PYMNTS

MAY 25, 2016

As the dust continues to settle from the great Lending Club explosion, the big banks of Wall Street are reportedly inking up their Plan Bs when it comes to exposure to those loans should the market deteriorate more. “This is noise banks want to avoid,” said Allard, who heads FireBreak Capital, a hedge fund that focuses on lending.

Lending 100

Lending Online Capital New York 100

PYMNTS

JULY 14, 2020

In addition to its core POS lending business, Affirm branched out into financial services in June, debuting a high-yield savings account called Affirm Savings. In May, the New York-based FinTech cut a deal with payments platform Stripe , giving consumers more credit to access at checkout. The account comes with 1.30

Lending 130

Lending FDIC Minneapolis Utah 130

PYMNTS

JUNE 3, 2020

The coronavirus has idled all sorts of lending, as banks and other financial services firms eye consumers with wariness. To that end, Wells Fargo is putting the brakes on much of its lending to independent auto dealerships. To that end, Wells Fargo is putting the brakes on much of its lending to independent auto dealerships.

Lending 130

Lending New York Course Report 130

PYMNTS

AUGUST 20, 2020

To that end, as evidenced by a number of statistics (and no shortage of commentary), the Main Street lending program — designed to, well, help Main Street — is falling short. The Main Street lending program is focused on companies that cannot raise funds in the capital markets through issuing, say, bonds, or selling equity.

Maine 218

Maine Lending Pennsylvania Boston 218

PYMNTS

JANUARY 21, 2021

In the home lending segment, the company saw two-thirds of applications done digitally. In one example, New York-based Ocean Financial Federal Credit Union recently noted that it saw mobile check deposits triple from $565,000 in March to $1.3 Overall, the company saw 10 percent growth in its active mobile customer base to 40.9

Mobile 252

Mobile Report Trends Digital Banking 252

PYMNTS

MAY 31, 2019

Silly question — of course you are. But don’t forget to review this past week of busy news, if only to make sure you did not miss anything. Amazon denied a big story about its marketplace suppliers, and new research from PYMNTS examined connected vehicles and other issues. PayPal Hits $10B SMB Lending Milestone.

Lending 122

Lending Payments Apple social media 122

PYMNTS

AUGUST 12, 2019

Similarly, the SAFE legislation has more than 200 co-sponsors in the House, and of course that breadth of support is bipartisan. Recent developments in New Hampshire show how financial services can extend at the state level to cannabis firms. Of particular focus will be payroll advances, according to reports.

Puerto Rico 128

Puerto Rico New Hampshire New York Regulation 128

Independent Banker

JUNE 30, 2022

Here, we highlight some of last year’s most successful loan producers in the areas of agriculture, commercial and consumer/mortgage lending. The score combines the average of the bank’s percentile rank for lending concentration and for loan growth over the past year in each lending category. By Ed Avis. Methodology. AGRICULTURE.

Community Bank 172

Community Bank Community National Philadelphia 172

PYMNTS

FEBRUARY 28, 2020

So: The New York Times has reported that, per commentary from University of Chicago Economist Chang-Tai Hsieh, Chinese businesses are running at about 20 percent of normal levels – so, we wonder, what happens to the vast majority of the world’s commerce? In research issued during last year’s trade war between the U.S.

US 130

US Chicago Course New York 130

PYMNTS

JULY 29, 2020

The tailwind, of course, has been the announcement by the Trump administration that there’s a deal in place with the firm to manufacture some of the ingredients that find their way into generic drugs. Thus, in one fell swoop, the company is expanding facilities based in New York and Minnesota, creating a Kodak Pharmaceuticals operation.

Minnesota 130

Minnesota Course New York Resources 130

PYMNTS

APRIL 4, 2019

The trigger, of course, was the Great Recession and consumers and banks pulling the credit levers back and hard. By the first quarter of 2017, household debt had passed its 2008 peak of $12.657 billion, according to a new report released by the New York Fed. As of the last quarter of 2018, total U.S. They make up 10.7

US 116

US New York Trends United States 116

PYMNTS

APRIL 22, 2019

Might banks be making inroads into the hearts and minds of smaller firms as they seek out capital – as some SMBs cite at least some dissatisfaction with non-banking lending conduits? In addition, the relatively higher online lending rates come against a backdrop of what we might term a bit more caution about non-traditional lending.

Study 122

Study Lending Online Survey 122

PYMNTS

MARCH 6, 2020

Airbase said it will use the funding to expand its team, launch its New York City office, and further product development. In a statement, SMEcorner said it will deploy the funding to expand its distribution and reach 20,000 new SMB customers over the course of the coming year.

Capital 202

Capital Fintech New York City Security 202

PYMNTS

APRIL 24, 2019

Of course, those more than beat the national average on checking accounts, which is currently at a 0.08 In addition, Wealthfront works with FDIC-insured partner banks — including East West Bank , New York Community Bank and others — to hold customers’ deposits. It now manages $13.5

FDIC 108

FDIC New York Community Bank Course 108

Bussman Advisory

MARCH 9, 2024

The latest edition of the FinTech Ecosystem Newsletter is here : Join our Community Join our community of 52,000+ subscribers and stay informed on the latest trends and news in the FinTech & AI world with the weekly newsletter provided by Bussmann Advisory.

CA 52

CA Video Fintech New York 52

Abrigo

APRIL 6, 2022

For example, the New York Department of Financial Services requires institutions that it regulates to report certain cybersecurity events to the agency within 72 hours. This is shorter than the reporting deadline established by other regulators, such as the New York Department of Financial Services. keep me informed.

Security 195

Security Regulation District of Columbia United States 195

CFPB Monitor

JANUARY 7, 2021

However, the AG plaintiffs in the new lawsuit instead view the Rule as “an unlawful attempt” by the OCC to “facilitate predatory lending” and support “rent-a bank schemes.”. Of course, this new lawsuit is not the only (or perhaps most serious) risk to the Rule.

District of Columbia 78

District of Columbia North Carolina New York Policies 78

PYMNTS

FEBRUARY 20, 2018

Late payments and out-and-out defaults and charge-offs are on the rise across a few lending segments. According to the New York Federal Reserve, household debt surged in the final quarter of 2017 to $13.15 A fair portion of that interest rate, according to the Fed, was an uptick in mortgage lending. Student Lending.

Lending 105

Lending Cards America New York 105

PYMNTS

MARCH 25, 2020

That’s one conduit of lending. In addition, the central bank has stated that it will buy “asset backed securities” in the form of bundled loans, sold as bonds, that in turn will give banks money to lend. The storm clouds are gathering, of course. That’s only the beginning of the deluge, of course.

Course 100

Course Maine Study Lending 100

PYMNTS

FEBRUARY 18, 2020

as quoted by the newswire , the interest rate reduction is “in line with expectations, while the injection amount is relatively small, as interbank funding is sufficient after the new year.”. According to Zhou Guannan, an analyst at Huachuang Securities Co.,

Policies 130

Policies Retail New York Lending 130

South State Correspondent

SEPTEMBER 20, 2023

Of course, all things are rarely equal. Client 1 builds balances as rates increase, while Client 2 is negatively impacted by rates. As mentioned before, all things being equal, Client 1 is almost twice as profitable as Client 2 based on balances alone. Client 2 needs cash management, particularly payment services.

Management 195

Management Survey Industry Community Bank 195

PYMNTS

MAY 23, 2017

It took almost a full decade, but Americans’ debt level has reached a new all-time high, surpassing the $12.68 According to the latest data out of the New York Federal Reserve , total U.S. The news itself is “neither cause of celebration or alarm,” according to NY Fed Research Officer and study co-author Donghoon Lee.

Millennials 108

Millennials Lending New York Trends 108

PYMNTS

OCTOBER 24, 2019

District Court for the Southern District of New York ruled Monday (Oct. Back then, the New York State Department of Financial Services had argued, through a lawsuit, that the OCC had overstepped its authority with the special purpose charter. Of course there are ways for FinTechs to broaden their services.

Fintech 101

Fintech FDIC New York National 101

PYMNTS

DECEMBER 7, 2020

Paysafe plans to go public on the New York Stock Exchange with a $9 billion listing. 7), in further evidence of the interest online financing/payments/financial services firms are garnering, online lending startup Social Finance (SoFi) has reportedly “held discussions” with other SPACs for an IPO. Enter Bill Ackman.

Online 161

Online Marketing New York Report 161

PYMNTS

MAY 26, 2017

According to a report in The New York Times , Goldman Sachs’ new report, “FinTech Brazil’s Moment,” shows that greater than 200 financial technology companies located in Brazil should generate a potential revenue collectively of about $24 billion over the course of the next 10 years.

Fintech 100

Fintech blockchain New York Risk Management 100

PYMNTS

SEPTEMBER 13, 2018

The tipping point, of course, was with Lehman. For the biggest firms, as noted by The New York Times , that tally has gone from $630 billion a decade ago to $1.1 And, of course, here in the States, regulation writ large has helped transform banking. trillion today. banks, for example, to roughly 10 percent today.

Course 108

Course Capital Regulation System 108

PYMNTS

SEPTEMBER 14, 2020

So we looked at the financing end, and then all of those lending options. Of course, the Nikes and Under Armours have legal teams and vast amounts of capital. of Long Beach, New York, for webinars and advice. I didn't like the industry that I saw, as far as training people on Amazon,” Henig noted. “So

Capital 214

Capital Long Beach Branding Guidelines 214

PYMNTS

JULY 17, 2018

In one case at the state level (and it’s New York, so movement there carries much weight within the financial arena), Bloomberg reported that NY’s financial regulator is challenging what the newswire terms a “fundamental principle” on bank and FinTech relationships that brings interest rate caps into that regulator’s crosshairs.

Fintech 100

Fintech Regulation New York Management 100

PYMNTS

SEPTEMBER 13, 2018

The tipping point, of course, was with Lehman. For the biggest firms, as noted by The New York Times , that tally has gone from $630 billion a decade ago to $1.1 And, of course, here in the States, regulation writ large has helped transform banking. trillion today. banks, for example, to roughly 10 percent today.

Course 100

Course Capital Regulation System 100

PYMNTS

OCTOBER 29, 2018

The firm, which provides an open platform that makes it possible for financial institutions (FIs) and businesses to access a variety of financial services, raised $44 million in an initial public offering (IPO) on the Nasdaq Stock Market in New York Thursday (Oct. There are, of course, many potential partners with which to work.

Lending 167

Lending Risk Management Data Marketing 167

PYMNTS

JUNE 8, 2020

Prospective customers also say access to credit is becoming difficult in the first place as banks tighten lending standards. According to the New York Federal Reserve , credit-card users in the wealthiest ZIP codes average roughly $14,000 of available credit to draw on.

Cards 144

Cards Millennials New York Lending 144

PYMNTS

JANUARY 22, 2020

Titled “Why the Future of Merchant Payments Requires a Digital-First Approach,” the webinar generally revolved around questions related to the development and ongoing rise of omnichannel commerce — already a major topic in the payments and commerce world in these first weeks of the new year.

Retail 137

Retail Millennials New York City social media 137

CFPB Monitor

MARCH 15, 2021

Court of Appeals for the Second Circuit held oral argument last week in the OCC’s appeal from the district court’s final judgment in the lawsuit filed by the New York Department of Financial Services (DFS) seeking to block the OCC’s issuance of special purpose national bank (SPNB) charters to non-depository fintech companies.

Fintech 78

Fintech New York National Analysis 78

PYMNTS

DECEMBER 27, 2016

There are, of course, a variety of ways to document that. Wells Fargo was just a bank that was really good at getting its customers to sign up for credit cards, and Lending Club and its P2P counterparts were coming to eat mainstream banking’s lunch. They should, however, be commended for lending money. And they are.

Lending 117

Lending New York DC Cards 117

Jeff For Banks

NOVEMBER 19, 2014

But in strategic planning retreats that I moderate, community financial institutions insist that they lend to small businesses. In fact, when I recently spoke to a group of New York bankers, I opined that community FIs would lend to small businesses only if they have three years of operating profit and a building as collateral.

Lending 92

Lending San Francisco Community Community Bank 92

PYMNTS

AUGUST 22, 2018

The crypto landscape is littered with digital tokens, with promise and peril, with stories of booms … and, of course, more recently, busts. The New York Times offered a series of anecdotes yesterday that shows what happens when selling means that cryptocurrencies are down 75 percent from their peak (as they are now).

cryptocurrency 100

cryptocurrency Boston United States Course 100

PYMNTS

SEPTEMBER 9, 2019

Take the tech sector: You have seen a lot of innovation, but you also have platforms with network effects that lend themselves to scale.”. Things will, of course, come to a head, of sorts, on the Hill Thursday. In some sectors, the balance of these is more ambiguous. So, I worry that’s not a penalty. That’s an incentive.”.

Rhode Island 189

Rhode Island District of Columbia Google North Carolina 189