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Fintech Deals Are Still Happening – and It’s a Good Thing

Gonzobanker

All the capital flowing into the digital fintech space is helping to solve banking industry challenges. As the industry’s appetite for digital technology grows, the capital that’s been flowing into mostly digital-focused fintech is solving real industry challenges right now. SoFi/Galileo: This $1.2 customer impact.

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Phlatbed CEO: How Mobile Tools Keep On-Demand Wages Moving

PYMNTS

In the United States, 8 million consumers have fallen below the poverty line since May, for example, movement that severely reduces the access these consumers may have to financial tools. percent in 2019, its lowest rate in a decade since the FDIC first began tracking this statistic in 2009.

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Reports of Small Business Lending’s Death are Greatly Exaggerated

Celent Banking

After all, in the United States small businesses comprise 99.7% The lack of “just right” solutions for many small business financial problems has been a golden opportunity for FinTech firms. But FinTech companies figured out early on that small businesses weren’t getting the attention they deserved from traditional banks.

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California Dept. of Financial Protection and Innovation responds to OppFi’s attempt to block “true lender” challenge to loans made through bank partnership

CFPB Monitor

OppFi’s complaint recites that prior to 2019, the Bank entered into a contractual arrangement with OppFi (Program) pursuant to which the Bank uses OppFi’s technology platform to make small-dollar loans to consumers throughout the United States (Program Loans).

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OppFi asks court to reject California Department of Financial Protection and Innovation’s “true lender” challenge to loans made through bank partnership

CFPB Monitor

OppFi’s complaint recites that prior to 2019, the Bank entered into a contractual arrangement with OppFi (Program) pursuant to which the Bank uses OppFi’s technology platform to make small-dollar loans to consumers throughout the United States (Program Loans).

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California Department Of Financial Protection And Innovation files cross-complaint alleging OppFi is “true lender” on loans made though bank partnership and seeking penalties of “at least $100 million”

CFPB Monitor

OppFi’s complaint recites that prior to 2019, the Bank entered into a contractual arrangement with OppFi (Program) pursuant to which the Bank uses OppFi’s technology platform to make small-dollar loans to consumers throughout the United States (Program Loans).

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Top 63 Online Digital Banks for U.S. Consumers (Nov 2023)

Fintech Labs Insights

In the 15 years after the financial crisis, $27 billion (a mix of equity & debt) was invested in the leading United States consumer challenger banks. Consumers (Nov 2023) first appeared on Fintech Labs SMB Center. 197,000 $1,700 2 Robinhood 6080 2013 SF 17,190,000 $6,200 3 SoFi 4017 2011 SF 13,080,000 4.6