PYMNTS

AUGUST 15, 2018

Headquartered in Orange County, California and founded in 2003, CashCall is a big firm that consumers likely know best from its early commercials featuring the late Gary Coleman. During its 15 years in business, the firm grew up to be the largest lender of its kind in the state of California. The California Court Loss.

Lending 101

Lending California Marketing San Francisco 101

CFPB Monitor

JUNE 15, 2022

The California Department of Financial Protection and Innovation (DFPI) has issued final regulations to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances. .

California 78

California Regulation CA Utah 78

PYMNTS

DECEMBER 7, 2017

The state of California’s insurance regulator is aiming to suspend or revoke the insurance licenses from Wells Fargo due to illicit sales practices with an online referral program. The sales were for renters’ insurance and term life policies that are offered by four insurance firms via the referral program. 24 to respond.

California 108

California CA Regulation Policies 108

PYMNTS

JULY 20, 2018

California lawmakers are considering legislation that would extend disclosure requirements currently required by consumer lenders to lenders of small business loan products, according to Manatt, Phelps & Phillips, LLP. According to the article’s authors, Thomas R. McMorrow and Charles E. Washburn, Jr.,

California 100

California Los Angeles Lending Regulation 100

CFPB Monitor

OCTOBER 6, 2022

A California state court has overruled the demurrer filed by Opportunity Financial, LLC (OppFi) to the cross-complaint filed by the California Department of Financial Protection and Innovation (DFPI) in which OppFi asked the court to reject the DFPI’s “true lender” challenge.

California 78

California FDIC Analysis Utah 78

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.

Lending 195

Lending Data Regulation Community 195

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

Bank Innovation

MARCH 16, 2016

Lenny is meant for mobile (of course) and launched today in California. Millennials hate credit — but a new service called Lenny is out to change that. It will reach Texas, Florida and New York in the next 10 to 12 months, according to the company, which claims that, in less than three Read More.

Millennials 150

Millennials Mobile Florida Lending 150

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

PYMNTS

OCTOBER 13, 2019

CEO Mary Jackson of Online Lenders Alliance told the WSJ that payday loan practices were allowed, and that the ban hurts “legitimate operators,” as well as customers looking for “legal loans.” California and Ohio are among states that have started implementing measures to stop high-interest loans.

Google 156

Google Policies Ohio California 156

PYMNTS

APRIL 16, 2020

three California technology companies, all wanted a piece of the federal government’s $350 billion loan program, which was designed to keep businesses in the black during the COVID-19 pandemic. . It didn’t help that the SBA’s online loan platform couldn’t handle the lending software the companies used. PayPal Holdings Inc.,

Fintech 160

Fintech Lending Software Training 160

South State Correspondent

MAY 9, 2024

The credit risk in California increased the most by 103 bps due to higher inflation, primarily driven by wage costs. As can be seen, Georgia, California, and Nevada have the highest levels of probabilities of defaults and some of the highest increases. As an average, the two standard deviations are around 2.02%.

Data 195

Data Trends North Dakota Capital 195

CFPB Monitor

OCTOBER 11, 2018

At the Online Lending Policy Institute’s (OLPI) annual summit in Washington, D.C. earlier this week, the OCC’s recent decision to accept applications from non-depository financial technology firms for a special purpose national bank (SPNB) charter was the focus of considerable discussion.

Policies 60

Policies Lending Data Online 60

PYMNTS

DECEMBER 30, 2019

As banks continue to shy away from providing small business loans, many small and medium-sized business (SMB) owners have turned to online lending companies to fill the gap. There is a significant number of bad actors who are mostly unregulated,” said Luz Urrutia, CEO of Opportunity Fund , a California nonprofit.

Lending 131

Lending California Online Company 131

PYMNTS

SEPTEMBER 14, 2020

Plus, new regulations in China will make Ant Group support any payments, lending or finances with substantial funds. California-based Oracle Corp. Chinese online commerce firm Alibaba Group is reportedly in discussions to invest $3 billion in Grab Holdings, which is based in Singapore and best renowned for its ridesharing business.

Technology 148

Technology Groups Payments US 148

PYMNTS

SEPTEMBER 25, 2020

The grants are part of the San Jose, California-based worldwide online payments system’s $530 million pledge made earlier this year to strengthen minority communities and fight for economic equality and racial justice. “To PayPal Holdings Inc. provided $5 million in grants to support Black-owned businesses in the U.S.

San Jose 261

San Jose Baltimore Nebraska Community 261

PYMNTS

SEPTEMBER 17, 2020

Five years after LoanDepot ditched plans to go public, the California-based lender, now worth as much as $15 billion, is giving the idea a second look. The firm, which offers mortgages and other direct-to-consumer loans, is planning an initial public offering (IPO), sources told Bloomberg.

San Francisco 160

San Francisco New York Lending California 160

CFPB Monitor

APRIL 14, 2021

The California Department of Financial Protection and Innovation (DFPI) has issued modifications to its proposed regulations to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances.

CA 78

CA Regulation California New York 78

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 terms of general practice, lenders, including those that operate online, must partner with chartered banks.). At a Wednesday (Feb.

Utah 130

Utah National California Regulation 130

PYMNTS

MARCH 31, 2020

COVID-19 is spurring firms that rely on consumer spending, and on lending to finance big-ticket purchases, to invent new ways to keep business flowing – with a nod to the fact that the uncertain economic impact of the virus may hurt consumers’ near-term ability to pay for those items. Necessity, as they say, is the mother of invention.

Houston 141

Houston Lending New York Examples 141

PYMNTS

MAY 31, 2019

The California-based CU sought to solve these problems by launching a financial support program to supply children and teens with loans while also teaching them smart money management. . “If Youth members also tend to be smartphone-savvy, and many returning borrowers take advantage of the opportunity to apply online. .

Community 115

Community Lending social media Cards 115

PYMNTS

APRIL 22, 2020

Online auto sales are the only game in town. That’s good news for consumers who shop for cars online, which they did at an 86 percent rate during 2019. A small percentage of car purchases were made online last year. Even if someone doesn’t buy a car online, they are researching that purchase online,” said Russell.

Marketing 195

Marketing Online Video Industry 195

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

Bank Innovation

MARCH 22, 2016

Online marketplace lender Avant Inc. The new auto loan product will initially launch in California, and is expected to be live in Illinois and Georgia by early in the second quarter, with a national rollout expected by the third quarter, according to Avant.

Illinois 150

Illinois Georgia California National 150

PYMNTS

SEPTEMBER 29, 2020

San Diego-based California Coast Credit Union , for example, has instituted automatic loan deferral for its members, while Texas-based Border Federal Credit Union has aided members in filling out online applications for Paycheck Protection Program (PPP) loans.

San Diego 141

San Diego Innovation Cards California 141

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.

Capital 128

Capital Lending California Regional 128

CFPB Monitor

SEPTEMBER 11, 2018

It appears likely that California Governor Jerry Brown will sign a bill passed on August 31 by the state’s Senate, Senate Bill 1235, which would create consumer-style disclosure requirements for certain commercial loans and other finance products, such as merchant cash advances and factoring transactions.

CA 60

CA California Lending Security 60

American Banker

MAY 9, 2016

State officials in California have asked top online lending firms a series of probing questions regarding their compliance with laws and regulations dealing with referral fees, bank partnerships, fair lending and other sensitive issues.

Regulation 28

Regulation Online California Lending 28

PYMNTS

JANUARY 13, 2017

The biggest online lender for small businesses in the U.K., 12), the company said California-based venture capital firm Accel Partners led the funding round, with participation from Index Ventures, Union Square Ventures, and Temasek Holdings. Funding Circle, announced that it secured $100 million in equity funding.

Lending 100

Lending California Capital Online 100

PYMNTS

OCTOBER 31, 2016

SoFi, the online lender, is moving ahead with plans to roll out a life insurance product, reportedly acquiring licenses and inking a deal with Protective Life Insurance. The paper noted that, in September, SoFi received a license to sell life insurance in California through Protective Life Insurance.

South Dakota 100

South Dakota New York Arkansas Massachusetts 100

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

PYMNTS

APRIL 19, 2019

The B2B FinTech space saw its fair share of venture capital, too, with investors targeting spend management, alternative small business lending, workforce management and enterprise crypto services — plus, some news of a few more investment rounds likely on the horizon.

Capital 174

Capital Lending Cards cryptocurrency 174

PYMNTS

JANUARY 24, 2017

20) from a California appeals court that it can go after Native American tribal lenders that market payday loans. Great Plains Lending , according to the report. The Consumer Financial Protection Bureau got the nod Friday (Jan. Rawlinson wrote in a 20-page opinion in the case, CFPB v.

Lending 100

Lending United States California Report 100

American Banker

APRIL 22, 2016

Illinois, California and New York are all taking initial steps to try to crack down on borrower abuses in the fast-growing digital lending marketplace. The states are facing pressure to intervene because federal agencies have yet to take decisive action.

Illinois 31

Illinois New York Online California 31

American Banker

APRIL 22, 2016

Illinois, California and New York are all taking initial steps to try to crack down on borrower abuses in the fast-growing digital lending marketplace. The states are facing pressure to intervene because federal agencies have yet to take decisive action.

Illinois 28

Illinois Regulation Online New York 28

PYMNTS

APRIL 25, 2017

Among the states that have issue with it are New York, Florida, Ohio and California. Vullo in January penned a letter to the OCC in which she said banks with national charters don’t have to abide by state lending rules, and that the new charter could allow payday lenders to sign up for protections meant for tech companies.

Fintech 109

Fintech Ohio Florida Oregon 109

PYMNTS

JULY 20, 2018

million with B2B startups this past week, and while investment targets were diverse (including B2B eCommerce and small business lending), the bulk of the funding landed at companies focused on enhancing businesses’ ability to assess their performance. Investors placed more than $136.5 This week, Fattmerchant announced $10.5 OfBusiness.

Analytics 105

Analytics Capital Tools California 105