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Texas federal court enforces arbitration agreement and dismisses class action lawsuit filed against fintech company for evading Texas usury limit

CFPB Monitor

A Texas federal court has dismissed a class action lawsuit against Opportunity Financial, LLC (“OppFi”) alleging OppFi violated Texas usury law by charging interest on loans it made through a partnership with a state-chartered bank at rates above the maximum rate permitted by Texas law.

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Top 5 Emerging Fintech Hubs in The U.S.

Bank Innovation

Silicon Valley, New York City, and Boston all have thriving fintech communities, and are definitely worth a trip for the invested fintech entrepreneur, but the U.S. is already seeing a cluster of other fintech hubs emerge. Cities in Georgia, Texas, Florida, and […].

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Class Action Lawsuit Filed Against FinTech Lender Opportunity Financial For Evading Texas State Usury Laws

CFPB Monitor

On June 1, 2022, plaintiff Kristen Michael filed a class action lawsuit against FinTech lender Opportunity Financial, LLC (“OppFi”) on behalf of herself and a putative class alleging, inter alia , that OppFi loans money at an interest rate upwards of 130% higher than allowed by state law. The case is styled Kristen Michael v.

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INV Fintech Announces Sixth Class of Startups

Bank Innovation

INV Fintech, Bank Innovation’s sister accelerator, has announced its sixth accelerator class, which begins this week with six unique startups seeking to revolutionize financial services.

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INV Fintech Announces Sixth Class of Startups

Bank Innovation

INV Fintech, Bank Innovation’s sister accelerator, has announced its sixth accelerator class, which begins this week with six unique startups seeking to revolutionize financial services.

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Texas bank is taking aim at businesses' "chaos spend"

American Banker

Dallas-based Texas Capital Bank believes virtual credit cards, offered through a new fintech partnership, can help small business customers make their payment processes more efficient

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Inside payments fintech Highline’s auto expansion plan

BankInovation

Payments fintech Highline Technologies is looking to expand into auto loan payments on the heels of raising $13 million in series A funding this week.

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