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Connecticut Banking Dept. issues cease and desist order to stop fintech loan finder from operating without small loan license

CFPB Monitor

The Order also directs SoLo to stop enforcing loans made to Connecticut residents and make restitution of any amounts it obtained in connection with such loans together with interest. To lend or borrow using the Platform, lenders and borrowers are required to set up a special account at a designated bank.

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Bankwell Bank pilots generative AI in small-business lending

American Banker

It's early days in the Connecticut bank's testing of Cascading AI, but one clear benefit has emerged: The software can handle the many inquiries that come in on Friday nights, after loan officers have gone home.

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JPMC Bets On Travel Rebound With Acquisition Of cxLoyalty's Rewards Division

PYMNTS

cxLoyalty will continue to strengthen and expand the value of relationships for its clients and their customers through its leading technology, rewards content in relevant categories including travel, gift cards and merchandise, and world-class personalized customer experience," Siegel said in the statement.

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Connecticut slaps fintech Solo Funds with cease-and-desist order

American Banker

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State Regulators Investigate Payday Advances

PYMNTS

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. They see themselves as offering up an entirely different product from stem to stern.

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The United States Of Artificial Intelligence Startups

CB Insights

Collectively, these startups have raised over $5B, with leading companies such as Butterfly Network (Connecticut, $350M in total disclosed equity funding), Welltok (Colorado, $339M), and InsideSales.com (Utah, $264M). Connecticut. IDx Technologies. See the full map below. Info Assembly. California. Butterfly Network.

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To Win in Digital Banking, Get Techies Talking to Service Reps

American Banker

Arjun Sirrah takes great pride in his company's national-level success as a community bank in Connecticut competing against digital lending startups in student loan refinancing. billion in loans in the last couple of years. …