The Small Business Administration should consider partnering with fintechs, which have the capacity to approve loans quickly, to help avoid the kind of application backlog the agency faced after the last government shutdown.
The private equity acquisition of fintech vendor Ellie Mae will give it some breathing room in a declining originations market being owned a more patient and strategic investor rather than shareholders as a publicly traded company.
The vast majority of comment letters to the FDIC support the fintech’s banking venture, in stark contrast to the public outcry over the pre-crisis ILC bids by large retailers.
As robotic process automation expands into day-to-day lending operations, IBM is teaming up with UiPath, a startup that specializes in the new technology.
The bureau wants to further remove the threat of legal liability for firms that test products benefiting consumers, but the attorneys general say the agency cannot provide immunity from state law.
The mortgage loan origination system developer Ellie Mae is going private, agreeing to be acquired by the private equity firm Thoma Bravo in an all-cash transaction valued at $3.7 billion.
