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GAO: FinTech Firms, FIs Seek Alternative Data Clarity In Lending

PYMNTS

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. Such alternative data, said the GAO, could pose risk to such lending decisions. Sandboxes, Gathering Steam.

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Crowdfunding, Deferred Loan Payments Jumpstart SMB Relief

PYMNTS

Each week, PYMNTS will round up some of the latest initiatives from governments, banks and FinTechs around the world to lend support for small businesses struggling as a result of the coronavirus. FinTechs Encourage SMB Crowdfunding. Several FinTechs in the U.S. B2B FinTechs Band Together. Fed Calls On Small Banks.

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How the OCC is building Crypto America

Lex Sokolin

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 ?), A state like Wyoming has set precedent?—?almost

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How the OCC is building Crypto America

Lex Sokolin

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 ?), A state like Wyoming has set precedent?—?almost

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The top-performing community banks of 2021

Independent Banker

Wyoming Bank & Trust. In order to compete as a small bank, we have been forced to keep higher-than-peer capital levels, so that our lending limit allows us to service local borrowers’ needs. A: We have been fortunate to develop deep partnerships with some great fintechs. First Western Federal Savings Bank. Rapid City.

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Chime, Uniswap, and the future of finance could soon struggle

Lex Sokolin

Instead, it is replacing payday lending as an industry. It doesn’t have an ILC charter from Utah, or a crypto bank charter from Wyoming, or a straight-up bank charter like Varo, nor has it acquired any banks like Lending Club or Jiko. They also often lack financial literacy and education? It doesn’t want to be seen as a bank.

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