CFPB Monitor
SEPTEMBER 10, 2020
Thereafter, “using its existing lending operations and personnel, LoanMart commenced ‘marketing’ and ‘servicing’ auto title loans purportedly made by CCBank, a small Utah-chartered bank operating out of Provo, Utah.” The DOB indicated that such loans have interest rates greater than 90 percent.
PYMNTS
OCTOBER 12, 2020
The FinTech, which claims London as home, is likely to apply for a charter with the Federal Reserve Bank of San Francisco and California’s Division of Financial Institutions within the next few weeks, people with inside information told CNBC. The nature of the market for FinTech startups breaking into the larger U.S.
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PYMNTS
AUGUST 9, 2019
Corporate foreign exchange brokerage GPS Capital Markets is reportedly up for sale, unnamed sources told PE Hub. As of last year, the company employed 63 people, reports said, citing Utah Business data. As of last year, the company employed 63 people, reports said, citing Utah Business data.
PYMNTS
JUNE 8, 2020
The Securities & Exchange Commission ( SEC ) has moved to freeze the assets of a $12 million cryptocurrency mining and multi-level marketing (MLM) scheme, Coindesk reports. The defendant in the case is Utah resident Daniel F. Putnam, whose businesses — MMT Distributions and R&D Global — and associates — Angel A.
PYMNTS
SEPTEMBER 18, 2020
This week saw an impressive $324 million in combined funding for a range of B2B FinTechs and other solution providers, including alternative lenders looking to support small businesses as they manage working capital instability. Allica Bank, a FinTech in the process of building a small business challenger bank, raised more than $33.6
PYMNTS
JUNE 20, 2017
The action comes a week after the FDIC announced that digital lender SoFi had applied to the state of Utah for a special banking charter known as an ILC. Ten years ago Walmart to launch in Utah, where many ILCs are based, and was shut down.
PYMNTS
JUNE 28, 2018
What do Charlotte, NC, and Salt Lake City, Utah, have in common? According to Praeger, the two locations have a strong startup mentality, both in terms of the workers themselves and when it comes to public and private investors willing to back FinTech companies.
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