUs in Southern California are set to become one early next year. billion in assets.

Data 122

Data Report Los Angeles California 122

Bank Innovation

DECEMBER 8, 2017

Other investors include California-based investment firms Accel and TCV, both of whom […]. EXCLUSIVE- Emerging markets-focused money transfer app WorldRemit has raised another round of funding, bringing the total amount to $220 million.

California 249

California Marketing Capital Online 249

American Banker

JANUARY 17, 2020

The fintech Sezzle received its license after agreeing to refund customers and pay a fine for previously making loans that state regulators had deemed illegal.

California 41

California Regulation Fintech Digital Banking 41

American Banker

NOVEMBER 7, 2023

The San Carlos, California, consumer lender said it's "exploring strategic options" for its credit card portfolio, discontinuing its investment and retirement products and sunsetting a partnership with Sezzle in addition to embarking on a new round of job cuts.

California 81

California Cards Management Lending 81

Gonzobanker

FEBRUARY 23, 2022

In this emerging landscape, financial institutions, often community banks, frequently “rent” their charter to financial technology firms (fintechs) that serve a specific consumer group as a means to grow non-interest income. While customer relationships are being redefined by fintechs, there will always be a place for community banking.

Community Bank 133

Community Bank Strategy Risk Management Fintech 133

PYMNTS

OCTOBER 11, 2019

Japan and Australia, allowing Chinese SMBs to trade globally by providing local collection, payments, lending, foreign exchange and other treasury management offerings. million in Series B funding, which the firm announced this week via blog post , with funding led by The SBI Group and Augmentum Fintech. FinTech company.”

Capital 169

Capital California Analytics Management 169

PYMNTS

AUGUST 8, 2019

The New York State Department of Financial Services (NYDFS) has announced it will lead a multi-state investigation into alleged violations of state regulations of the short term lending industry, specifically in the area of payroll advances. For that privilege, it says, it doesn’t charge fees or interest, or have hidden costs to use the app.

Puerto Rico 134

Puerto Rico Regulation New York South Dakota 134

CFPB Monitor

OCTOBER 11, 2018

At the Online Lending Policy Institute’s (OLPI) annual summit in Washington, D.C. The panelists discussed the California Consumer Privacy Act’s potential application to financial institutions as a result of shortcomings in the exception for information “collected, processed, sold, or disclosed pursuant to” the Gramm-Leach-Bliley Act.

Policies 60

Policies Lending Data Online 60