The firm’s latest financial outlook suggests an opportunity to earn profits comparable to those recorded by large, well-established credit card issuers.
While some policymakers are open to accommodating fintech companies with looser oversight compared to banks, the New York State superintendent is unapologetic about her tough approach.
Readers this week highlighted the need for banks to upgrade payments systems, debated a small bank’s decision to ditch its legacy core vendor, lamented populist initiatives of the GSEs, and more.
The promise of fintech is that it might offer underbanked consumers access to financial products. But some are worried that relying on algorithms to make credit decisions could open up problems of its own.
Readers criticized a credit union securitization proposal, weighed in on scaling back the CFPB’s complaint database, debated the need for banks to examine gender-based salary comparisons, and more.
