News Topic: Fintech

The American Fintech Council and the Financial Technology Association say they’ll promote responsible innovation, fair access to financial services and more. Their dozens of members include some of the biggest names in fintech. ]] ... Read full article

Bank of America Chief Executive Brian Moynihan said the company is confident in its growth prospects even as competition intensifies from fintechs including Walmart’s startup. ... Read full article

The former acting comptroller of the currency will help the technology company move its secure data exchange technology into the financial market. ... Read full article

Square, LendingClub and SoFi are among the upstarts that once positioned themselves as outsiders but now seek to challenge banks more directly. Here's how they're doing it. ... Read full article

The Arizona Fintech Council, an organization of banks, economic and technology groups, will encourage collaboration and access to the state's regulatory sandbox to promote a version of Europe's open banking policy in the U.S. ... Read full article

Ten companies this week joined the American Fintech Council, which debuted March 3 after the Marketplace Lending Association and Online Lending Policy Institute combined. ... Read full article

The fintech will help these consumers set aside money in a tax-advantaged savings account that won’t jeopardize federal benefits tied to income. ... Read full article

The payment processing company will offer loans and deposit accounts to its small-business customers through a Utah-based industrial bank. ... Read full article

In adding Goldman Sachs veterans Omer Ismail and David Stark, the retail giant can enhance products such as Walmart Pay, Walmart+ and its fintech pact with Ribbit Capital. ... Read full article

Omer Ismail was a key architect of Goldman Sachs's consumer efforts in recent years and David Stark inked the bank's partnership credit card partnership with Apple. ... Read full article

The fresh funding would recrown the Swedish company as Europe’s most valuable startup after the payments business Checkout.com was valued at $15 billion. ... Read full article

Lost in the debate about whether to make fintechs comply with the Community Reinvestment Act is that many of them already partner with banks to make loans in low-income neighborhoods. ... Read full article

If policymakers are serious about revitalizing low-income communities, they should require all fintechs and other nonchartered lenders to adhere to the Community Reinvestment Act. ... Read full article

MoneyLion and Opportunity Financial are following in the footsteps of financial technology businesses that have raised billions of dollars from special purpose acquisition companies. The quick injection of funds is expected to accelerate their growth as ... Read full article

Brex currently relies on bank partners to offer credit cards and cash management accounts to small and midsize businesses. It is looking to charter its own FDIC-insured institution to be a direct provider. ... Read full article

Community development financial institutions would reach even more underserved households and business if they had strong relationships with tech firms and national banks. Here's how the Office of the Comptroller of the Currency can foster such ... Read full article

Mike Cagney’s blockchain lending startup Figure Technologies plans to raise $250 million through a new blank-check company, according to an SEC filing. ... Read full article

Opportunity Financial, which offers consumer installment loans in partnership with banks, is merging with FG New America Acquisition Corp., a special-purpose acquisition corporation. The deal is expected to close in the second quarter. ... Read full article