Changes On Deck For The CFPB’s Payday Lending Rule

PYMNTS

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?

Spotlight on lending: Commercial loan growth geographically

Abrigo

Now that banks have filed their third quarter financial reports , what did the lending picture look like last quarter? However, Q3 commercial lending is down from the beginning of 2014 (quarter ending 3/31/2014) by about $67 billion.

Payday Lending And The New CFPB

PYMNTS

As we noted when we first covered the final draft of the payday lending rule , Congress retains the power to keep the rule from ever making it into the books, so to speak, through the power of the Congressional Review Act. The CRA not only would prevent the payday lending rule from going into effect, but it would also prevent any similar rule changes from being considered for the next five years. Payday lending rules might be struck down by the CRA after all.

Pawn Shops, Payday Lenders Benefit From Gov’t Shutdown

PYMNTS

The Financial Times pointed to South Carolina-based World Acceptance for one example. Alternative lending platforms have likely stepped into the void.”. Debt Government shutdown government workers Lending News pawn shops payday lenders Short-term loans U.S.

Chase Plans Expansion In Top US Markets In 2019

PYMNTS

The new locations will include Charlotte, North Carolina; St. Louis, Missouri; Pittsburgh, Pennsylvania; Kansas City, Kansas and Greenville, South Carolina, among others.

CFPB Drops Investigation Into Lender That Donated To Mulvaney

PYMNTS

According to American Banker , the Greenville, South Carolina-based company announced it received a letter from the consumer agency “indicating the investigation into the company’s marketing and lending practices has been completed.” It was pointed out that CFPB’s acting director Mick Mulvaney , who hails from South Carolina, received at least $4,500 from the company’s political action committee as a lawmaker.

Lendio Has Facilitated More Than $500 Million In Small Business Loans

PYMNTS

The company’s first loan was awarded in Q4 2013 to a seafood restaurant in Charleston, South Carolina, looking for equipment to help its business expand. Loans business loans lend Lending Lendio loan origination Marketplace News What's Hot working capital

CFPB Sends Out RFI Over Administrative Adjudications

PYMNTS

According to American Banker , the Greenville, South Carolina-based company announced it received a letter from the consumer agency “indicating the investigation into the company’s marketing and lending practices has been completed. It was pointed out that Mulvaney, who hails from South Carolina, received at least $4,500 from the company’s political action committee as a lawmaker.

The United States Of Artificial Intelligence Startups

CB Insights

valuation), Nuro ($2.7B), alternative lending startup Avant ($1.9B), AI-powered predictive sales acceleration platform InsideSales.com ($1.7B), salestech startup Afiniti ($1.6B), healthcare startup Butterfly Network ($1.3B), and data analytics company Dataminr ($1.2B).

The United States Of Fintech Startups

CB Insights

in equity funding) and North Carolina-based bill pay platform AvidXchange ($724M). North Carolina. South Carolina. The fintech space is gaining momentum.

SMBs Down On US Presidential Candidates

PYMNTS

As the political process lurches across the presidential primaries, a new survey by OnDeck, the online lending company, found that small business owners are less than optimistic about their November choices — no matter who winds up carrying the nominations and banners of their respective parties.

Changing the Conversation About Income Volatility

PYMNTS

So together, LendUp and the Aspen Institute’s EPIC are launching Finance Forward, a national conversation to discuss the issue from the perspective of individuals, local government, nonprofits, for-profits, employers, tech and anyone else with an ability to lend or take action. Alternative Finances News Payment Methods Aspen Institute Columbia South Caorlina Featured News Finance Forward LendUp

The United States Of Fintech: The Most Well-Funded Fintech Startup In Each State

CB Insights

Unicorns on the map include SoFi in California, Oscar in New York, Avant in Illinois, Kabbage in Georgia, and AvidXchange in North Carolina. California-based lending unicorn SoFi is the most well funded fintech company with just over $2B raised since 2011. North Carolina. South Carolina. South Dakota. Across the US, well-funded companies are rethinking how the financial system operates.

Application Fraud, Analytics – and Gamecocks?

FICO

Those expectations have transferred directly to lending; customers expect ever-faster loan approvals, and online lenders are happy to oblige. But that’s not a reason to let the tail (fraud) wag the dog (the lending operation).

NY DFS announces multistate investigation of payroll advance industry

CFPB Monitor

In its press release, the DFS claims that the investigation will look into “allegations of unlawful online lending” and “will help determine whether these payroll advance practices are usurious and harming consumers.” North Carolina Office of the Commissioner of Banks.

State Nullification: Inhale Deeply

BankersHub

Apparently, you have to be involved in a much more heinous business like legal payday lending, check-cashing, legal gun-selling, deposit advance lending, overdraft protection, and legal online match-making before you offend the ethical sensibilities of the US Justice Department and the federal banking regulators.

June’s Top 12 Mobile Pay Moments

PYMNTS

The latest June count for where Walmart Pay is available is: Virginia, North Carolina, South Carolina, Nebraska, North Dakota, South Dakota, Iowa, Tennessee, Kentucky, Michigan, Indiana, Alabama, Georgia, Louisiana, Missouri, Mississippi and Washington, Missouri, Texas, Arkansas, and Washington, D.C. Today marks the last day of June 2016, which means we’re halfway through the year.

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Fintech Fundings: 28 Companies Raise $400 Million Week Ending May 20

Fintech Labs Insights

Along with the usual payment and lending startups, two insurtech companies raised substantial rounds: Embroker ($12.2 EZBob landed a $25 million debt commitmen t to increase its SMB lending. HQ: Charlston, South Carolina. Real estate marketplace lending.

Fintech Fundings: 14 Companies Raise $100 Million Week Ending Sep 4

Fintech Labs Insights

HQ: Charleston, South Carolina. Tags: Indirect lending, automobiles, car dealers, installment loans, insurance. It was a somewhat slower week in fundings with just under $100 million raised by 14 fintech companies.

Banking's Total Return Top 5: 2015 Edition

Jeff For Banks

Carolina Bank Holdings, Inc. Nasdaq: CLBH) Carolina Bank opened its doors in 1996 under the name Carolina Savings Bank. Like the other banks in the Top 5, Carolina took a little on the chin during the financial crisis, suffering small to moderate losses in 2009-10.

Fintech Fundings: 28 Companies Raise $330 Million Week Ending Jan 15

Fintech Labs Insights

HQ: Charleston, South Carolina. Online consumer lending. Person-to-person small biz lending platform. Multi-family lending management. Tags: Consumer, credit, lending, loans, underwriting, investing, P2P, student loans. The year continues its blistering pace with 28 companies worldwide raising new funds this week, the biggest number since we began tracking in July 2014.

We analyzed 7 of the fastest-growing personal finance apps of all time to figure out the secrets to their success — here’s what we learned

CB Insights

South Carolina — #3 in Credit Karma searches. An explosion of new consumer finance brands is transforming how people save, spend, and manage their money. Ninety-two million millennials will soon be in what Goldman Sachs calls their “prime spending years.” In aggregate, they command $1.3

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