PYMNTS

APRIL 25, 2017

The FinTech industry’s future could depend on the outcome of a fight between the Office of the Comptroller of the Currency (OCC) and states, according to a report in TechCrunch. The charter is optional for FinTechs and is aimed at providing a stamp of approval by the OCC for having good compliance practices.

Fintech 109

Fintech Ohio Florida Oregon 109

PYMNTS

MARCH 7, 2017

Speaking in front of the LendIt conference in New York yesterday (March 6), Comptroller of the Currency Thomas Murray told those assembled that the oversight body will go forward with plans to offer banking charters to fintech companies. Murray disagrees. That’s wrong.

Fintech 100

Fintech New York Conference National 100

PYMNTS

APRIL 28, 2017

Good news emerged from the U.S. venture capital sphere this week: VC funding for FinTech startups in Q1 alone hit $1.2 billion, found a new report from KPMG. Financial Services FinTech Practice Co-Leader Anthony Rjeily in a statement. The company said it will also look to expand into new markets. In total, $97.7

Fintech 192

Fintech San Francisco Capital Software 192

PYMNTS

JUNE 17, 2019

The dispute over the Office of the Comptroller of the Currency ‘s (OCC’s) national bank charter, which became available to FinTech firms last year, has reportedly caused technology conglomerates to shy away from a tool that aims to provide nonbank firms with a more streamlined way to operate on a national level.

Google 142

Google National Fintech Regulation 142

PYMNTS

JULY 17, 2018

The movement toward linkups between traditional financial institutions (FI) and FinTech firms seems an inexorable one — in the cross-selling of corporate services into consumer bases that embrace individuals and, typically, small- to medium-sized businesses (SMBs). However, looking elsewhere beyond U.S.

Fintech 100

Fintech Regulation New York Management 100

PYMNTS

AUGUST 16, 2019

15) that it will launch regional commercial banking operations in New York and Los Angeles in an effort to grow its corporate client base and connect existing business customers in the markets with its senior banking professionals. The bank announced Thursday (Aug. The bank is targeting the middle-market and niche clientele, it noted.

Los Angeles 101

Los Angeles New York FDIC Lending 101

CFPB Monitor

MAY 6, 2019

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 textual analysis started with a review of the powers of national banks under the NBA.

Fintech 68

Fintech New York National Regulation 68

CFPB Monitor

JANUARY 9, 2019

federal district court in October 2018 by the Conference of State Bank Supervisors (CSBS) to stop the OCC from issuing special purpose national bank (SPNB) charters to fintech companies. Nothing in the NBA identifies deposit-taking as an indispensable function for a national bank to be engaged in the “business of banking.”.

Fintech 60

Fintech Regulation New York National 60

PYMNTS

OCTOBER 26, 2018

More legal troubles have emerged for the Office of the Comptroller of the Currency (OCC) over its plan to introduce national bank charters for FinTechs, aimed at making it easier for alternative financial services players to do business. Reports in Reuters on Thursday (Oct.

District of Columbia 156

District of Columbia National Fintech New York 156

PYMNTS

AUGUST 20, 2018

FinTech Firms Eye Bank Charters. And in the wake of the announcement late last month that FinTechs will be able to apply for banking licenses with the Office of the Comptroller of the Currency, caution abounds. As many as 85 percent of firms are boosting budgets over the previous year’s, tied to data privacy and compliance.

Fintech 101

Fintech Survey Regulation Resources 101

PYMNTS

JULY 20, 2017

Keith Noreika, the temporary head of the Office of Comptroller since May, is defending an idea that first came up under his predecessor Tom Curry: offering online lenders and FinTech startups banking charters. The OCC announced it was exploring granting special-purpose charters to FinTech companies in December.

Online 100

Online Regulation United States National 100

PYMNTS

APRIL 24, 2019

Of course, those more than beat the national average on checking accounts, which is currently at a 0.08 In addition, Wealthfront works with FDIC-insured partner banks — including East West Bank , New York Community Bank and others — to hold customers’ deposits. It now manages $13.5 Consumers are fed up.”.

FDIC 108

FDIC New York Community Bank Course 108

CFPB Monitor

OCTOBER 11, 2018

At the Online Lending Policy Institute’s (OLPI) annual summit in Washington, D.C. earlier this week, the OCC’s recent decision to accept applications from non-depository financial technology firms for a special purpose national bank (SPNB) charter was the focus of considerable discussion. In her remarks and responses to questions, Ms.

Policies 60

Policies Lending Data Online 60

Independent Banker

MARCH 31, 2022

“I’m so inspired by the professionalism, integrity and commitment of our executive committee and board of directors as we work together to serve the needs of community bankers across the nation,” says Terry Jorde, ICBA senior executive vice president and chief of staff. ICBA president and CEO Rebeca Romero Rainey echoes this sentiment.

Community Bank 239

Community Bank Community Industry Texas 239

CFPB Monitor

AUGUST 3, 2020

Midland Funding , which held that a non-bank that purchased charged-off loans from a national bank could not charge the same rate of interest on the loans that the national bank charged under Section 85 of the National Bank Act (NBA). 1463 applies only to interest that a national bank or federal savings association may charge.

National 78

National New York California Illinois 78

PYMNTS

DECEMBER 15, 2017

By now, the alternative lending market is hardly new, and investor appetite for startups in the space seems to have waned. This week, alternative finance companies raised more than $77 million in venture capital funding, accounting for nearly 70 percent of total funds raised by B2B FinTech startups this week. SMB Finance.

Fraud 115

Fraud Capital New York City Lending 115

American Banker

DECEMBER 24, 2020

The measure, just the second of its kind the nation, mandates that fintechs, factoring firms and other nonbank small-business lenders clearly explain the terms and conditions to borrowers.

National 80

National Fintech New York Lending 80

Gonzobanker

DECEMBER 17, 2021

A few years ago, very few people would have guessed that tens of billions of dollars would be invested in fintech vendors and solutions annually – except it happened. 2021 fintech investments, merger activities, and overall focus were off the charts. Best Fintech Acquisition by a Bank. Fintech Acquiring Bank.

Fintech 143

Fintech Strategy Leadership Lending 143

CFPB Monitor

SEPTEMBER 10, 2020

The DBO indicated that it “is investigating whether LoanMart’s role in the arrangement is so extensive as to require compliance with California’s lending laws. According to the DBO’s press release, until the FACA became effective, LoanMart was making state-licensed auto title loans at rates above 100 percent.

Utah 78

Utah California FDIC West Virginia 78

PYMNTS

AUGUST 27, 2019

One of the largest factors that sets credit unions (CUs) apart from large banks and FinTech providers is their emphasis on member relations. ABA’s request stems from concerns about rising fraud levels at CUs, as well as New York City’s recent taxi medallion scandal.

Data 122

Data Report Los Angeles California 122

Independent Banker

DECEMBER 31, 2021

That’s followed by residential mortgage lending (36.3%), small business lending (32.1%), commercial and industrial (C&I) lending (30%) and agricultural lending (23.6%). will continue its mission to fund microloans to new small businesses in New York City’s low-income neighborhoods, says president and CEO Carlos P.

Community Bank 144

Community Bank Community Lending Louisiana 144

Fintech Labs Insights

AUGUST 12, 2016

If unanimously positive perceptions are the hallmark of a bubble, then rest assured that the alt-lending market has moved past that stage. So if there’s no bubble in the alt-lending part of the fintech universe, should we fear a bust? Looking at the P2P lending market in the U.K., Fintech Advances in Asia.

Trends 12

Trends Lending Fintech blockchain 12

CFPB Monitor

JUNE 29, 2020

Madden held that a non-bank entity that purchased charged-off loans from a national bank could not charge the same rate of interest on the loans as the national bank was able to charge based on its authority under Section 85 of the National Bank Act (“NBA”). Marlette Funding, LLC et al. (

FDIC 60

FDIC National Analysis Regulation 60

Lex Sokolin

JANUARY 14, 2021

We love the robot as much as the next Fintech commentator. Second, Fintechs (e.g., This is why the OCC has spent so many calories on defining special purpose fintech charters , and why the local community bodies hate it. is New York better than Wyoming ?), National banks can custody crypto assets.

America 52

America Wyoming National Capital 52

Lex Sokolin

JANUARY 14, 2021

We love the robot as much as the next Fintech commentator. Second, Fintechs (e.g., This is why the OCC has spent so many calories on defining special purpose fintech charters , and why the local community bodies hate it. is New York better than Wyoming ?), National banks can custody crypto assets.

America 52

America Wyoming National Capital 52

Jeff For Banks

MARCH 3, 2018

More talk about fintech, dinosaur bankers, and flavors of the month. In the above blog post, I discussed Apple and Bank of New York Mellon. SunTrust - Developed Lightstream , a national online lending platform to provide consumer loans for practically any purpose. or Idea Killers? Much to my chagrin.

Apple 66

Apple Millennials Massachusetts FDIC 66

William Mills

APRIL 20, 2017

This year’s National Technology in Mortgage Banking Conference & Expo took place March 26-29 at the Hyatt Regency in Chicago. JPMorgan Chase, Ellie Mae, USAA, and Quicken Loans were part of a panel discussion on their perspectives about fintech. which became a recurring theme at MBA Tech.

blockchain 46

blockchain Detroit Conference Knowledge Base 46

PYMNTS

SEPTEMBER 22, 2017

Across the pond, estimates Innovate Finance and Pitchbook, the B2B FinTech market has gotten nearly half of all FinTech funding in the European Union through the past year. The European Union is also gearing up to promote new, continent-wide mandates that would promote FinTech growth and investments, especially post-Brexit.

US 108

US Apple Innovation Regulation 108

Fintech Labs Insights

NOVEMBER 12, 2015

It was a quieter week in fintech fundings. Other than Blackstone’s $820 million bet on what is likely the oldest financial technology company on the planet, NCR founded in 1884 as National Cash Register, just $82 million flowed to the under-100-year-old crowd. HQ: New York City. HQ: Buffalo, New York.

New York City 12

New York City Company Fintech San Francisco 12

Fintech Labs Insights

AUGUST 31, 2016

Our FinDEVr New York developer showcase was a success! The latest from FinDEVr New York 2016 presenters. Fintech Trending : Look Who’s Chasing Venmo , Student Loan Servicing Falls Short. Join Currency Cloud in New York next week for FinovateFall 2016. Alumni updates. Follow FinDEVr on Twitter.

New York 14

New York Fintech Lending System 14

CFPB Monitor

MARCH 8, 2017

Earlier this week, we attended the LendIt USA conference in New York City, a leading annual fintech conference, at which CFPB Director Richard Cordray and Comptroller of the Currency Thomas Curry both spoke. Comptroller Curry said that the OCC definitely has authority to grant special purpose charters without new legislation.

Conference 74

Conference Policies New York City Data 74

Independent Banker

JUNE 30, 2022

Here, we highlight some of last year’s most successful loan producers in the areas of agriculture, commercial and consumer/mortgage lending. The score combines the average of the bank’s percentile rank for lending concentration and for loan growth over the past year in each lending category. By Ed Avis. Methodology. AGRICULTURE.

Community Bank 172

Community Bank Community National Philadelphia 172

Fintech Labs Insights

JULY 25, 2016

Officially named KBW Nasdaq Financial Technology Index (KFTX) , the fund tracks 49 fintech companies, including 17 Finovate and FinDEVr alums. FinDEVr New York 2016 presentation. Fidelity National Information Services (FIS). FinDEVr New York 2016 presentation. FinDEVr New York 2016 presentation.

Fintech 12

Fintech New York Guidelines Financial Technology 12

CFPB Monitor

JULY 9, 2020

As envisioned, the payments charter would replace the state-by-state money transmitter licensing approach currently used by many non-bank payment processors and FinTechs. More detailed information about the new OCC payments charter will be forthcoming in the near future, possibly by this fall, according to Acting Comptroller Brooks.

National 78

National Company Payments New York 78

CB Insights

DECEMBER 4, 2019

In parallel, Amazon has made several fintech investments, mostly focused on international markets (India and Mexico, among others) where partners can help serve Amazon’s core strategic goal. This report is a collection of everything we know about Amazon’s foray into banking, financial services, and fintech. Amazon Payments.

Cards 101

Cards Lending Strategy US 101

CFPB Monitor

MARCH 15, 2021

Court of Appeals for the Second Circuit held oral argument last week in the OCC’s appeal from the district court’s final judgment in the lawsuit filed by the New York Department of Financial Services (DFS) seeking to block the OCC’s issuance of special purpose national bank (SPNB) charters to non-depository fintech companies.

Fintech 78

Fintech New York National Analysis 78

Fintech Labs Insights

MARCH 4, 2015

Our team is hard at work sorting through the huge stack of applications from innovative fintech companies looking to showcase their latest and greatest in front of more than 1,300 attendees. Buy your ticket before this Friday March 6th and you''ll save $200 on your chance to watch the future of fintech unfold live on stage!

New York 12

New York California Strategy Capital 12