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

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

CB Insights

AUGUST 16, 2021

Upgrade , an online lending platform, has raised $105M in a Series E. The round drew participation from Black River Ventures, Ventura Capital, and Koch Disruptive Technologies. California-based Upgrade focuses on providing consumers with affordable and ethical credit. HOW’S THE COMPANY PERFORMING? Want the full post?

Lending 68

Lending Online Bitcoin California 68

Gonzobanker

MARCH 9, 2022

The unicorns of core banking systems have been running wild the past few weeks, and these frothy deals signal a future shift in how executives should view the world of financial technology. Through all the fun of bank techies getting rich and new players throttling old models, bank technology is still a gritty mess of hard work.

Financial Technology 136

Financial Technology Technology Fintech Community 136

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. And disrupt Lending Club did, with its marketplace lending model, scores of imitators in the U.S.

Lending 100

Lending Compliance Capital Marketing 100

PYMNTS

MAY 2, 2017

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. Drilling down a bit into the Puerto Rico market in particular, Arora noted some differences between small business lending versus, say, the United States.

Puerto Rico 118

Puerto Rico Lending Online United States 118

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

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

PYMNTS

OCTOBER 13, 2019

California and Ohio are among states that have started implementing measures to stop high-interest loans. 10), California Governor Gavin Newsom signed a law mandating a 36 percent interest-rate cap on consumer loans of $2,500 to $10,000, the article said. The battle over payday lending — specifically, how tough U.S.

Google 156

Google Policies Ohio California 156

Abrigo

APRIL 21, 2020

The CDFI instated Abrigo's SBA Lending technology platform and systemized approach soon after business owners were able to begin applying for PPP loans. Lending & Credit Risk. SBA Lending. Lending & Credit Risk. SBA Lending. Lending & Credit Risk. Lending & Credit Risk.

Security 195

Security Lending Community Oakland 195

PYMNTS

SEPTEMBER 16, 2020

With Essilor Luxottica we have an equally ambitious partner who’ll lend their expertise and world-class brand catalogue to the first truly fashionable smart glasses.”. Facebook CEO Mark Zuckerberg announced the smart glasses collaboration during the annual Facebook Connect conference, held virtually from California.

Conference 210

Conference Branding California Video 210

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

AUGUST 26, 2019

Cred , a global crypto-backed lending and borrowing platform, has announced the addition of two executive team members. He is also a past chairman of the Financial Institutions Committee of the California State Bar, as well as a past president of the San Francisco Bank Attorneys Association. and abroad, according to a press release.

San Francisco 186

San Francisco blockchain Lending Leadership 186

PYMNTS

JANUARY 8, 2021

Backers zeroed-in on a range of industries, including SMB banking and lending. With plans to launch a new small business lending bank in the U.K., In a statement, the company's Group President Suhail Sameer said the debt capital will be key to its lending operations. Zerone Microsystems Private Limited. B-North has announced $3.66

Fintech 203

Fintech Capital Lending Operations 203

PYMNTS

AUGUST 16, 2019

Small business finserv was a popular target this week, with startups securing funding for their SMB banking, lending and accounting tools. Meanwhile, logistics, data analytics, and business travel technologies also won over investors. Below, PYMNTS breaks down the latest in B2B FinTech funding. Lendingkart.

Fintech 179

Fintech Analytics Capital Lending 179

PYMNTS

JANUARY 17, 2020

Two industry startups secured their first venture capital rounds this week, with investors targeting an array of service providers — from alternative small to medium-sized business (SMB) lenders to B2B sales automation platforms — and focusing on a variety of geographic markets, from India to California. million in seed funding, U.K.-based

Payments 131

Payments Capital California Security 131

PYMNTS

AUGUST 14, 2020

Mexico’s Creze secured about $12 million in fresh funding that will bolster the company’s small business lending operations. Lending-as-a-service technology company Blend has secured a nearly $1.7 billion valuation with its recent $75 million Series F investment round.

California 163

California Capital Fintech Security 163

PYMNTS

JUNE 14, 2020

Not only has Square processed $100,000 in Bluebonnet payments annually, she said, Square’s lending arm has offered customers financing and she has used its software for customers to book sessions and launch marketing campaigns, the report said. Hudson told WSJ she plans to drop the company.

San Francisco 221

San Francisco Boston Washington Software 221

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. . Technology Tools . Providing the right digital tools has enabled the CU to extend its youth agriculture loans to more of its members.

Community 115

Community Lending social media Cards 115

PYMNTS

JANUARY 7, 2021

Lloyds Pilots Satago Technology. Lloyds' brand and reach, combined with our technology and speed of execution, is a great example of how established banks and innovative FinTech companies can work together to deliver better outcomes for [SMBs]," he said. Orange Bank Acquires Anytime.

Strategy 196

Strategy Fintech California Community 196

PYMNTS

APRIL 2, 2020

Combining this technology with artificial intelligence (AI) can boost customer engagement and have innumerable benefits for FIs of all sizes and types. Santa Rosa, California-based Redwood Credit Union, for example, found that social data was particularly important when offering auto loans. What is Data Analytics?

Analytics 237

Analytics Data Big Data social media 237

PYMNTS

DECEMBER 17, 2018

The Federal Reserve began raising interest rates about three years ago from almost zero, and after the financial crisis, many small and regional banks ramped up their lending with long-term and low-rate loans. While profit margins for lending at all sizes of banks are still rising, smaller banks’ profit margins have begun to go south.

Virginia 144

Virginia Lending New York National 144

Abrigo

MAY 22, 2020

Other states, like California, allow for home delivery. “If Lending & Credit Risk. Member Business Lending. SBA Lending. Crisis Business Membership Strategy in 2020: Adapting Technology and Executing in the New Normal. Lending & Credit Risk. SBA Lending. Lending & Credit Risk.

Lending 195

Lending Industry Taxes Community 195

PYMNTS

NOVEMBER 25, 2019

Technology companies are supplying them with the products and services their members desire, working with both individual CUs and credit union service organizations (CUSOs) to develop case management platforms, modernize systems and provide advanced loan software. A California Credit Union Keeps its Marketing Efforts Trusted and SAFE.

Alaska 154

Alaska Hawaii California Analytics 154

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. They tend to put all tech companies into just a few different classes.

Policies 191

Policies California United States Management 191

PYMNTS

JUNE 8, 2018

While the alternative lending hype has dulled a bit, it’s been replaced by a far greater hype-machine: blockchain. Based in Seattle, Qumulo offers businesses data management technology via its cloud-based file storage solution. BlueVine also noted in a press release that it plans to focus on research and development hiring.

blockchain 115

blockchain California Capital Lending 115

PYMNTS

MARCH 21, 2019

who simply don’t have access to safe lending and are susceptible to predatory lenders. Aura uses a cloud-based lending technology that lets local businesses submit applications for credit for review and approval through scoring algorithms. It’s available in 1,200 locations throughout California, Texas, Illinois and Arizona.

Arizona 107

Arizona Illinois Community Capital 107

PYMNTS

AUGUST 30, 2019

based B2B startups took control of the funding reins this week, with five of the seven newly-funded technology firms based stateside. More than $213 million was raised, with investors targeting a range of solutions from alternative lending to document and application programming interface (API) management. Credijusto.

Capital 100

Capital California Groups Industry 100

PYMNTS

APRIL 30, 2019

The Times reported late last week that initiatives include a “FinTech foresight” group that will bring together various stakeholders across financial technology and multinational companies. Other firms that operate within P2P lending and insurance technologies will be considered. In the U.S.,

Fintech 189

Fintech Regional Operations California 189

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

JUNE 22, 2020

And second, the Opportunity Fund has also seen that every dollar it lends to an SMB creates $2 in local economic activity in the form of wages, spending and tax revenues. To the contrary, small-business lending will likely retract because the segment looks that much riskier. Many Small Businesses Only Have Two Weeks Of Cash.

Maine 246

Maine Lending Community Fintech 246

PYMNTS

JULY 16, 2018

New rules may loom for technology providers pertaining to privacy — on a national level. The push comes in the wake of California passing legislation that allows consumers to demand that companies disclose how and why they are collecting data. In the banking sector at large, lenders are lending and shadow banks might be, too.

National 100

National California Regulation United States 100

PYMNTS

MARCH 8, 2019

For traditional financial institutions (FIs), working with a would-be competitor means integrating technologies for customers without having to build solutions from scratch. 10x Future Technologies. million to 10x Future Technologies, a startup focused on improving the banking experience for end-customers. Betterworks.

Fintech 181

Fintech Software Capital Lending 181

South State Correspondent

SEPTEMBER 20, 2023

For example, if you are a bank in California, Florida, New York, or Pennsylvania, going after private schools, colleges, or insurance companies should be considered due to not only the large number of target institutions but also the size of those institutions, which lends itself to having multiple banks.

Management 195

Management Survey Industry Community Bank 195

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

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

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