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China's Financial Industry Firms Redo Plans, Funding In Wake Of More Oversight

PYMNTS

With regulators cracking down in China, FinTech leaders are scrambling for capital and trying to plan their futures, Bloomberg reported Wednesday (Nov. Earlier this month, China debuted drafts for new rules for eCommerce companies, with the goal of trying to cut down on monopolistic power, PYMNTS reported.

Industry 152
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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. Fines levied under the General Data Protection Regulation (GDPR) jumped almost 40 percent in the past 12 months as European Union (EU) regulators stepped up enforcement efforts.

DC 142
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Data Enablers: Valen Makes Insurance Human Again

PYMNTS

Like FinTech, InsurTech debuts in an industry that has historically been very slow to adopt new technologies. DC: There is significant crossover between FinTech and InsurTech. Both are in heavily regulated industries that have historically been very slow to adopt new technologies. PYMNTS: Why was the company founded?

DC 101
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California Dept. of Business Oversight launches “true lender” investigation of auto title lender’s partnership with Utah bank

CFPB Monitor

Thereafter, “using its existing lending operations and personnel, LoanMart commenced ‘marketing’ and ‘servicing’ auto title loans purportedly made by CCBank, a small Utah-chartered bank operating out of Provo, Utah.” Thus, both the OCC and FDIC have adopted regulations rejecting the Second Circuit’s Madden decision.

Utah 78
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ID Experts Light Up Portland

PYMNTS

Radar also helps clients with cybersecurity and data breaches, but is more focused on complying with government regulations and determining whether online security breaches should be reported to the government authorities. The capital Radar raised will be spent on technology, sales and marketing. Investments for 8.19.2016.

Portland 100
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GonzoBanker Awards 2017

Gonzobanker

FinTech threats and distractions. Heavy-handed regulators. Rainbolt has quietly built a community bank in the past 20 years that is closing in on $2 billion of market cap. For 35 years, Wilmers led M&T with creativity, integrity and the “old-school” wisdom of a community banker who created a $26 billion market cap company.

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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.