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US Justice Department Sues Visa To Block Its Planned $5.3B Plaid Acquisition

PYMNTS

billion acquisition of Plaid, arguing that the deal would allow Visa to extend what the DOJ alleges is the company's control of the online debt market. Department of Justice sued Visa on Thursday (Nov. 5) to block its planned $5.3 However, Visa rejects the Justice Department’s claim that that would create an illegal monopoly.

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Varo Achieves Milestone As First Consumer FinTech To Get National Charter

PYMNTS

Colin Walsh got lots of laughs five years ago when he talked of his intention to launch a financial technology (FinTech) startup. the San Francisco-based online bank, had the last laugh. As a national charter, the bank can offer credit and cash-flow management, the company said. Varo Bank N.A.

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SoFi Sees Investor Accounts Double Thanks To Fractional Shares

PYMNTS

The CEO of SoFi, the digital personal finance company based in San Francisco, said its investor accounts have doubled this year, mostly due to fractional shares. Since then, it has expanded its financial products to offer personal and mortgage loans. In 2019, it launched SoFi Invest and SoFi Money, a cash management account.

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Stripe Launches Custom Analytics Tool for Businesses

PYMNTS

Stripe, a San Francisco-based payment service provider that specializes in online transactions, is expanding its arsenal of financial products to cater to the needs of data-hungry businesses. Stripe is a leading innovator in the financial technology space.

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FutureAdvisor Brings RoboAdvisory to U.S. Bank Wealth Management

Fintech Labs Insights

Since being acquired by BlackRock a year ago , online investment advisor FutureAdvisor has inked partnerships with BBVA Compass and RBC Wealth Management. Recently we learned that the San Francisco-based roboadvisor founded by CEO Bo Lu has added another major client to its roster : U.S. Bank Wealth Management.

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PRUDENA Launches Online Marketplace for Stock Market Research

Fintech Labs Insights

PRUDENA launched its online stock market research marketplace last week, helping retail investors and independent financial advisors access the same kind of quantified stock market research that institutional money managers have used for years.

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LendingClub Settles With SEC, DOJ

PYMNTS

“Investment advisers have an obligation to put their clients’ interests ahead of their own,” said Daniel Michael, chief of the SEC’s Complex Financial Instruments Unit, about the decision. “By By using funds managed by LCA to benefit its parent company, LCA and Laplanche failed to do so.”. Attorney Alex Tse. “We

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