So far this year we have seen so many negative stories about banking as a service. You could be forgiven that BaaS is dying a slow and painful death.
It was three ago last week when LendingClub closed its acquisition of Radius Bank. At that time LendingClub entered into an operating agreement with the OCC that imposed capital restraints and growth limits on the fintech pioneer.
Upgrade continues to break new ground in consumer fintech.
When the Upgrade Card launched in 2019, it was the first credit card ever to marry the benefits of a revolving line of credit with a fixed-rate installment loan.
One of the problems with making loans like BNPL such a standard part of the checkout is that they are...
For the past two decades, the investment banking ecosystem in fintech has been dominated by one player: Steve McLaughlin's FT Partners. Now, that is not to say that other investments have not done deals. The really big deals are often done by the likes of Goldman Sachs, Morgan Stanley, or JPMorgan Chase.
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.
It has been a busy last few days for the CFPB and their fintech work. For the third consecutive day this week our lead story concerns actions taken by the CFPB.
This time it is around BNPL. The CFPB is proposing new rules that would essentially lump BNPL in with credit cards when it comes to consumer protections.
Nubank is a fintech phenomenon. The numbers speak for themselves.
Today, the Brazilian digital bank announced that it has surpassed 100 million customers in the three countries it operates in: Brazil, Mexico, and Colombia. It is the first digital bank outside of Asia to hit that milestone.
Bhardwaj had reportedly held senior technology positions at various large banks including Citi, Fifth Third and Huntington. The trouble is those banks had no records of Bhardwaj ever being an employee let alone a senior technology executive.
The long-awaited new overdrafts rule from the CFPB was unveiled today.
Since Rohit Chopra took over as head of the CFPB in 2021, they have made it clear that they were going after overdraft fees and this proposed rule is the culmination of those efforts.