Wednesday morning Goldman Sachs, not looking to be left behind, announced it would be acquiring GreenSky for $2.24 billion.
In a speech last week to the US Chamber of Commerce, CFPB Richard Cordray provided thoughts geared towards fintech companies stating, "One message we are sending to the industry is, you are not going to be able to take advantage through arbitrage of our regulatory system. It's not fair for you to not have to meet the same expectations that banks have to meet. If you're trying to get an advantage by not meeting the same standards, that is not acceptable and we're trying to send that message loud and clear."; Cordray also spoke on finding the right balance of fintech regulation, modernizing regulations and the Bureau's look at debt collectors and payday lenders. Source
Last week we kicked off LendIt Fintech Digital, an ongoing initiative from LendIt Fintech to bring the fintech community together;...
For years merchants have complained about transaction fees that eat into their revenue, but having Amazon take up the fight may ratchet up the pressure. The change will go into effect Jan. 19.
Bank and non-bank mortgage lenders are currently having a debate seen across the financial landscape on whether to build, buy or partner with new technology; mortgage lending in particular is seen as archaic and overly reliant on paper applications; companies like Better Mortgage are trying to change this through innovative technology; other firms like Finance of America Holdings, a portfolio company of Blackstone Group, are still weighing their options as more fintech firms are beginning to disrupt the mortgage business. Source
Ecuadorian payments infrastructure company Kushki has raised $100 million in an extension to its Series B round, more than doubling its valuation to $1.5 billion. The startup had raised $86 million in the first tranche of the financing in June of 2021 at a post-money valuation of $600 million.
Marqeta has hired its first employee in London as it aims for a 2018 European launch; the firm provides payment card technology and works with other fintech firms such as Square and Kabbage; they have raised a total of $76 million, which includes a recent $25 million investment which was led by Visa; CEO Jason Gardner stated in a Business Insider interview, “The use-cases we see here in the US and Canada are very similar to the use-cases we see in Europe. Since our inception [we] have always seen ourselves as a global issuer-processor and Europe is obviously an enormous market.” Source
Despite bringing invaluable global talent to the US, international students face a critical hurdle to higher education - student loans.
Solana fell from a proof-of-stake leader to an unstable, frequently offline chain that has been the target of high-stakes, high-profile hacks.
Dock, a provider of modern financial technology infrastructure in Latin America, announced the completion of its acquisition of Cacao, a card processing solutions provider operating in Mexico, from now on 'branded also as Dock.' The deal expands Dock’s regional presence and 'advances its goal of