The legislation proposed by Rep. Nydia M. Velázquez, D-N.Y., goes further than recent state efforts to require better disclosures for high-cost lenders, but it would face an uphill battle in the GOP-controlled Senate.
The online installment lender could be worth as much as $10 billion; the GSEs' net income jumped sharply from the first quarter after the rebound in the housing market.
Banks, data aggregators and fintechs have clashed for a decade over how consumers’ bank account data should be shared with third parties. The agency says it will offer a plan, and industry officials have plenty of suggestions already.
Digital wallets arguably reached a tipping point this spring when contactless payments jumped 40% in response to concerns that cash and payment terminals were helping to spread the coronavirus, Vidya Peters of Marqeta writes.
TD Bank has hired Jyotsana “Jo” Jagadish to head commercial operating products and payment innovation, where she will oversee TD’s expanding fintech partnerships.
The agency plans to issue an advance notice of proposed rulemaking dealing with efforts by fintechs and data aggregators to leverage a consumer's bank account information.
