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Fed reported to have reservations about fintech charter

CFPB Monitor

Last July, the OCC announced its decision to accept applications for special purpose national bank (SPNB) charters from fintech companies. According to a Reuters article published today , Federal Reserve officials have expressed reservations about allowing such access to fintech companies.

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How Relationship Lending & A Transaction-Oriented Focus Can Win More Business Loans

Abrigo

Cornerstone Advisors surveys have found that the percentage of community financial institution executives who see fintech companies like Square and PayPal, which offer business loans, as significant threats has increased from 36% in 2021 to 47% in 2022. In a blog series, “ Adapting to the Digital Age ,” researchers from CSBS, the St.

Lending 195
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Bitcoin Tracker: Up, Up And Away?

PYMNTS

First, bitcoin has managed to stay above $1,000 for a record 10 days, leading some to speculate that the cryptocurrency could be developing a new, $1,000 price floor — though it may still be too early to tell. recently announced the placement of three new machines in St. The cryptocurrency’s maximum value, reached on Nov.

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Fed’s Sapenaro On How To Forge Ahead With Payments Innovation

PYMNTS

With the financial services space shifting from a competitive nature to a collaborative spirit between traditional banks and emerging FinTechs, one major stakeholder in the payments industry has quietly been an integral part of this co-op: the Federal Reserve. Louis, as its new payments strategy director. That’s what we need.

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This Time, We Want You To Drink The Kool-Aid

PYMNTS

We have a significant level of awareness,” said Andrew Louie, brand manager of refreshment beverages at Kool-Aid’s modern corporate parent company, Kraft. Though native to Nebraska, the people of Memphis, Tennessee, drink the most Kool-Aid in the nation, followed by Little Rock, Arkansas; St.

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