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OCC approves national bank charter applications of fintech company

CFPB Monitor

as a full service national bank headquartered in Cottonwood Heights, Utah. The bank will also provide a fully digital, mobile-first national lending platform for consumers across the country. The OCC announced this week that it has conditionally approved applications from Social Finance Inc.

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Why The ICBA Is Fighting Industrial Loan Charters For FinTechs

PYMNTS

All industrial banks are chartered in Utah – and there are only 17 such charters issued, 15 of which are currently active. And while much has been quiet on the ILC front ever since, as of 2017, two big FinTechs made them very visible again: Sofi in June and Square in mid-September. Industrial banks are not subject to BHA.

Industry 108
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Subscription Business Models Lead B2B VC Funding

PYMNTS

Venture capital appears to be picking back up in the B2B technology startup community. This week saw an impressive $324 million in combined funding for a range of B2B FinTechs and other solution providers, including alternative lenders looking to support small businesses as they manage working capital instability. FundingXchange.

San Jose 226
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2021 GonzoBanker Awards

Gonzobanker

A few years ago, very few people would have guessed that tens of billions of dollars would be invested in fintech vendors and solutions annually – except it happened. 2021 fintech investments, merger activities, and overall focus were off the charts. Best Fintech Acquisition by a Bank. Fintech Acquiring Bank.

Fintech 142
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Funding Lands T&E Firm TripActions $4B Valuation

PYMNTS

It wasn’t the only corporate T&E firm that secured new funding, though, nor was it the only B2B FinTech that raised venture capital. Reports in KFGO did not disclose the nature or value of the investment, though noted it is part of HSBC’s broader effort to invest in FinTech.

Capital 108
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House Financial Services Subcommittee Holds Hearing on “Debt Traps”

CFPB Monitor

It was no surprise then that the panel was comprised of five consumer advocates and one community banker from a total of eight panelists with not a single representative from the small dollar industry represented: Rev. Diane Standaert, Executive Vice President and Director of State Policy, Center for Responsible Lending. (A

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THE 16TH ANNUAL GONZOBANKER AWARDS

Gonzobanker

Kim, the executives and the boards of both organizations who put rivalry aside to gain scale in the new world of banking where differentiation matters and community can be more than geography. The 2016 Gonzo Marketing Medal – Goes to Elevations Credit Union for its “Egg Lending” campaign. Check it out on YouTube. see [link] ).

Utah 60