Just as legal limbo has threatened the agency’s long-running effort to create a fintech license, a charter unique to payments companies could face a court challenge, observers say.
The Federal Reserve Racial and Economic Equity Act would direct the Fed to consider racial inequality in employment, income and access to affordable credit when making monetary policy and in its regulation and supervision of banks.
Rep. Carolyn Maloney, D-N.Y., was finally declared the winner weeks after election day, while Rep. Lacy Clay of Missouri was defeated by a progressive challenger.
As lenders redouble their efforts to measure the carbon impact of their loans, they’re finding that residential mortgages are often one of the biggest line items on their books.
Square's gross payment volume tumbled by 15% year-over-year due to COVID-19’s impact, but revenue jumped as online selling rose, Cash App doubled in users and Square enabled almost $900 million in PPP loans.
The increased use of technology, along with holistic data points, can eradicate racial and gender disparity for fintech lenders in small business, says Become’s Eden Amirav.
While borrowers seek the lowest interest rates ever, lenders have made it harder for some to access them; former JPMorgan Chase executive will serve as chair of First Women’s Bank.
