A CFPB event on data-sharing issues gave the parties a chance to debate the merits and risks of screen scraping, what can replace it and what consumers really want.
One platform under development will let financial technology startups use a single portal to obtain licenses from multiple states, and another will let states collaborate on examinations.
Fintechs like LendingClub and Varo Money illustrate how the traditional financial system is changing. Banks that don’t rapidly evolve with technology will be obsolete.
Observers speculate that Intuit simply wants to enhance revenue and protect its tax software business, but the CEOs of each company say the deal would also give consumers more control of their overall finances.
Intuit is reportedly buying Credit Karma for $7 billion. The move is seen as a way for Intuit to get access to more consumer behavior data, generate new sources of income and potentially protect a key business.
Tech firm accuses PNC of stealing trade secrets; online lender LendingClub agrees to acquire Radius Bank; questions arise whether regulators are turning more partisan; and more from this week's most-read stories.
