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

PYMNTS

New rules would require online lending companies like Ant to provide 30 percent of funding for loans, and firms would be banned from operating outside provincial bases without approval from a watchdog, Bloomberg said. And those lending in multiple provinces would have to have 5 billion yuan in registered capital at a minimum.

Industry 152
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CFPB announces advisory committee members

CFPB Monitor

Eric Kaplan, Director of the Housing Finance Program, Milken Institute (Washington, DC), was appointed to serve as CAB Chairperson. Nikitra Bailey, EVP, Center for Responsible Lending (Durham, NC). Jean Setzfand, Senior Vice President, AARP (Washington, DC). Tim Welsh, Vice Chairman Consumer and Business Banking, U.S.

DC 78
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Top 8 Regtech Conferences for Financial Institutions & Fintech

Fintech Labs Insights

Financial services might not have the most number of regulations (manufacturing wins that crown with 217,000), but there is no industry where so much of their day-to-day operations are governed by ever-changing rules, guidance and industry standards. They even have their own acronyms (KYC, AML, etc).

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14 Reasons Why You Should Grow Your Pega Career at Perficient

Perficient

We have active Pega jobs in Washington DC open. Frequently in Pega implementations we may be required to lend a helping hand in another area, or expand our experience with the product team to ensure implementation is successful.” — Lindsay Denton , Project Manager, Healthcare. TL;DR: Find Your New Pega Job at Perficient.

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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.” The DOB indicated that such loans have interest rates greater than 90 percent.

Utah 78
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Top 25 Conferences for Credit Unions in 2024

Fintech Labs Insights

Event Spotlight Fintech’s premier meeting place for decision-makers Save 10% with discount code: FKV2787LABS 60+ demos | 120+ speakers | 2,000+ attendees (1,000+ from banks and investors) Connect with senior executives who can take your business to the next level Sep 9-11, 2024 | Marriott Marquis | NYC Book Now > Please contact us if we are (..)

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The United States Of Fintech: The Most Well-Funded Fintech Startup In Each State

CB Insights

Across the US, well-funded companies are rethinking how the financial system operates. California-based lending unicorn SoFi is the most well funded fintech company with just over $2B raised since 2011. We excluded companies that have not raised equity funding since 2015 and excluded funding from debt as well as lines of credit.