PYMNTS

JULY 14, 2020

Utah-based FuturePay has consistently appeared in PYMNTS’ top 5 alternative credit apps, with its offer of flexible monthly payments for consumers and up-front settlement for merchants. Klarna also launched its new “Klarna: Swedish for smooother shopping” campaign in June. The account comes with 1.30

Lending 130

Lending FDIC Minneapolis Utah 130

Bank Innovation

SEPTEMBER 18, 2017

SoFi’s hopes of becoming a bank have most likely been crushed after the departure of former CEO Mike Cagney, Securities and Exchange Commission former chairman Arthur Levitt told the Financial Times yesterday.

Utah 170

Utah Online Security FDIC 170

PYMNTS

OCTOBER 17, 2017

An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956. All industrial banks are chartered in Utah – and there are only 17 such charters issued, 15 of which are currently active.

Industry 108

Industry Fintech FDIC Community Bank 108

CFPB Monitor

MAY 6, 2019

. § 520(e)(1), which contains a sentence that directly justifies the SPNB charter: “A special purpose bank that conducts activities other than fiduciary activities must conduct at least one of the following three core banking functions: Receiving deposits; paying checks; or lending money.” Supreme Court’s 1984 decision Chevron U.S.A.

Fintech 68

Fintech New York National Regulation 68

CFPB Monitor

APRIL 19, 2022

At the end of last year, we completed a months-long project in updating and expanding a 2017 White Paper addressing bank-model lending—programs involving partnerships between banks (or savings associations) and fintech or other nonbank companies in the interstate delivery of loans.

California 78

California Innovation Utah United States 78