Gonzobanker

MARCH 21, 2024

Minority small business owners need ‘fair and accessible’ lending. Department of Housing and Urban Development, fair lending “guarantees the same lending opportunities to everyone” by “prohibiting lenders from considering race, color, national origin, religion, sex, familial status or disability when applying for loans.”

Lending 78

Lending How To Capital Data 78

Payments Source

MARCH 29, 2021

There are ways to remove bad actors from the industry — such as reinstating the Consumer Financial Protection Bureau’s payday lending rule and banning certain fees and collection practices — without hindering consumers’ access to emergency credit. ]].

Lending 164

Lending Regulation Industry 164

PYMNTS

JANUARY 15, 2021

After having its $37 billion dual IPO pulled by Beijing, Jack Ma’s Ant Group is working fast to overhaul operations to comply with government regulations, The Wall Street Journal reported on Friday (Jan. Chinese financial regulators called Ma and his leadership team to answer questions on the eve of the company’s stock market debut.

Regulation 158

Regulation Groups Operations Lending 158

South State Correspondent

MAY 13, 2024

Last week, Nacha held its Smarter Faster Payments Conference in Miami, a significant event for over 1,800 bankers and vendors. With 142 presentations and panels, the content was tailored to the needs of every bank interested in payments. Nacha saw three strong presentations covering various legal aspects of payments.

Conference 195

Conference Payments Fraud Data 195

South State Correspondent

APRIL 24, 2022

However, some community banks are still deciding on the correct term lending index to adopt. Considerations For Choosing A Term Lending Index. An index representing overnight rates and term structures is fundamental to community banks that sell products with multiple payment periodicities. Representative.

Lending 195

Lending Community Bank Community Marketing 195

PYMNTS

JULY 29, 2019

Proposed regulations would give small businesses in California the nation’s most extensive set of truth-in-lending protections for small business borrowers. . Lenders must also offer clear disclosure of the annual percentage rate (APR) and estimated monthly payments. .

Lending 182

Lending California Comparison Regulation 182

PYMNTS

MAY 25, 2018

After adopting a mobile money system that allows people to make payments and transfers through their cell phones, Kenya has become a leader in financial inclusion. To ensure that lenders are fair to their customers, the country’s finance ministry has drafted a financial regulation bill that includes digital lenders.

Regulation 101

Regulation Lending Mobile Course 101

Payments Dive

FEBRUARY 21, 2024

While the $35 billion acquisition is expected to prompt antitrust concerns related to consumer card lending, regulators may see competition benefits in the card network arena.

Capital 221

Capital Lending Regulation Cards 221

PYMNTS

OCTOBER 11, 2020

Santander Bank has announced three high-level appointments, two overseeing lending operations and another overseeing marketing, according to a press release. Giancarlo Marchesi was named head of Consumer Lending, a new role at Santander. Patrick Smith was named head of Small Business Banking. Smith holds a B.S.

Lending 160

Lending New York Virginia Boston 160

PYMNTS

JUNE 23, 2016

The online lending landscape may get rockier as federal regulators are eyeing whether to bolster their oversight on loans extended to small businesses. The focus of these lenders has been to extend capital to small businesses and startups, and those players have maintained that more regulations could hurt business.

Lending 100

Lending Regulation San Francisco Online 100

PYMNTS

MARCH 7, 2019

Merchants and customers are now transacting under PSD2 and GDPR in the European Union (EU) — regulations that allow a greater window into how customer data is being used. While these regulations are aimed at increasing consumer trust by allowing them more transparency, many consumers in the region are still adjusting.

Lending 198

Lending Regulation Regional Data 198

PYMNTS

MARCH 20, 2020

FinTechs continue to push the envelope to see how far open banking frameworks can go in improving the SMB banking experience, and increasingly, SMB lending is shifting to the center of these collaborative efforts. “Regulation around open banking has certainly been of great benefit to businesses in the U.K., In the U.K.,

Lending 233

Lending Data User Experience Fraud 233

Abrigo

JUNE 12, 2020

Key Takeaways The soon-to-begin Main Street Lending Program (MSLP) aims to fulfill a need for mid-sized businesses to access relief funds amid the coronavirus pandemic. The MSLP aims to be a lifeline for businesses that may have been too big to participate in the PPP, but too small to access corporate lending facilities. learn more.

Maine 195

Maine Lending Regulation Resources 195

PYMNTS

JANUARY 6, 2021

With no credit scores, limited financial transaction histories, and a huge amount of people who don’t even have a bank account, lending money in Vietnam is no simple task. While most financiers would run from an environment like that, CEO Toms Niparts of Jeff , an app-based lending platform based in Latvia, saw it as a huge opportunity. “We

Lending 323

Lending Fintech Data Comparison 323

American Banker

MAY 29, 2024

The Swedish financial institution argues over potential regulations that treat buy now/pay later lending like credit cards in the U.S.; Discover seeks the next hot market for real-time payments; and more.

Lending 76

Lending Regulation Cards Marketing 76

PYMNTS

DECEMBER 4, 2019

Federal banking regulators support using alternative methods to assess creditworthiness to help high-risk people get loans, The Wall Street Journal (WSJ) reported on Tuesday (Dec. The regulators added that agencies choosing to tap into alternative data should do so judiciously.

Regulation 136

Regulation social media Study Data 136

PYMNTS

NOVEMBER 12, 2020

Built on the back of Regulation Crowdfunding under the Jumpstart Our Business Startups (JOBS) Act, Miventure operates as a funding portal to connect SMBs with unaccredited investors, a relatively new paradigm for SMBs used to turning to traditional banks or venture capitalists to back their companies. The High-Risk Perception.

Regulation 232

Regulation Capital Marketing Lending 232

PYMNTS

NOVEMBER 5, 2019

Borrowers must often complete hefty amounts of paperwork before they are approved, and payments disbursed via paper checks can add delays. Many lenders are relying on advanced learning technologies like artificial intelligence (AI) and machine learning (ML) to offer instant loan payments without compromising the review process.

Lending 102

Lending Payments Security Fintech 102

PYMNTS

JANUARY 3, 2020

In today’s top payments news, Apple’s share price hit a record high above $300 on Thursday, “buy now, pay later” company Sezzle was denied a lending license from California and a European Central Bank policymaker urged area banks to seek alternatives to Libra. CA Denies Lending License For BNPL Firm Sezzle.

CA 130

CA Lending South Dakota Apple 130

PYMNTS

JULY 22, 2016

It feels like 2014 again with the ongoing popularity of alternative lending startups. It’s even more surprising given that 2016 could be the year that regulation begins to really kick in for these lenders — in the U.S., Alternative Lending. But the biggest funding round wasn’t in alternative finance. MarketInvoice.

Lending 100

Lending Regulation Big Data Risk Management 100

PYMNTS

DECEMBER 27, 2020

Financial regulators in China are moving to curb the influence of Jack Ma 's Ant Group by telling it to switch focus back to its mainstay payments business while fixing issues in personal lending, wealth management and more, The Wall Street Journal (WSJ) reports. The People's Bank of China criticized Ant on Sunday (Dec.

Groups 225

Groups Regulation Payments Lending 225

PYMNTS

OCTOBER 29, 2018

policymakers, or Members of Parliament (MPs), are slamming financial institutions (FIs) for their treatment of small business (SMB) borrowers, and are calling on the government to overhaul business lending regulations as a result. Reports in Reuters late last week said the U.K.

Lending 162

Lending Regulation Report National 162

PYMNTS

MAY 8, 2019

Federal Trade Commission (FTC) is eyeing tighter scrutiny of small business lending practices as Commissioner Rohit Chopra calls on the regulator to combat predatory SMB loan contracts, reports in Bloomberg said on Wednesday (May 8). Chopra spoke at an agency forum in Washington, D.C.,

Lending 152

Lending Regulation Washington California 152

PYMNTS

DECEMBER 23, 2019

The Reserve Bank of India (RBI), in a move to protect the interests of consumers, has passed a regulation that says the allowable exposure of a lender to all of its borrowers should not go over Rs 50 lakh ($70,000) at any time on a peer-to-peer (P2P) platform, according to a report by Business Insider. “On

Lending 132

Lending Guidelines System ATM 132

PYMNTS

JUNE 10, 2019

The Financial Stability Board says Basel III rules have not led to a squeeze of the small business bank lending market, according to reports on Friday (June 7). The FSB announced Friday the findings of its analysis of Basel III regulations on the small business lending space. Some regulators aimed to mitigate that impact.

Lending 100

Lending Capital Regulation Survey 100

PYMNTS

OCTOBER 17, 2018

Short-term lending – specifically, payday loans – have attracted a lot of attention in recent years, from the media and from the regulators. The main difference between the two forms of non-bank subprime cash lending – as their names imply – is the time a customer is given to pay a loan. population.

Regulation 152

Regulation Lending United States Data 152

Bank Innovation

MARCH 7, 2016

Today, the Consumer Financial Protection Bureau began accepting complaints regarding online marketplace lending. While no official regulations have yet been placed on online marketplace lending or investors, many industry watchers suspect this move is a prelude to the introduction of formal regulation in the online marketplace lending sector.

Lending 150

Lending Online Regulation Industry 150

PYMNTS

JANUARY 2, 2020

Sezzle — a “buy now, pay later” (BNPL) company based in Minnesota, but listed in Australia — was denied a crucial lending license from California. and Canadian consumers modest, interest-free loans, then takes ownership of the contract agreements between merchants and consumers to process payments. The company offers U.S.

CA 130

CA Lending California Minnesota 130

PYMNTS

OCTOBER 9, 2018

About a year ago, the CFPB, which now goes by the BCFP, dropped the final version of its payday lending regulations. Lenders actually prefer customers who will re-borrow repeatedly,” then-CFPB Executive Director Richard Cordray said after releasing the new regulations last year. Payday loan revenues have plummeted from $9.2

Lending 140

Lending Regulation Groups Report 140

PYMNTS

DECEMBER 9, 2019

In today’s top news in payments, Goldman plans to launch a robo advisor for clients with lower investment capital than traditional customers, and Apple plans to offer 0 percent installment financing on iPhones bought with the Apple Card. Regulators Call for ‘Vigilant Monitoring’ of Big Tech’s Financial Data Use.

Regulation 131

Regulation Data Apple Payments 131

PYMNTS

NOVEMBER 3, 2019

Australia is making small business lending easier by waiving responsible lending standards for small firms. We have been saying this for a long time now that since the royal commission the banks have been using consumer responsible lending criteria for small business, it is not appropriate or relevant,” she said.

Lending 101

Lending Security Community Regulation 101

PYMNTS

FEBRUARY 25, 2019

The panel, which traces its genesis back two years, is comprised of two groups, focused separately on lending and payments, and is in turn part of CSBS Vision 2020. “As We have formed a working group of state regulators to develop the model. Our FinTech industry advisory panel did include a few community banks.

Regulation 147

Regulation Fintech Community Bank Community 147

PYMNTS

JANUARY 22, 2019

Could it be that the CFPB, under new Executive Director Kathy Kraninger , will be moving directly to eliminate the more controversial provisions of its payday lending rule? In April, Mulvaney sided with two payday lending groups that sued the CFPB in an attempt to invalidate the regulatory restrictions created by the new rules.

Lending 153

Lending South Carolina Regulation Groups 153

Bobsguide

JULY 7, 2022

Financial institutions and retail brands gain a new embedded finance platform to help consumers access regulated loans at point-of-sale, powered by Banking as a Service. Financial institutions, distributors and merchants will benefit from a platform that makes it easy for their customers to access lending options.

Lending 68

Lending Seattle Regulation US 68

PYMNTS

DECEMBER 2, 2020

In addition, every player will have to make use of the country's open payments platform to guarantee interoperability, allowing money be transferred between the country's over 100 traditional banks and new digital services, including Google Pay , without fees.

Payments 167

Payments Google Fintech Regulation 167

PYMNTS

JANUARY 17, 2020

Sezzle , the California-based alternative payments lender, announced Thursday that it was finally approved by the state’s Department of Business Oversight ( DBO ) for a lending license. based installment payment platform, according to a press release from the company.

California 130

California Lending Trends Payments 130

Jeff For Banks

APRIL 6, 2021

It normally has a low down payment requirement, as low as 3.5%. The first was regulator arbitrage, where a bank decides to have an activity regulated by one entity rather than another because of the perception that the chosen regulator will be less risky to them. as low as 500. This is good. Let that sink in a bit.

Regulation 78

Regulation Philadelphia Study Lending 78