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Today In Payments: LendingClub Gets OK To Acquire Radius Bancorp; GDPR Penalties Escalate As EU Officials Crack Down

PYMNTS

In today’s top news, LendingClub gets approval to acquire Radius Bancorp, and GDPR fines have escalated as European regulators step up enforcement. financial health officer at LendingClub, tells Karen Webster that the combined company will create the first U.S. UK To Require Companies To Pay Small Businesses In 30 Days.

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Data Enablers: Valen Makes Insurance Human Again

PYMNTS

Small businesses can benefit big if they’re insured by a company that partners with Valen. CEO Dax Craig said his proudest moment since founding Valen has been hearing from clients after his company was acquired by the insurance technology firm, Insurity. “As DC: There is significant crossover between FinTech and InsurTech.

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DoorDash IPO Soars; Commission Caps Make Early News

PYMNTS

And yet the challenges that face the delivery companies and their platforms remain the same, remain real, and are mounting. And the district’s attorney general has sent a cease-and-desist letter that ordered the company not to charge rates that exceed the cap. And herein lies a conundrum for the platform companies.

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Acting Comptroller discusses crypto risks, including use of bank-like terminology

CFPB Monitor

In remarks at the DC Fintech Week conference on October 11, 2022 and in a keynote address later the same day at a roundtable conducted by the Harvard Law School Program on International Financial Systems, Acting Comptroller of the Currency Michael J. Hsu pointed to “crypto savings accounts” offered by crypto companies on their platforms.

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Text Messages From Debt Collectors? Not in My Backyard!

CFPB Monitor

It took 44 years for the law to catch up to modern technology, but the CFPB finally did it in 2021 with Regulation F’s guidelines for FDCPA-compliant electronic communications like email and text messages. Regulation F’s call frequency limits do not apply to email, text messages, or other electronic communications. The Opposition.

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Bitcoin Daily: German Crypto Firm Shuttered After Pyramid Scheme Accusations; People’s Bank Of China Denies Bogus Announcement Of Stablecoin Launch

PYMNTS

German cryptocurrency company Karatbars has been ordered to stop doing business after being accused of running a pyramid scheme. But in May, authorities in Namibia called Karatbar a pyramid scheme, while last month, Florida’s financial regulator denied that the company had been issued a banking license.

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Blockchain Tracker: Capitol Hill To Startups, Incubators Inbetween

PYMNTS

Earlier this week, blockchain arrived on Capitol Hill by way of the formation of the Congressional Blockchain Caucus focused on examining and educating lawmakers on the payments technology and issues associated with the digital currency. Patrick McHenry (R-NC) introduced a new House bill to keep FinTech companies and innovation stateside.