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Figure CEO: Figure Pay, National Bank Charter Will Boost Financial Inclusion

PYMNTS

While many digital-first companies springboard from payments into lending, Figure Technologies , a FinTech focused on home improvement, debt consolidation and retirement products that leverage blockchain protocols, is branching out from lending into payments. But a national charter would allow for a uniformity of presence and market scope.

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OCC Highlights, AML & CRA Risks

Perficient

Additionally, the recent rule by the OCC, the Federal Reserve, and the FDIC strengthens and modernizes Community Reinvestment Act (CRA) regulations. Contact us today to discuss in depth how we can help tackle your business challenges. Contracts should explicitly address potential default and termination.

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High-Yield Deposit Accounts Come To Robo-Advisory Service Betterment

PYMNTS

It’s really hard for banks to follow us here,” Betterment founder and CEO Jon Stein told CNBC. “If The average national yield of savings accounts is 0.10%, whereas Betterment’s annual yield is 2.69%. The average national yield of savings accounts is 0.10%, whereas Betterment’s annual yield is 2.69%.

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Axos Bank Expands Commercial Presence In NYC, LA

PYMNTS

“The nation’s two largest metropolitan areas are home to a majority of our commercial lending and banking clients,” said Greg Garrabrants, president and CEO of Axos, in a statement. and offer clients FDIC-insured accounts. The bank announced Thursday (Aug.

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Fed proposal to revise control rules would not create alternative to OCC fintech charter

CFPB Monitor

As a result, it would not provide an alternative for fintech companies that are considering filing an application with the OCC for a special purpose national bank (SPNB) charter or for an industrial bank charter in a state such as Utah, that permits such charters. For more on the proposal, see the attached discussion.

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NY federal district court deals blow to OCC fintech charter

CFPB Monitor

In doing so, the court found that the term “business of banking” as used in the National Bank Act (NBA) “unambiguously requires receiving deposits as an aspect of the business.”. National Resources Defense Council, Inc. The court’s conclusion on this point strikes us as incorrect and outcome-oriented.

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Acquire or Be Acquired 2024: A Race to Perform … and Earn the Right to Transform 

Gonzobanker

And don’t get us started on the challenge of succession planning. The FDIC Approved This Ad How many times did we hear a speaker admonish the audience to “be sure and sign up for the FDIC notification list.” Joint presentations between bankers and fintechs abounded, showcasing collaborative initiatives. Five Hundred? (Oh