An ex-regulator’s stern warning about the risks of sharing consumer information with fintechs has prompted debate over common security standards for banks and nonbanks, better data tracking and new liability insurance products.
The $2.6 trillion-asset bank's recent commitment to digital lending augurs the development of a two-tier market for borrowers who want fast access to cash.
Online lending platform Kabbage announced Thursday it has raised $250 million from Japanese telecom giant SoftBank, marking its largest equity fundraising round to date.