A more practical approach for U.S. regulators on whether to bring fintechs into the banking fold might be ‘better the devil you know than the devil you don’t.’
Under a state proposal, annual percentage rates would have to be disclosed on nonbank commercial loans of $500,000 or less. Lenders' responses have been mixed depending on their business model.
The company withdrew an earlier bid to become an ILC after regulators identified problems with its application. It is seeking a Nevada bank charter because it wants to add deposit management services and expand into small-business lending.
A California man says the company sent his medical information to a friend of his; the Big Four's monopoly may be coming to an end as Citi and others move in.
Many might think that the technological disruption of the industry is already underway, but it’s likely that the most significant restructuring is still yet to come.
Employee may have leaked information about upcoming deals; company says it’s rare that the wrong person gets email receipt, but it's looking to improve.
