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NY DFS announces multistate investigation of payroll advance industry

CFPB Monitor

In its press release, the DFS claims that the investigation will look into “allegations of unlawful online lending” and “will help determine whether these payroll advance practices are usurious and harming consumers.” Puerto Rico Comisionado de Instituciones Financieras. New Jersey Department of Banking and Insurance.

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Fintech Fundings: 12 Companies Raise $240 million Week Ending June 25

Fintech Labs Insights

That makes the credit score provider the second most valuable alum (after Lending Club , currently trading at $6 billion). Payments risk & compliance management. Payments gateway for online marketplaces. Online investment manager. Puerto Rican marketplace lender. HQ: Puerto Rico. PromisePay.