News Topic: Fintech

The agreement between Colorado authorities, marketplace lenders and banks offers a way to structure partnerships without triggering the wrath of state regulators. ... Read full article

Close collaboration between leading payment innovators and regulators could help regulators better understand the direction the industry is headed, says Arkose Labs' Vanita Pandey. ... Read full article

Betsy Cohen, formerly of The Bancorp Bank, and venture capitalist Ryan Gilbert have created a vehicle to raise hundreds of millions of dollars, purchase a technology company and expand it. ... Read full article

Florida and West Virginia recently joined four other states in setting up regulatory sandboxes that allow startups to test products with consumers without obtaining a license. ... Read full article

The OCC’s efforts to bring the technology into the financial mainstream could help people in underserved communities more securely execute payments. ... Read full article

"It's on-demand capital for us," Optus Bank's CEO says of the payment company's deposit. The funds are part of PayPal's broader effort to confront race and income inequality. ... Read full article

The product, which is also aimed at community banks, includes a "take-back" option that allows consumers to withdraw extra funds they've paid that go beyond their monthly scheduled mortgage payment. ... Read full article

Banks can capitalize on Amazon’s ambitions by teaming up to launch financial products and services aimed at coveted customer segments. But they should beware the legal and regulatory pitfalls. ... Read full article

Meredith Fuchs, formerly the top lawyer at the Consumer Financial Protection Bureau, says data aggregators like Plaid "have matured." She will help the company prepare for new data-sharing rules and its pending sale to Visa. ... Read full article

New research finds that it's become harder than ever to acquire new customers — and equally challenging to engage newly acquired ones. ... Read full article

The Office of the Comptroller of the Currency is overstepping its authority in granting charters to fintechs and other companies that don’t take deposits. ... Read full article

Under the agreement, fintechs and their bank partners will have a safe legal harbor to offer loans, as long as their interest rates do not exceed 36% and they meet various other standards. ... Read full article

JPMorgan Chase is funding a two-year initiative in which nonprofit Commonwealth will study the impact of artificial intelligence and other technologies on financially vulnerable Americans. ... Read full article

Jo Jagadish, who joined TD Bank in April as head of commercial products and payments innovation, spent her childhood moving country to country, so she's used to a world without borders — the kind world emerging from the capabilities of fintech and ... Read full article

A pilot program that would let banks, credit unions and challenger banks bid to offer financial services within rural and inner-city post offices could be a first step in serving the underbanked while also helping to shore up the U.S. Postal Service's ... Read full article

A public-private partnership that has fewer rules and restrictions than the Paycheck Protection Program would save more small businesses. ... Read full article

Theorem is marketing its first-ever securitization of unsecured loans. It uses machine-learning technology to gauge the risk of default, a growing concern during the pandemic recession. ... Read full article

The card giant could pay $850 million in cash for the online small-business lender, according to a person familiar with the talks. ... Read full article