There are big changes coming to the world of interchange. Today, in a historic settlement, Visa and Mastercard have agreed to cap card interchange fees as they seek to end a legal fight that has spanned almost two decades.
Small business lending is more complicated than consumer lending.
Both have term loans and lines of credit but in small business you also have SBA loans, revenue-based financing, merchant cash advances, venture debt, equipment finance, invoice factoring, asset-based financing and more. This leaves a lot of room for unscrupulous lenders to charge hidden fees on some of these products.
Fintech Nexus Newsletter (February 13, 2024): The 50 Hottest Startups in Fintech According to Forbes
Forbes is out with its ninth annual Fintech 50 this morning, a subjective list of the hottest startups in fintech. The list is created by Forbes editors, is only open to private companies and it involves analyzing data as well as interviews with company CEOs and industry insiders.
Banking as a Service (BaaS) continues to be in the crosshairs of the federal government.
The latest banks to be hit with consent orders from the FDIC are Sutton Bank and Piermont Bank.
While AI seems to be everywhere these days, one place it is getting real traction is in the compliance space.
There is a lot of manual, repetitive work in the compliance teams at large banks and fintechs. Hummingbird is looking to ease that burden with the launch of a new AI-based compliance tool.
If you are not paying attention to Nubank, it is time you did.
Last week the Latin American fintech leader released their Q4 and full-year earnings and it was another very solid report.
The credit bureaus are becoming fintech companies. In an industry first, Experian is now offering a digital checking account and debit...
We haven't talked about crypto for a while in this newsletter. Coinbase reported earnings yesterday so this provides a perfect opportunity to reflect on the state of crypto.
The New York Community Bank saga has occupied the headlines for much of the past month. But the bank may finally be seeing light at the end of the tunnel.
Yesterday, NYCB received a $1 billion infusion of capital from a group that included former Treasury Secretary Steve Mnuchin and former OCC head Joseph Otting.
UK digital banking pioneer Monzo reported its financial results for the 2023-24 fiscal year today.
The numbers are impressive. Total revenue was £880 million for the year, more than 2x the £356 million from the previous year.